Financial Accounting and Cost Accounting
Dive deeper into the preparation and interpretation of financial statements, including account concepts and GAAP
4.00 (2 reviews)
5
students
10.5 hours
content
Oct 2023
last update
$59.99
regular price
What you will learn
Explain how the balance sheet, income statement, and statement of cash flows are used, what they measure, and why we need three statements.
Explain what is the balance sheet equation and why the balance sheet equation is the foundational model for accrual accounting/double entry accounting
Explain how the statement of cash flows and income statement link into the balance sheet
Locate a real company’s annual report at their website and locate their financial statements within the annual report
Explain the give and take of a transaction and how to record both sides of the transaction separately with the six stakeholders
Explain why you can’t measure profit with cash and why you need to use accrual accounting (double-entry accounting), not cash accounting
Explain the basis for bookkeeping and basic accounting without learning bookkeeping
Explain how the format of the operating activities section differs from the other two activities (investing and financing)
Differentiate between income and cash flow
Define what are assets, liabilities, and equity and how assets, liabilities, and equity relate
Explain who are the six most important stakeholders of a corporation (employees, customers, government, vendors, lenders, investors)
Explain which side of the give and take appears on the income statement and on the statement of cash flows
Illustrate how accrual accounting can both record cash and profits using a spreadsheet
Explain what each line item of the balance sheet means and distinguish between current and noncurrent assets, liabilities, and shareholders’ equity
Explain each important line item for the three sections of the statement of cash flows: operating activities, investing activities, and financing activities
Explains cost accounting systems
Explains main manufacturing cost elements
Explains cost from the view point of the relationship with cost centers
Calculates production cost according to the job cost system
Calculates product costs according to the process costing
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udemy ID
9/28/2023
course created date
7/15/2024
course indexed date
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