Introduction to Financial Accounting

Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more The course is designed for those who have already completed an introductory course in financial accounting and need to refresh their understanding. It will suit those looking to take an intermediate or advanced financial accounting course in the future, dealing with business groups, M&A, and consolidation. Junior professionals (e.g. Chartered Accountants and Certified Financial Accountants) can also familiarise with recent changes in International Financial Reporting Standards.

Topics Covered

• The accounting cycle: translating companies’ operations and decisions into numbers;
• Understanding accounting as the language of business: users of accounting information and its different purposes;
• The role of accounting equation in ensuring recording integrity and keeping track of the transactions;
• The role of accruals in making sense of financial accounting information;
• The package of Financial Statements: balance sheet, income statement and cash flow statement;
• Debunking myths about accounting as a fact: the role of valuation, assumptions and forecasts;
• Reading and interpreting financial statements with a ‘sceptical’ eye.