[Free] Financial Statements, Basically
Prepare financial statements through the journey of a startup – Free Course
What you’ll learn
- Read the balance sheet, income statement, and cash flow statement
- Construct the balance sheet, income statement, and cash flow statement
- Analyze business transactions and their effects on the financial statements
- Learn the business cycle of a startup
Requirements
- No prior knowledge needed. You will learn everything you need to know.
Description
This course explains financial statements through the business cycle of a startup. It introduces the balance sheet, income statement, and cash flow statement. Videos are in bitesize chunks, ranging from 90 seconds to 7 minutes. Students will learn how to:
-
Prepare the Balance Sheet: Determine a company’s financial position through its assets, liabilities, and shareholders’ equity.
-
Prepare the Income Statement: Track the company’s profitability by calculating revenues, expenses, and net income.
-
Prepare the Cash Flow Statement: Evaluate the cash inflows and outflows from operating, investing, and financing activities.
This course goes through the first three years of the startup from inception to exit. As the years go by, the financial statements become more complex to reflect the startup’s growth. Topics explored in this course include:
-
Matching Principle, Revenue Recognition: Know when revenues and expenses should be recorded to accurately reflect the company’s financial performance.
-
Revenue Growth: Know how revenue growth impacts financial statements year over year.
-
Line Items: Know the common line items on financial statements.
