Accounting Basics for Success in Business and in Life

Understand Bookkeeping, Accounting, Financial Statements & Ratio Analysis in this easy to follow course.
Accounting Basics for Success in Business and in Life
File Size :
2.76 GB
Total length :
5h 10m



Uday Gehani


Last update




Accounting Basics for Success in Business and in Life

What you’ll learn

You will BUILD A SOLID FOUNDATION IN UNDERSTANDING BUSINESS by learning the Basics of Accounts.
You will LEARN TO READ FINANCIAL STATEMENTS to assess the health of any Business.
You will understand how the Income Statement, Balance Sheet and Cash Flow Statement work and tie in together.
You will learn about common Entrepreneur mistakes – such as not understanding the difference between Profits & Cash Flow which drain an Entrepreneurs Resources.
You will learn practical strategies which can be used to REACH BUSINESS GOALS FASTER.
You will learn ‘Accounting Jargon’ and ‘Real Life Business Examples’ making you a better Investor.
You will have a complete ‘Paradigm shift’ in how you view business making you understand the world of Business better.
You will learn the Basics of Bookkeeping and how to use free Accounting Software to manage Accounts
You will learn about RATIO ANALYSIS & FINANCIAL RATIOS to help you get quick & insightful information about companies.

Accounting Basics for Success in Business and in Life


Know English.
Understand Basic Math.
A basic calculator would be helpful to solve some Quizzes but is not required.
No other prior Accounting knowledge is needed – Just a curious mind!


Has Accounting always sounded like a foreign language to you?Do Financial Statements add so much confusion to your life that you secretly avoid them?If you are struggling to understand ‘the numbers’ as they say and have answered YES to ANY of these questions – You’ve come to the right place.”Over 1,800 people have trusted this course to give them a good overview of the most important aspects of Accounts and Financial Statements”This course is designed to give you must needed insights into the World of Accounts where we go over the building blocks of Bookkeeping, Accounting, Financial Statements and Ratio Analysis together.There are Six Sections to this Course -The First Section goes through Accounting Lingo and is perfect for beginners to start understanding the language of Accounts. This section is meant for people who have little working knowledge of accounts. This Section will help bring you up to speed with Basic Accounting Vocabulary. After all, if you were to learn any Language you would start with the ABC’s right?In the Second Section – We go through what is called the Accounting Cycle (which in plain English simply means the process Accountants follow). If you’ve ever wondered what Accountants really do- you’ll get a sneak peek in this section. Plus, I give you a cool little trick to understand journal entries- the building blocks of accounting functionality. If Debits and Credits have ever confused you in school- you’ll never be confused again. Many people also get confused by the term Bookkeeping and don’t fully understand the functioning of Bookkeepers in the Business process and we also go over that together in this section. Once you know more about the Accounting Cycle you’ll uncover the mystery behind the numbers of your Business.Section Three takes us away from the world of the theoretical into the world of the practical as we take the knowledge we have learned from Sections 1 & 2 and put it into practice by taking a deep dive and learning a Free Accounting Software called Wave.In Section Four- we will look at and understand the 3 Main Financial Statements – The Balance Sheet, The Income Statement and the Cash Flow Statement. If you have not understood Financial Statements in the past and why they are so important – You’ve been missing out!  Understanding Financial Statements is a MUST for anybody who wants to make a dent in the world of Business. If you own a Business or ever plan to own one – Understanding how to read Financial Statements can take you from being a good business owner to a great one. They can take you from an Average investor to a Savvy one.Section Five teaches you Ratio Analysis. Ratio Analysis allows you to thoroughly analyze a company’s performance using the companies Financial Statements. Learning how to calculate Financial Ratios can help give you quick and insightful information about companies.Last, but not least we have all the commonly asked questions as part of an ongoing library assembled and put together in Section Six.This course is made in an easy to follow, topic by topic format with plenty of quizzes to test your learning along the way. You will also be seeing a bit of my zany humor in bits and pieces so please find it in your heart to forgive me. After all, most accounting courses have put me to sleep and if that’s the kind of course your looking for then this course is not for you. This Course is also NOT designed to save your Marriage or get you a date with Katy Perry (Or Brad Pitt if you prefer). See, I warned you about my zany humor, didn’t I?Apart from any of the humor – more importantly – This Course WILL give you a Good rundown into the world of Accounts – something which I believe will help you and your business in many ways throughout your lifetime.With Best Regards,Uday Gehani


Section 1: “Accounting Speak”

Lecture 1 Introduction – Is this Course for you?

