refresher course on how to prepare financial statements

What can I do with this financial statement training?

With this financial statement training, you'll quickly master the fundamentals and develop a comprehensive understanding of how they work, learn how to interpret them accurately and discover how to use their information to make more effective, better-informed business decisions that have a positive impact on your organization's bottom line.

What is the ultimate accounting refresher course?

The Ultimate Accounting Refresher Course was designed on the back of Justin's 10+ years experience tutoring University Students, MBA's and business owners to be better equiped to be financially literally and understand the terminology and language of business.

What's included in the financial statement seminar?

In this powerful one-day seminar, you'll take a guided tour through the complexities of the financial statement. In clear, easy-to-understand language, we'll explain how to read financial statements, interpret their data and put that information to positive use.

What are the advantages of financial statements?

You'll be able to use the information gleaned from financial statements to plan ahead for your organization, ensure that cash flow is regulated and make timely, educated decisions regarding new product lines, equipment purchases, business expansion, increasing personnel, borrowing capital and much more.

What are the steps in preparing financial statements?

How to Prepare Financial StatementsStep 1: Verify Receipt of Supplier Invoices. ... Step 2: Verify Issuance of Customer Invoices. ... Step 3: Accrue Unpaid Wages. ... Step 4: Calculate Depreciation. ... Step 5: Value Inventory. ... Step 6: Reconcile Bank Accounts. ... Step 7: Post Account Balances. ... Step 8: Review Accounts.More items...•

How do you refresh your accounting knowledge?

Here are some steps to enhance your accounting career....5 tips to enhance your accounting skills this yearDon't fear technology. There is no escaping the fact that software skills are vital, says Jotkowitz. ... Learn to analyse data. ... Hone your communication skills. ... Learn how to lead. ... Seek sector-specific experience.

What is the easiest way to learn financial accounting?

How to Learn Financial AccountingLearn How to Read and Analyze Financial Statements. ... Select a Learning Method. ... Dedicate Time to Your Learning. ... Focus on Real-World Application. ... Network with Other Accounting Professionals.

What is accounting 101 taught?

Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions.

How can I improve my accounting and finance skills?

Let's explore in detail.Learn To Analyse Data. In today's world, data is the most valuable asset for any company, and as an accountant, you have to deal with large data sets daily. ... Gain Industry Specific Knowledge. ... Be Able To Adapt Quickly. ... Work On Your Communication Skills. ... Manage Time Efficiently.

How can I improve my financial analysis skills?

Here are 6 tips to help you improve your analytical skills in finance:Find and use new tools. ... Play around with mock datasets. ... Sharpen your skills by playing games or brain teasers. ... Take a course or training.

What are the basic things an accountant should know?

Basic Accounting Skills Every Professional Accountant Must Have! Interpersonal skills: There is a misconception that an accountant's work involves purely number crunching. ... Taxation. Taxation is a very volatile and dynamic subject. ... Analysis. ... Accounting basics. ... National certification. ... Accounting Software.

How do you do accounting in Excel?

How to Create a Bookkeeping System in ExcelStep 1: Start with a bookkeeping Excel sheet template. ... 3 Necessary Parts of an Excel Bookkeeping System. ... Step 2: Customize the chart of accounts within your template. ... Step 3: Customize the income statement sheet. ... Add a sheet for tracking invoices.More items...•

What do I need to know before studying accounting?

5 Things You Should Know Before Studying AccountingTech-savvy is a vital attribute. We are talking about the 21st century which has digitalized nearly everything in our daily lives. ... Accounting Specializations. ... Certifications. ... Strategic thinking and consulting. ... Networking is key.

What are the three golden rules of accounting?

Real Account. ... Personal Account. ... Nominal Account. ... Rule 1: Debit What Comes In, Credit What Goes Out. ... Rule 2: Debit the Receiver, Credit the Giver. ... Rule 3: Debit All Expenses and Losses, Credit all Incomes and Gains. ... Using the Golden Rules of Accounting.

What are the 5 basic accounting?

principles of accounting are; Revenue Recognition Principle, Historical Cost Principle, Matching Principle, Full Disclosure Principle, and Objectivity Principle.

What are the 3 basic concepts of accounting?

What are the Basic Accounting Concepts?Accruals Concept. Revenue is recognized when earned, and expenses are recognized when assets are consumed. ... Conservatism Concept. ... Consistency Concept.

Introduction to Financial Statement Preparation

This course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, will teach you the tools you'll need to understand the fundamentals of financial accounting.

Skills You'll Learn

After learning about the Income Statement, revenue and expense transactions, and adjusting entries, we’re ready to move on to preparing our end-of-period financial statements. We’ll prepare the Income Statement and Balance Sheet based on the transactions that have been recorded.

What is the purpose of the Financial Accounting course?

This course provides financial accounting professionals with a good and helpful overview on how to prepare financial statements with potential audit issues in their mind. Thinking along the line with auditors helps to better understand the auditing process and avoid potential audit issues.

Why are nonprofits subject to independent audits?

All publicly-traded and many privately-held, nonprofit and other types of entities are subject to independent audits as a means of providing financial report users with reasonable assurance that the financial statements and related disclosures are not materially misstated due to fraud or error.

Is the Financial Statements course good?

The course is very helpful especially to those that are involved in the financial statements preparation. For those with no public accounting background , this is a highly recommended course. The presentation is very organized and presented with a good level of simplicity. The speaker is also good and very knowledgeable of the topics included in the course.

Description

Accounting is the language of business. Learn essential accounting and financial skills in an easy to follow course by a seasoned practitioner and educator. Justin Lake builds accounting systems for a living and teaches accounting in such a simple and practical way.

Instructor

Learn from an experienced CFO with over 20 years of practical accounting and commercial experience. I have worked in industries such as Chartered Accounting, FMCG, Engineering and Logistics. My experience is within small organisations,partnerships, foreign owned private companies as well as an ASX listed company.

How to become a financial analyst?

Here's just a sample of what you'll learn: 1 How to decipher general accounting terminology and gain a clear understanding of the language of finance and accounting 2 Gain insights to vastly improve your working knowledge and interpretive ability for balance sheets, income statements and cash flow statements 3 How to use your enhanced knowledge of financial statements to develop better budgeting, projection and forecasting skills 4 Interpreting annual reports: how to translate their deluge of information into knowledge that can help you make informed decisions 5 How to better communicate with accountants, bankers, comptrollers and other finance professionals 6 Using financial ratios to analyze trends, conduct industry comparisons and predict financial problems before they become insurmountable

What is current and quick ratio?

Current and quick ratios — two ways to determine your organization’s liquidity. A must-know formula for revealing inventory turnover and ensuring inventory management is on track. Using numerous other ratios to compare, analyze and make sense of financial data, including: Current liability to owners’ equity.

What are non-accounting considerations?

Non-accounting considerations that affect the value of financial statements. Two primary groups who are users of financial information — who they are, what they need to know. The difference between managerial accounting and financial accounting. Defining the role of the financial analyst.