Join Jim Stice for an in-depth discussion in this video How you can use financial statements, part of Financial Accounting Foundations.
- You now know about financial statements, … the accounting process, … important financial accounting topics … such as revenue recognition and leases, … and financial ratio analysis. … - But here are some cautions. … First, financial statement analysis can't do anything … if the underlying financial statement data are not reliable. … If you're doing an important analysis, … make sure that the data come from a reliable source. … If the data come from a person you can trust, good. … - If you're not sure about the source, … it's a good idea to have the numbers checked … by an outside party, an auditor. … - For example, a friend of mine asked me … to help him analyze the financial accounting numbers … for a business he was thinking of buying. … It didn't take me long to realize … that the financial numbers for this family business … were hopelessly mixed in with personal family expenses, … such as groceries, gas, utilities, and so forth. … It was impossible to figure out how much money … this business was actually generating. …
- Accounting basics
- Reviewing the balance sheet and income statement
- Credits, debits, and journal entries
- Making financial statements
- Issues in financial accounting
- Revenue recognition
- Deferring taxes
- Analyzing financial statements
Skill Level Beginner
Accounting Foundations: Internal Controlswith Kay Stice1h 46m Intermediate
Cost Accounting: Analyzing Product Profitabilitywith Rudolph Rosenberg56m 49s Intermediate
Why financial accounting?1m 13s
1. Accounting Basics
The accounting equation3m 37s
2. The Financial Statement
3. The Mechanics of Accounting
4. Current Issues in Financial Accounting
5. Financial Statement Analysis
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