Diplomado en Coaching
Características del Curso
Detalles del Curso
- The Accounting Equation (One you can understand!)
- Balance Sheets
- Income Statements
- Debits and Credits (And how to know which is which!)
- Why Profit Does Not Equal Cash!
What = Who
The accounting equation is the basis of accounting. However, the formal equation can be confusing. In this lecture you will learn the simplified equation (What=Who) and how it is the foundation of the accounting profession. By the end of the lecture you will understand the more formal accounting equation.
Let's Buy a Car
The best way to learn the accounting equation is to look at an example that we are all familiar with. In this lecture we will buy a car. We will look at this purchase from two views: what are our assets and who has claim to them. Please excuse my car drawing skills! By the end of the lecture you will have a clearer understanding of the accounting equation.
Some Practice Entries
This lecture will begin to use specific accounts. Accounts summarize similar activities. You will begin to see which accounts are assets, which are liabilities and which are equity.
Debits = Credits
Debits and credits give accounting students fits. In this lecture you will get a clear understanding of what is a debit and what is a credit. You will know by the end of the lecture when to debit and when to credit. You will find that this is a painless activity!
The Trial Balance
A trial balance is just that: we try to balance. In this lecture we will set up a trial balance and see why it is an important tool for accountants. And you will understand why it can save us a lot of time before we prepare our financial statements.
In this lecture we prepare our first financial statement! It is the Balance Sheet. You might have seen balance sheets before. You will see how they are prepared and what they mean. Your knowledge from the previous lectures will give you the skill to understand the details on this statement.
In the very early days of accounting, business managers did not have an easy mechanism for keeping track of income and expenses. In this lecture you will see why we developed income and expense accounts. You will understand their impact on equity. You will see how they are related to the balance sheet.
In this lecture you will learn the connection between net income and the balance sheet. By the end of the lecture you will see how income (and expense) affects the balance sheet.
It's All About Timing
Many business owners and managers believe that profit equals cash. That mistaken belief can jeopardize their businesses. In this lecture you will see why profit does not equal cash. You will also understand when we recognize income and when we recognize expenses.
Expenses and Timing
This lecture will explain why cash can go out of our business before we make an expense, when we make an expense or after we make an expense. Again you will gain insights to why profit does not equal cash. This information along with what you learned in the previous lecture will demonstrate how important it is for a business to manage cash flow.
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