Learn to use the Trial Balance information to create the two most important Financial Statements
This course teaches you how to interpret the Trial Balance accounts using the accounting rules that are applied at all levels of Accountancy. You will understand the importance of needing Financial Statements to make business decisions. You will learn how to create a Statement of profit & loss and other Comprehensive Income and a Statement of Financial Position.
What you’ll learn
- This course teaches you how to interpret Trial Balance accounts using the accounting rules that are applied at all levels of Accountancy..
- You will learn how to create a Statement of profit & loss and other Comprehensive Income and a Statement of Financial Position.
- Learn how to apply Accounting basics to a Trial Balance to create Financial Statements.
- Draw up draft sets of Financial Statements from a set of Trial balance accounts.
Course Content
- Course Overview –> 1 lecture • 5min.
- Introduction –> 1 lecture • 3min.
- Accounting Theory: Purpose of Accounting & Accounting Process/Cycle –> 2 lectures • 7min.
- Accounting Theory: Trial Balance to Financial Statements –> 1 lecture • 5min.
- Quiz 1 –> 0 lectures • 0min.
- Trial Balance Theory & Financial Accounting Disclosure –> 2 lectures • 14min.
- Practical Application: Creating Financial Statements (SoCI and SoFP) –> 1 lecture • 19min.
- Quiz 2 & 3 = Practical Accounting for Financial Statements –> 0 lectures • 0min.
- Summary and Conclusion –> 1 lecture • 4min.
Requirements
This course teaches you how to interpret the Trial Balance accounts using the accounting rules that are applied at all levels of Accountancy. You will understand the importance of needing Financial Statements to make business decisions. You will learn how to create a Statement of profit & loss and other Comprehensive Income and a Statement of Financial Position.
This course is suited for anyone who does not have a background in accounting but wants to learn what the most important skills for applying accounting knowledge and information at any level (basic to advanced) for financial statements