Introduction to Financial Accounting

Who this course is for

First-year accounting students, bookkeeping learners and anyone preparing for further study in financial accounting. No prior accounting knowledge is required.

Learning outcomes

• Explain the purpose of financial accounting and its key users
• Apply the accounting equation to everyday business transactions
• Record transactions from source documents into journals
• Post to ledger accounts and extract a trial balance
• Process basic year-end adjustments
• Prepare a simple statement of profit or loss and financial position

Modules and recorded lessons

1. 01Accounting foundations

   • ▸ What is financial accounting? · 12 min recorded
   • ▸ Users of financial information · 10 min recorded

2. 02The accounting equation

   • ▸ Assets, liabilities and equity · 14 min recorded
   • ▸ Analysing transactions · 16 min recorded

3. 03Source documents and journals

   • ▸ Source documents · 11 min recorded
   • ▸ Recording in the journals · 15 min recorded

4. 04Ledger accounts and trial balance

   • ▸ Posting to the ledger · 15 min recorded
   • ▸ Extracting a trial balance · 13 min recorded

5. 05Adjustments and financial statements

   • ▸ Year-end adjustments · 16 min recorded
   • ▸ Preparing the statements · 18 min recorded

6. 06Course review and final assessment

   • ▸ Course review · 12 min recorded

Live Q&A (sample)

Demo certificate criteria

• • Complete every lesson in all six modules
• • Score at least 70% (demo pass mark) in the final assessment
• • The certificate is a demo only and is not an official qualification