Udemy

Foundations of Financial Accounting

Name: Foundations of Financial Accounting
Availability: InStock
Rating: 4.7 (76 reviews)

4.7(76)1k studentsBEGINNER

Korshub's take

Building Accounting Fundamentals From First Principles

This course lays out financial accounting as a system of rules rather than a list of things to memorize. It opens with the distinction between cash and accrual accounting and why accrual is the standard applied throughout, then moves into the certifications, ethics, laws, and internal controls that shape the profession before working through the ten basic transactions in depth — including reverses, combinations, and triggers.

Who It's For

Beginners who want a genuinely intuitive route into debits, credits, and account balances, especially students who need their homework software's traditional format translated into something that actually makes sense.

Key Takeaways

A practical, intuitive approach to debits, credits, and account balances
How to apply the ten basic transactions, including trickier variations
Self-graded practice sheets plus a glossary of key terms and account definitions

About this course

Lesson 1: A Brief Look Inside the Financial Foundations Module

An overview of what you will be learning in this important module.

Lesson 2: Cash vs. Accrual Accounting

Learn by principles and example the difference and why you will be applying accrual accounting in this course.

Lesson 3: Certifications, Organizations, Ethics, Laws and Internal Controls

The foundations of all the interacting pieces that add professionalism and trust to the accounting profession.

Lesson 4: How the Process Works Repeated and Expanded

More Why. The Principles (big rules) and all of the supporting rules that you will be applying in this course in a concise format.

Lesson 5: The Ten Basic Transactions Expanded: Reverses, Use, Combinations, Triggers

Learn the intuitive approach to some otherwise confusing transactions and you will be really ahead of the game. When you reach them later in this course you will understand them instead of just memorizing them.

Lesson 6: Demystifying Debits Credits and Account Balances

The simple Practical T format is recapped here before you apply it.

Lesson 7: Using the Practical Approach in your Homework Software

Even though the Practical T is the better way, your homework is most likely formatted in the traditional, non-intuitive way. This is your simplified guide to ace your homework as you really learn it.

Lesson 8: Transaction Practice - Self Graded

Apply what you have learned in a practice sheet. Smiley faces mean that it is correct. The keys are on the next two sheets.

Extra Copy of Transaction Guide, 16 Key Terms, 20 Account Definitions