Accounting and Its Use in Business Decisions
Learn how accounting knowledge can help you make more accurate business decisions with this free accounting course.
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Accounting is the systematic and comprehensive recording of the financial transactions of a business. With this free Accounting course, you will learn about the most important accounting processes in use today. The course will begin by discussing the financial statement of different organizations, including the corporation, partnership, and sole proprietorship. You will learn how transactions affect the income statement and balance sheet as well as study the subject of equity and dividend ratios.
Next, you will learn how to prepare an income statement, a statement of retained earnings, and a balance sheet. These are the three most important financial statements that are used for reporting a company's financial performance over a specific accounting period. Once you have mastered these three, you can give yourself a pat in the back and move on to the subject of equity ratio.
This free Accounting and Its Use in Business Decisions course will be of great interest to entrepreneurs and business professionals who would like to learn or refresh their knowledge of important accounting principles. It will also be valuable to any learner who is interested in having a future career in the field of accounting. With just a little time and effort, the numbers on your sheets will start falling into place with ease. So why wait? Start building up your accounting skills today.Start Course Now
Module 2: Accounting and Its Use in Business Decisions Assessment
Module 1: Accounting and Its Use in Business Decisions
Navigation for this Course
The Accounting Enviornment
Overview of Accounting
Financial Statements of Business Organizations
The Financial Accounting Process
How Transactions affect Income Statements and Balance Sheets
Dividends and Equity Ratios
Appendix A: Corporate verses Sole Proprietorship or Partnership Accounting
- Identify and describe the three basic forms of business organizations;
- Distinguish among the three types of activities performed by business organizations;
- Describe the content and purposes of the income statement, statement of retained earnings, balance sheet, and statement of cash flows;
- State the basic accounting equation and describe its relationship to the balance sheet;
- Using the underlying assumptions or concepts, analyze business transactions and determine their effects on items in the financial statements;
- Prepare an income statement, a statement of retained earnings, and a balance sheet;
- Analyze and use the financial results - the equity ratio.
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