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FA3 Understanding Assets Liabilities and Equity

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Lessons List | 52 Lesson

FA1 Introduction to Financial Accounting

FA1 Introduction to Financial Accounting

FA2 The Accounting Equation EXAMPLE

FA2 The Accounting Equation EXAMPLE

FA3 Understanding Assets Liabilities and Equity

FA3 Understanding Assets Liabilities and Equity

FA4 Preparing the Financial Statements

FA4 Preparing the Financial Statements

FA5 Preparing the Income Statement

FA5 Preparing the Income Statement

FA6 Preparing the Statement of Changes in Equity

FA6 Preparing the Statement of Changes in Equity

FA7 Preparing The Balance Sheet

FA7 Preparing The Balance Sheet

FA8 Financial Ratios

FA8 Financial Ratios

FA9 Journal Entries Explained

FA9 Journal Entries Explained

FA10 Journal Entries Example

FA10 Journal Entries Example

FA11 T Accounts Explained

FA11 T Accounts Explained

FA12 The Trial Balance Example

FA12 The Trial Balance Example

FA13 Adjusting Journal Entries Explained

FA13 Adjusting Journal Entries Explained

FA14 Adjusting Journal Entries EXAMPLES

FA14 Adjusting Journal Entries EXAMPLES

FA15 Adjusting Journal Entries MORE EXAMPLES

FA15 Adjusting Journal Entries MORE EXAMPLES

FA16 Adjusted Trial Balance

FA16 Adjusted Trial Balance

FA17 Preparing Detailed Financial Statements

FA17 Preparing Detailed Financial Statements

FA18 Closing Journal Entries EXPLAINED

FA18 Closing Journal Entries EXPLAINED

FA19 Accounting for Cash

FA19 Accounting for Cash

FA20 Bank Reconciliation Example

FA20 Bank Reconciliation Example

FA21 Completing Bank Reconciliations The Journal Entries

FA21 Completing Bank Reconciliations The Journal Entries

FA22 Accounts Receivable Explained

FA22 Accounts Receivable Explained

FA23 Accounts Receivable Percentage of Sales Method Example

FA23 Accounts Receivable Percentage of Sales Method Example

FA24 Accounts Receivable Aging of Receivables Method

FA24 Accounts Receivable Aging of Receivables Method

FA25 How do you Write Off an Receivable

FA25 How do you Write Off an Receivable

FA26 Introduction to Inventory

FA26 Introduction to Inventory

FA27 Inventory Discounts 2 10 Net 30 EXPLAINED

FA27 Inventory Discounts 2 10 Net 30 EXPLAINED

FA28 Income Statement Example NOW WITH COGS

FA28 Income Statement Example NOW WITH COGS

FA29 Merchandiser s Financial Statements Stmt of Changes in Equity

FA29 Merchandiser s Financial Statements Stmt of Changes in Equity

FA30 Merchandiser s Financial Statements Balance Sheet

FA30 Merchandiser s Financial Statements Balance Sheet

FA31 Inventory FIFO LIFO Weighted Average Explained

FA31 Inventory FIFO LIFO Weighted Average Explained

FA 32 Inventory FIFO Method FIXED

FA 32 Inventory FIFO Method FIXED

FA 33 Inventory LIFO Method

FA 33 Inventory LIFO Method

FA 34 Inventory Weighted Average Average Cost Method

FA 34 Inventory Weighted Average Average Cost Method

FA 35 Capital Asset Depreciation

FA 35 Capital Asset Depreciation

FA 36 Straight Line Depreciation Example

FA 36 Straight Line Depreciation Example

FA 37 Units of Production Depreciation Example

FA 37 Units of Production Depreciation Example

FA 38 Double Declining Balance Depreciation Example

FA 38 Double Declining Balance Depreciation Example

FA 39 Selling an Asset at a Gain or Loss Example

FA 39 Selling an Asset at a Gain or Loss Example

FA 40 Liabilities Warranties and Bonds

FA 40 Liabilities Warranties and Bonds

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The accounting training was comprehensive and practical, with well-organized materials and knowledgeable trainers who explained concepts clearly; however, it would benefit from more real-world case studies, interactive sessions, hands-on practice with accounting software, and tailored tracks for different skill levels, while follow-up sessions could further reinforce learning and application. 2025-05-29

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Course Description

There are two types of financial accounting: cash and accrual accounting. Both methods use double-entry accounting to accurately record financial transactions. While very small businesses frequently use cash accounting, all larger businesses as well as publicly traded businesses are required to use accrual accounting.What is the main function of financial accounting? The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities.What is Financial Accounting example? Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.What are the 5 accounting concepts? : Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Duality Aspect concept, Realisation Concept, Accrual Concept and Matching Concept.What are the 4 types of accounting? These four branches include corporate, public, government, and forensic accounting.What are the 2 types of accounting? The two main accounting methods are cash accounting and accrual accounting. Cash accounting records revenues and expenses when they are received and paid.What are the advantages of financial accounting? Advantages of Accounting Maintenance of business records. Preparation of financial statements. Comparison of results. Decision making. Evidence in legal matters. Provides information to related parties. Helps in taxation matters. Valuation of business.What are the three main functions of accounting? There are three main functional areas of accounting which need to be considered in modern day accountancy for any business. The three areas are, cost, finance and management accounting.

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