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Financial Statements for Decision-Making
Learn about consolidating journal entries in the ledger and preparing the final accounts from this free online course.
Description
Financial Statements for Decision-Making is a free online course that teaches the processes involved in preparing the types of financial records for decision-making. This course will enhance your knowledge of the interactions between financial transactions and financial records. The course begins with an illustration of passing journal entries and preparing financial statements using key accounting principles.
Next, you will learn about recording a series of transactions involving credit payments and supplies - purchases and sales returns. You will also study the effects of transactions such as drawings and cash purchases, and applying the real account principle. Then, you will analyze the process of consolidating the journal entries in the ledger account using Excel spreadsheets. Finally, you will discuss different aspects of the ledger and how to prepare the profit or loss statement and the balance sheet.
This free online course aims at teaching you the interactions between financial statements and its function in decision-making for individuals and businesses. This course will be of interest to students, accountants, financial enthusiasts, and anyone with an interest in applying information from financial records. Register for this course and take your knowledge of financial accounting and decision-making skills to the next level!
Start Course NowModules
Types of Financial Records
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Types of Financial Records - Learning Outcomes
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Accounting Principles for Journal Entries
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Recording Journal Entries
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Effects of Journal Entries
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Consolidating the Ledger Account
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Ledger Postings
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Final Accounts
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Types of Financial Records - Lesson Summary
Course assessment
Learning Outcomes
Upon successful completion of this course, you should be able to:
- Recognize the fundamental concepts of financial accounting
- Identify the types of financial statements
- Explain the double-entry system of accounting
- Evaluate the effects of different types of financial transactions
- Analyze the process of preparing the final accounts
- Identify major assumptions of the cash flow statement
- Categorize the major activities of the cash flow statement
- Distinguish the direct and indirect methods of cash flow statements
- Recognize the importance of the annual report to the stakeholders
- Describe the importance of financial statement analysis to decision-making
Certification
All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:
Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning
Alison offers 3 types of Certificates for completed Certificate courses:
Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping
All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.
