Financial Accounting Free Online Course

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FREE Online Course | Financial Accounting – Full list of topics

• Understanding Accounting in Business
• Users of Accounting Information
• Introduction to Financial Accounting
• Bookkeeping and Bookkeeping Systems
• Accounting Elements – Introduction
• Rules of Double Entry Bookkeeping
• Preparing Ledgers
• Introduction to Financial Statements
  • Balance Sheet or Statement of Financial Position
  • Income Statement and Statement of Comprehensive Income
• Accounting Cycle
• Accounting Concepts and Principles
  • Difference between accounting concepts, accounting principles and accounting rules
  • Qualitative Characteristics of Financial Statements
  • Separate entity concept / Business entity concept / Economic entity concept
  • Accruals concept
  • Going concern concept
  • Conservatism / prudence
  • Materiality
  • Stable measuring unit assumption
  • Monetary Unit Assumption / Money measurement concept
  • Matching principle
  • Substance over form
  • Consistency
  • Revenue recognition principle / realisation concept
  • Full disclosure principle
  • Time interval principle
  • Historical cost concept
  • Understandability
  • True and Fair override
  • Relevance
  • Completeness
  • Neutrality / objectivity
  • Duality concept
  • Verifiability
  • Constant purchasing power concept
  • Faithful representation
• Financial Accounting Vs Other types of Accounting
• Assets: Types and Classifications
• Inventory
  • Measuring cost of Inventory
  • Measuring Net Realisable Value (NRV) of Inventory
  • Inventory Cost Flow Assumptions
  • Periodic Vs Perpetual Inventory Systems
  • First In First Out (FIFO) Valuation Method
  • FIFO Advantages and Disadvantages
  • Last In First Out (LIFO) Valuation Method
  • LIFO Advantages and Disadvantages
  • LIFO Reserve / LIFO Effect
  • LIFO Liquidation
  • Dollar-value LIFO Method
  • Average Cost (AVCO) Valuation Method
  • AVCO Advantages and Disadvantages
  • Lower of Cost and NRV Rule
• Non-current Assets
  • Property, Plant and Equipment (PPE)
  • Accounting for acquisition of PPE
  • Subsequent to Acquisition Expenditures
  • Depreciation of non-current assets
  • Straight-line method of depreciation
  • Accelerated methods of depreciation
  • Sum of years’ Digits (SYD) Method of Depreciation
  • Declining Balance Method of Depreciation
  • Units of production method of depreciation
  • Depletion method of Depreciation
  • Revision of Estimates – Depreciation rate, Useful life, Residual Value
  • Accounting for Depreciation of Non-current Assets
  • Revaluation of Non-current Assets
  • Depreciation of revalued non-current assets
  • Intangible Assets
  • Goodwill
• Taxation
  • Sales tax
  • Provision for Income tax
  • Deferred taxation
• Financial Statement Analysis – Introduction
  • Financial Statement Analysis Framework
  • Financial Analysis Techniques – Introduction
• Ratio Analysis
  • Activity ratios
  • Cash conversion cycle
  • Cash ratio
  • Current ratio
  • Defensive Interval ratio
  • Fixed Asset Turnover ratio
  • Liquidity ratios
  • Inventory turnover ratio
  • Inventory turnover period ratio
  • Accounts payable turnover ratio
  • Accounts payable turnover period ratio
  • Receivable turnover ratio
  • Receivable turnover period ratio
  • Quick Ratio
  • Profitability ratios
  • Gross profit margin / Gross margin ratio
  • Net profit margin
  • Return on Assets (ROA)
  • Return on capital employed (ROCE)
  • Return on Equity (ROE)
• Common-size Financial statements Analysis
  • Common-size income statement
  • Common-size statement of financial position

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