Overview
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Basic accounting equation
2 mins
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Basic accounting equation, T-Accounts, & journal entries
34 mins
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Set up transactions
50 mins
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Preparing financial statements
67 mins
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Sales of non-inventory assets
91 mins
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Statement of cash flows
120 mins
Course Description
Financial statements are written records that convey the business activities and the financial performance of a company. It includes a balance sheet, income statement, and cash flow statement. These are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings potential.
Speaker Jamie Pratt in this Online CPE course on Accounting covers the basics of financial reporting and analysis. It demonstrates the process of preparing a complete set of financial statements, including discussions of the basic accounting equation, journal entries, ledgers, and contra accounts (e.g., accumulated depreciation and treasury stock).
Following are the major topics covered in this Accounting CPE course:
- Form and style considerations (standardization and presentation considerations).
- A detailed review of classification, measurement, and presentation issues specific to accounts in each of the basic financial statements.
- Issues associated with the presentation of supplementary information.
This CPE webinar is designed for accountants in public practice and industry who need to gain an understanding of the basic financial statements!
Learning Objectives
- To discuss the basic accounting equation and explain how it relates to the financial statements.
- To analyze how to apply the basic accounting equation to transactions that lead to a simple balance sheet.
- To analyze how to apply the basic accounting equation to transactions that lead to a complete set of financial statements.
- To explain the structure and role of journal entries and ledgers.
- To discuss the use of journal entries and ledger accounts to prepare a simple balance sheet.
- To explain the use of journal entries and ledger accounts to prepare a complete set of financial statements.
- To analyze how closing entries transition the financial statements from one period to the next.
- To define contra accounts and the role it plays in the financial statements.
- To define treasury stock and describe where it can be found on the financial statements.
- To analyze how the sale of non-inventory assets affects the financial statements.
- To discuss and illustrate the difference between the accrual basis and cash basis of accounting.
- To demonstrate using several examples how net income on the income statement can be reconciled with net cash from operating activities on the statement of cash flows.
Recommended For
- This accounting CPE course for CPAs is recommended for CPA (US), CMA, CIA, QIAL, IAP, CFE, CVA, ABV, CBA/MCBA, CGFM, FPAC, CFA, CIPM, CFF, Accountants, Staff of Accounting Firms, and other accounting professionals who need to gain an understanding of the basic financial statements.
Who Should Attend?
- Accountant
- Accounting and audit managers/practitioners
- Accounting Firm
- Accounting Managers
- Accounting Practice Owners
- Certified Management Accountant (CMA)
- Certified Public Accountant (CPA)
- Certified Valuation Analysts
- Chartered Professional Accountant
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- Staff of Accounting Firm
- Young CPA