Dive into financial accounting in this two-day intensive class. Designed for beginners, this course covers essential financial accounting principles that are important to know for careers in accounting, bookkeeping, and other finance-related fields. The course begins with an overview of financial accounting, covering the users and sources of financial reports, the different types of financial reports available, and the importance of adhering to Generally Accepted Accounting Principles (GAAP). You will learn how to distinguish between cash and accrual accounting and gain insights into income statements, essential line items, and profit ratios. From there, the course dives into the specifics of accrual accounting, including depreciation and amortization, and explores analytical tools such as Trailing Twelve Months (TTM) and Year-over-Year (YoY) comparisons.
After covering these foundational concepts, the course progresses to more advanced topics including components of balance sheets, cash flow statements, advanced details of income statements, and how to handle unusual items. By the time you finish, you will have a solid grounding in the financial accounting knowledge essential for professional use.