Accounting 101: Financial Accounting

Watch financial accounting video lessons and learn about accounting terms, financial statements and more. Each lesson offers a short, multiple-choice quiz for self-assessment. 

About the Course

Get an introduction to accounting before delving into more complicated topics, like reporting and analyzing equity and interpreting financial statements, through Accounting 101: Financial Accounting. Our accounting instructors have developed a series of brief, engaging video lessons and self-assessment quizzes to boost your knowledge of ethics in accounting, nominal accounts and depreciation, among other topics.

Course Topics

Introduction to Accounting Learn about the purpose of accounting, generally accepted accounting principles, ethical accounting and technology in accounting.
Financial Statements Study balance sheets, income statements and cash flow statements. Find out how to prepare different financial statements and about the auditing process.
Mechanics of the Accounting Cycle Take a look at accounting equations, source documents, categorizing transactions and recording business transactions. Also learn about debits, credits, journal entries, the trial balance and determining a company's performance based on financial statement ratios.
Adjusting Accounts and Preparing Financial Statements Examine periodic reporting, the time period principle, accrual accounting, cash-basis accounting, adjusting accounting and recording closing entries. Additionally, study real vs. nominal accounts and the post-closing trial balance.
Internal Controls Find out about internal controls, safeguards and bank reconciliation. Also, learn about technology and internal control, the limitations of internal control, the Sarbanes-Oxley Act and the Securities and Exchange Commission.
Merchandising Operations and Inventory Learn about merchandising activities and study cost of goods sold, inventory systems, the perpetual system and inventory errors.
Receivables Study accounts receivable, revenue recognition, the allowance method, notes receivable and disposing of receivables.
Completing the Operating Cycle Examine employee compensation, taxes, environmental liabilities and operations of an income statement.
Long-Term Assets Take a look at long-term operating assets, plant assets, the cost principle, acquisition of property, computing depreciation, natural resource assets and accounting for intangible assets.
Current and Long-Term Liabilities Learn about liabilities to find out how to estimate, measure and account for them. Also, study bond financing, issuance and retirement.
Reporting and Analyzing Equity Explore loans, equity investments, raising equity financing, corporations, stockholder's equity, common and preferred stock, accounting for stock and retained earnings.
Statement of Cash Flows Take a look at the cash flow statement, including classification of cash flows and analyzing cash flow. Also learn about noncash investing, preparing a cash flow statement and indirect and direct methods of reporting.
Financial Statement Analysis and Interpretation Find out about the purpose and elements of financial statement analysis, standards for comparison, horizontal analysis, vertical analysis and financial ratio analysis. In addition, study financial ratios for companies, efficiency ratios, leverage ratios and issues with financial statement analysis.

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Education Portal's 53 instructors bring a diverse array of experience and expertise to each course. From teaching philosophy in Athens, Greece, to exploring the mystery of genetics, each instructor is uniquely qualified to bring students the best online learning experience possible. Meet them now!

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