Please print the PDF Handout shown below. This handout will be referred to throughout all 14 parts of this Financial Statements Video Training
Introduction to the main financial statements and accounting rules, balance sheet heading and sections, reporting of cash
Balance sheet: accounts receivable, estimated allowance for doubtful accounts, inventory cost flows (FIFO & LIFO)
Balance sheet: prepaid expenses; current assets; investments; property, plant and equipment
Balance sheet: property, plant and equipment (accumulated depreciation, book value)
Balance sheet: asset classifications (intangible assets, other assets)
Balance sheet: current liabilities (notes payable, accounts payable, accrued expenses, customer deposits)
Balance sheet: long-term liabilities, stockholders' equity
Balance sheet: working capital, current ratio, financial leverage, notes to financial statements, comparative balance sheets
Income statement: revenues, cost of goods sold, expenses, nonoperating items
Income statement: formats (multiple-step, single-step, comparative, amounts as % of net sales)
Connection between the income statement and balance sheet
Statement of cash flows: introduction, cash flows from operating activities
Statement of cash flows: cash flows from operating activities, cash flows from investing activities, cash flows from financing activities, quality of earnings
Statement of cash flows: free cash flow; statement of owner's equity
Featured Review
"I was looking out for an online accounting course after a gap of 25 years. Luckily, I came across AccountingCoach. The very first visit to this site made me feel very comfortable. I felt as though it was made just for me. Very soon I enrolled myself as a PRO member. Now that I am able to access the entire site like the seminars, exams, crosswords and many many more interesting ways to learn accounting, my knowledge in accounting has deepened. I can confidently say to people who are new to this field, or who are trying for a refresher course like me, this is THE WEBSITE for you. It's a well structured program, the most difficult accounting concepts have been explained in a very crystal clear fashion with beautiful real-life examples. Thanks to Mr Harold Averkamp and his dedicated team for sharing their deep insight without whom I wouldn't be ready to give my bookkeeping exams shortly." - Sunita P.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,645 reviewsWe now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping: