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Easiest Way To Create & Understand Profit & Loss Statements and The Balance Sheet – Step by Step Approach!
What you’ll learn
- Students will be able to create Profit & Loss Statements and The Balance Sheet
- Students will be able to understand the important financial statements
- Students should be able to work as Book keepers with some practice
Principles Of Accounting:
“Accounting 105 is the 5th and Last Part out of a series of Accounting Courses that are designed to help the complete beginner, go on to master the basics concepts of accounting and move on step by step to become a professional accountant!
Students can further their knowledge of key accounting concepts which they can use in their full time employment goals or even can use this series to pick up freelance jobs to earn passive income by maintaining/completing book keeping entries for others via freelance websites
The course is not just theory but also takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment.
This is a slow moving course. Please do not expect me to move fast since it is designed for the beginner student. Those students who are already aware of accounting concepts should take a more advanced level course instead.
In this course we are going to learn about the basic accounting principles of:
- Calculating Sales & Net Sales
- Calculating Purchases & Net Purchases
- Finding the Cost of goods sold
- Calculating the Gross Profit
- Calculating the Net Profit
- Creating the Profit & Loss Statement
- Creating the Profit & Loss Statement with year end adjustment entries
- Current Assets vs Non-Current Assets
- Creating the Balance Sheet From Scratch
- Using and building a template to create P&L Statements and the Balance Sheet
- Solidify your knowledge through Practice Questions and check your answers
Having completed the entire series students of the proper age would be able to take up entry level jobs as book keepers, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.
The other parts of this Accounting Series are as follows:
Accounting 102 – The Ledger & The Trial Balance
Accounting 103 – The Special Journals & The Subsidiary Ledgers
Accounting 104 – Bank Reconciliation & Correction Of Errors
- Anyone looking to learn Accounting as a Beginner
- Those looking to make passive income taking on freelance jobs
- Those looking to grow their accounting skills & obtain higher level of understanding of accounting concepts