Introduction to Financial Accounting Concepts for Decision-Making
Learn the major financial accounting concepts and the effects of financial transactions from this free online course.
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This free online Accounting Concepts for Decision-Making course teaches the foundational concepts used in interpreting and applying financial information for decision-making. This course will equip you with the right foundation for creating and analyzing financial statements. The course begins with an analysis of the interactions between financial statements and the accrual basis of accounting.
Next, you will learn about different financial accounting concepts such as conservatism, historical cost, and the importance of IFRS accounting standards. You will also study the types and characteristics of the major sources of capital - equity and debt. Then, you will analyze the process of preparing a balance sheet. You will also discuss the effects of financial transactions on financial statements and the implications for decision-making purposes.
This free online course will enable you to learn about the fundamentals of financial accounting and its function in decision-making for individuals and organizations. This course will be of significant interest to students, analysts, and anyone with an interest in interpreting and applying information from financial statements.Start Course Now
Introduction to Financial Accounting Concepts
Introduction to Financial Accounting Concepts - Learning Outcomes
Introduction to Financial Accounting
Financial Accounting Concepts
Sources of Capital
Preparing a Balance Sheet
Introduction to Financial Accounting Concepts - Lesson Summary
Transactions and Financial Statements
Transactions and Financial Statements - Learning Outcomes
Aspects of Financial Statements
Effective Purchases and Sales Transactions
Miscellaneous Expenditure and Losses
Transactions and Financial Statements
Financial Transactions and Valuing Assets
Effects of Financial Transactions
Lone Pine Case
Transactions and Financial Statements - Lesson Summary
Upon successful completion of this course, you should be able to:
- Recognize the fundamental concepts of financial accounting
- Identify the types of financial statements
- Analyze the features of the major sources of capital
- Explain the double-entry system of accounting
- Outline the three forms a partner can draw money from an organization
- Categorize investment equity into short-term and long-term
- Explain the effects of depreciation
- Evaluate the importance of recording financial transactions for businesses
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