Financial and Business Accounting Fundamentals

What this subject covers

Lesson topics

1. The Purpose of Accounting and Users of Financial Information
2. Basic Accounting Concepts and Principles
3. The Accounting Equation and Double-Entry Bookkeeping
4. Recording Transactions: Journals and Ledgers
5. The Trial Balance and Correcting Errors
6. The Income Statement (Profit and Loss)
7. The Balance Sheet (Statement of Financial Position)
8. The Cash Flow Statement and Cash Flow Management
9. Basic Financial Ratio Analysis for Business Decision-Making
10. Budgeting and Financial Planning for a Small Business
11. Depreciation of Fixed Assets: Methods and Calculations
12. Accounting for Inventory: Stock Valuation Methods
13. Bank Reconciliation Statements
14. Accruals and Prepayments: Matching Income and Expenses
15. Control Accounts and Subsidiary Ledgers
16. Accounting for Bad Debts and Provisions for Doubtful Debts
17. Capital Expenditure vs Revenue Expenditure
18. VAT and Sales Tax Basics for a Small Business
19. Payroll Accounting Basics
20. Break-Even Analysis and Cost-Volume-Profit Analysis
21. Sources of Business Finance: Debt vs Equity
22. Internal Controls and Fraud Prevention
23. Introduction to Auditing for Small Businesses
24. Financial Statement Analysis for Investors and Lenders
25. Ethics and Professional Standards in Accounting