Accounting Basics

This course will teach you how to interpret the various accounts and statements published by businesses. Whether you're aiming to start a career in finance, looking to establish your own business, or simply need a refresher, this course has something for everyone. We begin the course by discussing the general concept of accounting, explaining what it means and what it entails. This leads us to ten key accounting principles that underpin the entire financial system. Once we've covered these principles, we'll delve into the three types of financial statements and their components, teaching you how to read and interpret them to gain a better understanding of a company’s financial performance. We'll provide real-life examples using Microsoft to make the concepts easier to grasp. But how are these statements created? What if you aspire to open your own business? We address these questions in the third and fourth sections of the course, starting with an explanation of the concepts of crediting and debiting accounts to track your financial expenses. We then explore the accounting cycle, a systematic procedure for documenting business operations. By the end of this cycle, you will understand how various transactions a business undergoes can be translated into easily readable financial systems.