Financial Accounting
Course Description
Take your accounting skills to the next level with Financial Accounting. This advanced course builds on the foundational concepts introduced in Accounting Essentials I, reinforcing key principles such as the accounting cycle and the preparation of core financial statements, including the Balance Sheet and Income Statement.
Moving beyond the basics, you’ll explore how underlying accounting principles impact a company’s financial health through practical applications like preparing a Cash Flow Statement and analyzing financial ratios.
Ideal for individuals with basic bookkeeping or accounting knowledge, this course is perfect for those looking to strengthen their expertise for roles in bookkeeping, clerical accounting, finance, or general office administration.
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Week 1:
Accounting cycle and financial statements (Balance Sheet, Income Statement)
Working capital and liquidity
Week 2:
Accounts receivable and bad debts expense
Week 3:
Accounts payable, inventory and cost of goods sold
Week 4:
Bank reconciliation
Cash flow statement
Depreciation
Shareholder’s equity
Financial ratio analysis
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Students will revisit all steps of the accounting cycle introduced in Part I and build confidence in applying intermediate accounting concepts. By the end of the course, you will be able to prepare and analyze key financial statements and metrics, including:
Reviewing the Balance Sheet and Income Statement
Assessing cash flow metrics
Understanding and calculating working capital
Managing receivables, credit terms, discounts, and accounting for bad debt
Comparing inventory systems (periodic vs. perpetual) and inventory costing methods
Navigating the accounts payable process, credit terms, and accruals
Preparing and analyzing a Cash Flow Statement
Preparing and analyzing a Bank Reconciliation
Understanding depreciation and applying various calculation methods
Calculating and interpreting financial ratios
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Accounting Essentials Part I
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Tuesday & Thursday’s (6:30pm – 9:00pm EST )
20 hours