Lecture 2 Mind the GAAP

Lecture 3 Not All Accounting Standards are created Equal!

Lecture 4 Types of Accounting – Financial Accounting

Lecture 5 Managerial Accounting- Can you keep a secret?

Lecture 6 Tax Accounting- Everyone Must Pay!

Lecture 7 Learning the Language of Accounting

Lecture 8 The Accounting Equation & it’s Components- Assets, Liabilities & Owners Equity

Lecture 9 Revenue, Expenses, Earnings and More!

Lecture 10 Gains and Losses

Lecture 11 A Deep Dive into the Accounting Equation

Lecture 12 Examples of the Accounting Equation

Section 2: The Accounting Cycle

Lecture 13 An Introduction to Section 2

Lecture 14 The Chart of Accounts

Lecture 15 Technology and the Chart of Accounts

Lecture 16 The Accounting Cycle – The Journey of a Transaction

Lecture 17 Transactions and Breaking Down a Journal Entry

Lecture 18 Debits and Credits

Lecture 19 The Basics of Bookkeeping

Lecture 20 T- Accounts

Lecture 21 Trial Balances, Adjusting Entries and Closing out the Accounting Cycle

Lecture 22 Question 11 – Meet the Big Boss!

Section 3: Using FREE Accounting Software to manage your Bookkeeping & Accounting Needs

Lecture 23 The Different Accounting Software Available in the Market

Lecture 24 A New Announcement made by Wave

Lecture 25 An Introduction to Wave: The Free Accounting Software

Lecture 26 Setting Up a New Wave Account

Lecture 27 Setting Up a Chart of Accounts in Wave

Lecture 28 Recording Transactions in Wave

Section 4: Financial Statements – The Measures of Performance

Lecture 29 Financial Statements and why they are necessary

Lecture 30 Types of Financial Statements

Lecture 31 The Income Statement – Exploring the Earnings

Lecture 32 Disclosing Financial Statements – Private vs. Public Companies

Lecture 33 Martians – Keeping things in the Family!

Lecture 34 The Income Statement – in Practice

Lecture 35 An Independent Review of the Income Statement

Lecture 36 Reviewing the Income Statement

Lecture 37 The Balance Sheet – Assets – The more the Better!

Lecture 38 And now we meet the other half – Liabilities and Owner’s Equity.

Lecture 39 The Balance Sheet – In Practice

Lecture 40 Cash Vs. Accrual Accounting – Uncovering Hidden Secrets of Financial Statements

Lecture 41 Diving Deeper into Accrual Accounting!

Lecture 42 ‘Cash is King’ – The Cash Flow Statement

Lecture 43 The Cash Flow From Operations – Indirect Method

Lecture 44 The Cash Flow From Operations – Direct Method

Lecture 45 The Cash Flow from Operations – In Practice

Lecture 46 The Cash Flow From Investing

Lecture 47 The Cash Flow from Investing – In Practice

Lecture 48 Cash Flow from Financing

Lecture 49 The Cash Flow from Financing – In Practice

Lecture 50 It’s all in the Notes

Section 5: Ratio Analysis

Lecture 51 Introduction to Ratio Analysis

Lecture 52 What is Ratio Analysis?

Lecture 53 Categories of Ratios

Lecture 54 Liquidity Ratios

Lecture 55 Solvency Ratios

Lecture 56 Activity (Efficiency) Ratios

Lecture 57 Profitability Ratios

Lecture 58 Valuation Ratios- A look at the P/E

Lecture 59 Ratio Information Sources

Lecture 60 Goodbye and Thank You!

Section 6: FAQ’s

Lecture 61 What are Sole Propreitorships?

Lecture 62 What are Partnerships?

Anyone who are is not familiar with Accounting and wants to learn more in a quick and fun way.,Business Owners looking for a quick refresher to Basics of Financial Accounting.,Managers with limited accounting backgrounds.,Budding Investors who think reading Financial Statements and Understanding Accounts is their ‘weakest link.’

Course Information:

Udemy | English | 5h 10m | 2.76 GB
Created by: Uday Gehani

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