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Financial Accounting and Cost Accounting
Published 2/2024 Created by Ankit Kumar Bajaj MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch Genre: eLearning | Language: English | Duration: 84 Lectures ( 10h 18m ) | Size: 6.9 GB Dive deeper into the preparation and interpretation of financial statements, including account concepts and GAAP What you'll learn: Explain how the balance sheet, income statement, and statement of cash flows are used, what they measure, and why we need three statements. Explain what is the balance sheet equation and why the balance sheet equation is the foundational model for accrual accounting/double entry accounting Locate a real company's annual report at their website and locate their financial statements within the annual report Explain the give and take of a transaction and how to record both sides of the transaction separately with the six stakeholders Explain why you can't measure profit with cash and why you need to use accrual accounting (double-entry accounting), not cash accounting Explain the basis for bookkeeping and basic accounting without learning bookkeeping Explain how the format of the operating activities section differs from the other two activities (investing and financing) Differentiate between income and cash flow Define what are assets, liabilities, and equity and how assets, liabilities, and equity relate Explain who are the six most important stakeholders of a corporation (employees, customers, government, vendors, lenders, investors) Explain which side of the give and take appears on the income statement and on the statement of cash flows Illustrate how accrual accounting can both record cash and profits using a spreadsheet Explain what each line item of the balance sheet means and distinguish between current and noncurrent assets, liabilities, and shareholders' equity Explain each important line item for the three sections of the statement of cash flows: operating activities, investing activities, and financing activities Explains cost accounting systems Explains main manufacturing cost elements Explains cost from the view point of the relationship with cost centers Calculates production cost according to the job cost system Calculates product costs according to the process costing Requirements: There are no prerequisites for the course. You do not need to know anything about accounting Description: Who this course is for: Business students who want a big picture view of accounting by understanding the end product, financial statements, not how the end product is created through bookkeeping Managers who want to read and understand financial statements without learning bookkeeping Investors who want to read and understand annual reports Non-accounting/finance employees in companies who want to determine how their company is doing without taking an accounting course Accounting/finance majors should not take the course