Accounting Fundamentals - Accountancy Course

[Level 1] Construct an income statement, balance sheet, and cash flow | taught by Scott Powell
  • 63 Videos
  • 7 Quizzes
  • 1 Survey
  • 2 Downloads
  • 2.0 hrs

Course Curriculum

$347.00
FULL ACCESS Bundle - 18 courses and certificates worth over $1,800+ value. Financial modeling, valuation, analysis and more.

Course description

This free 2-part accounting fundamentals course will guide you through the accounting process. We explore the layout of the balance sheet, income statement, and cash flow statement; and demonstrate how to prepare financial statements from scratch. This accountancy course is an essential building block for performing financial modeling and other wall street financial analysis.


Part 1 - Constructing an income statement and balance sheet
In the first module of this accountancy course, we explore the layout of the balance sheet and income statement, explore how transactions are recorded, and prepare a simple balance sheet and income statement. By the end of this module, you will have a solid understanding of how to construct a balance sheet and income statement.

  • Explain the format of the income statement and balance sheet
  • Define various financial statement terms (e.g. accounts receivable, prepayments, etc.)
  • Record financial statement transactions (e.g. invoicing, raising equity, buying inventory, etc.)
  • Prepare a simple income statement and balance sheet

Part 2 - Constructing a cash flow statement
In this second module of this accountancy class, we explore the layout of the cash flow statement, explain the differences between the cash flow statement and the income statement, and prepare a cash flow statement from scratch. By the end of this module, you will have a solid understanding of how to construct a cash flow statement.

  • Outline the format of the cash flow statement
  • Explain the difference between profit and cash
  • Prepare a simple cash flow statement using the balance sheet and income statement


This online accounting course incorporates a wide range of applied exercises and case studies. Sophisticated search and navigation tools allow you to go at your own pace while pop quizzes test what you’ve just learnt. The course also includes two PDF reference guides – an accounting factsheet and a financial statements glossary - that can be used while taking the course and downloaded to your computer for future reference. This is the ultimate accounting crash course to prep for wall street careers!

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Instructor

Scott Powell
Scott Powell
Head Instructor, Managing Director, MDA Training

Scott has over 15 years experience designing and delivering Wall Street training programs for bulge bracket investment banks.

As Managing Director, MDA Training North America, he works with clients to design and deliver customized learning solutions. His areas of focus are:

    • Commercial banking
    • Investment banking
    • Capital markets
    • Asset management

Scott's clients include Allied Irish Bank, ATB Financial, Bank of America Merrill Lynch, Brandes Investment Partners, Credit Suisse, Coast Capital Savings, Deutsche Bank, Glenview Capital, HSBC, ING, Intact Insurance, JP Morgan, Royal Bank of Scotland, TD and many others.

Prior to joining MDA Training, Scott worked at Ernst & Young and is both a Canadian and UK Chartered Accountant with an honours degree in politics/economics from Trent University, Canada and a master’s degree in international relations/economics from Cambridge University.

Scott sits on the advisory board of the student-run National Investment Banking Competition and Conference which in 2014 attracted over 150 competing teams from universities across North America.

Reviews (49)

Great Course!!

by Sweta Rani
As I don't have any background related to accounting, this course helped me get acquainted with some of the terms and concepts. Fundamentals have been explained very clearly with examples which help in fast learning. Thanks!!

Interesting course

by Richard Kwame Ahuntor
I really learned a lot from this course

Good course

by Kumar Srijan Singh
This course is very helpful for beginners in the field of accounting and finance. CFI thank you for your support and I will highly recommend others for the course.

by DANIEL TERER
Very good
Read more

Great Course!!

by Sweta Rani
As I don't have any background related to accounting, this course helped me get acquainted with some of the terms and concepts. Fundamentals have been explained very clearly with examples which help in fast learning. Thanks!!

by Lancelot Berlemont

by Steve Columbaro

by Milind Gupta

Interesting course

by Richard Kwame Ahuntor
I really learned a lot from this course

Good course

by Kumar Srijan Singh
This course is very helpful for beginners in the field of accounting and finance. CFI thank you for your support and I will highly recommend others for the course.

by Raymond Ogagarue

by DANIEL TERER
Very good

Refresher course

by Ma. Lourdes Barangan
Nice module and it's very helpful.

