1.3. Key financial statements – BS, IS, SCF

Course video 4 of 72

In Week 1 we discuss the scope of accounting and its two major areas – financial and managerial accounting. In the first part of the Course – Weeks 1 through 3 – we talk about financial accounting (FA). First, the key financial statements – the Balance Sheet (BS), the Income Statement (IS), and the Statement of Cash Flows (SCF) – are introduced, and the accounting equation is analyzed. Then we move on to the basic accounting principles, standards, and approaches – from double-entry bookkeeping to GAAP. Equipped with the general understanding of the financial accounting approach, we apply accounting procedures to transaction analysis. Then we study revenue and expense recognition, and focus on accounts receivable and bad debts. Finally, you will learn how financial accounting deals with inventories.

Acerca de Coursera

Cursos, programas especializados y títulos en línea impartidos por los principales instructores de las mejores universidades e instituciones educativas del mundo.

Join a community of 40 million learners from around the world
Earn a skill-based course certificate to apply your knowledge
Gain confidence in your skills and further your career