EXCELLENT

by CRISTIANO SOARES
Using short and understandable definitions, the course guides through the concept easily and the least you know you get all the information that is necessary throughout the course. Excellent course.

GREAT FOR BEGINNERS

by Hassan Javaheri
As a beginner in accounting, it was a very useful course. Thank you guys.

Very well explained

by Jay Savla
Seemingly difficult concepts explained in a very simple, understandable and interesting manner. Really helpful!

by Salah Mohammed Elboraey

Excellent

by Ajit Singh
The visualization used in the course was very good. The pace was good and the examples focused on the core topic. Good one.

Great Foundations Course

by Lendora Thompson-Saunders
Great refresher for a seasoned accounting professional.

Great course

by ALCECK MAVINIKI
This course is fruitful as far as the accounting field is concerned. Its simple but of high value and it is enriched with basic fundamentals of accounting. Distance and finance is not a barrier you can learn wherever you are.

Awesome Course

by Emmanuel Babarinde
It was good time spent on this course, I have an improved knowledge about the fundamentals of accounting now. Thanks.

Good start

by dinakar yarramilli
It's really helpful and informative.

Finance Made easy

by Alicia Narine Paul
I enjoyed this course because it was easy to understand

Great intro session - exercises still need work

by Kashaf Morrow
The first exercise in the balance sheet prep calculates depreciation before this is covered in the course. All exercises need to be reviewed for consistency. The course content however is very clear and concise and a good introduction to accruals method of accounting

Excellent introduction

by David Sams
Very good introduction to accounting fundamentals

by Elena Puică

Another great class from CFI

by Yves Seybel
Easy to follow, clear examples and plenty of exercises to work on.

Accounting Fundamentals

by Wavell Van Wyk
The course very informative and very practical

Accounting Fundamentals

by Wavell Van Wyk

Accounting fundamentals

by S. Victoria C. Kougnimon Aholou

Simple & Fundamental

by Ajay Mangal
As an accounting professional I found this course a refresher of my knowledge of accounting fundamentals. Explained in an easy to understand way, even for a non-accounting person.

by Swastik Pradhan

Accounting fundamentals

by SELLO SEBOPETJA
Better than i expected. I now have a better understanding and a solid foundation. thank you.

Succint and accurate

by Richard Hastings
Good base level of accounting. Doesn't get in to too much unnecessary accounting jargon and its intricacies. The word doc's used for Part 1 examples are a little clunky though.

by Jan Novák

Great course!

by Stanislav Boyadjiev
Very useful and simple financial accounting course, with good exercises!

by Abhishek tiwari

The best understanding of accounting in the minimum possible time

by Rishad Reza Nur
My experience taking this course is very impressive. The course has provided the basic platform of understanding accounting with minimum effort and minimum time, even if you're not from a business background.

by Tchounkeu Jemia Hermann Jephte

by Aarav Singh

by Barrack Mandela
Excellent

by SUNIL KUMAR SINGH

by thrupti alva

HAPPY

by Yousif Nasir
GOOD

Review on Accounting Fundamentals

by Swan Aung
Accounting Fundamentals is useful for business.

Nice for fundamentals review

by Jared Blum
Great review of key accounting concepts required for financial analysis and building a financial model. This is like an accounting 101 course condensed into a few hours.

accounting

by Mukesh Kumar Genolia
accounting

by DANDORIPALLE NAGA RAJU

Accounting Fundamentals

by Michael Collins
Really good level of detail and explanation. The exercises are really useful.

Accounting Fundamentals

by Zach Allwright
Overall, This course was excellent! I enjoyed the process and extracted great value from the content even from an intermediate level student.

Learn all you need to know about accounting

by Barbara Alvarez
This course presents the layout of the balance sheet, income statement, and cash flow statement. Great way to learn how to prepare financial statements from scratch. Scott Powell is an excellent instructor! Highly recommend this course to anyone interested in learning the fundamentals of accounting.

Accounting made easy

by JJ Walker
This course provided a great explanation of many accounting concepts I've struggled with in the past. Really helpful for me in building my confidence as a non finance person who wants to learn more without going back to school.

Like going to B School at home

by Sarah Lawson
This course was better than most accounting courses I took in school and a great refresher for my new job in AP. Highly recommend it to anyone who wants a free course that's super easy to follow