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Introduction

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Welcome to this course and it will teach you the fundamental concepts of accounting which are the language of how businesses operate. You will be welcomed by Justin Lake from Think Numbers Group who is an experienced accountant and practitioner with 15+ years experience in this field. In this lesson, we will give an overview of the course so you can understand what is involved. The course is primarily targeting students, business owners, and professionals who would benefit from learning accounting concepts and want things explained in simple terms so you gain valuable knowledge quickly.

The course covers concepts that are taught in the majority of universities around the world and your teacher, Justin Lake, certainly has the experience in practice and in teaching accounting that you will find his style professional, engaging and clear in his teaching style.

Let's get started to learn accounting and nail the skills once and for all.

Transcript

Hello, and welcome to the ultimate accounting refresher course and I'm very excited for you to join me on this journey to accounting and financial skills. My name is Justin light from fake numbers. And in this course we'll be talking about accounting and finance. accounting is truly the language of business. And without a solid understanding of your numbers, you might as well not bother getting into studying or managing a business. Having a solid understanding of how accounting works will ensure that you understand the core concepts, various stakeholders the needs, and how to present information that has credibility and reliability, so that you can continue to run a profitable and successful business.

This course is designed for three people in mind, your student and currently taking an accounting course. You aren't quite understanding the concepts and need further explanation. You possibly have an exam coming up soon or an assault And when a quick refresher so that you're well prepared. You're a business owner, and haven't had any training in accounting before and could benefit by having a better understanding of the terminology and how accounting works in a practical sense, and things that you could immediately put into practice in your own business. Or your a well into your career and finding that by not having a solid financial management skills. This is an area that is holding you back in your progression.

You may or may not have studied accounting in the past, but you're in need of a course that will help you explain these concepts clearly and simply from an experienced practitioner. So throughout this course, what we'll be talking about is we'll be start off by looking at in section one of the key accounting concepts and this will lay the foundation about all of accounting and the way that accountants think, and all of the core principles behind it. Well then we go into a lot of detail around double entry accounting, and looking at things like the accounting equation, and a really simplified method of how to understand the debit and credit side of transactions. Looking at all the various different categories, and it's showing two examples, and really simplifying this down into really simple terms of all the standard kind of transactions that can occur within any type of business.

Or we're also looking at things like retained earnings in general journals in Section three, or we're looking at the practical application through a case study. And we were looking at things like the worksheet method to actually prepare financial transactions. Also be looking at the general journal method and takeouts in a very practical example. So you can actually put your skills into practice. Lots of you looking at section four and preparing a trial balance, which will actually then put all of the closing balances into a summarize format that you can use as the basis of preparing your financial statements. In Section five, we'll be going over adjusting and closing entries.

And in Section six, we'll be looking at the various different financial statements such as the balance sheet, profit loss, and statement of cash flows. And finally, in Section seven, we'll be looking at some interpretation and ratios and a simple way in which you can actually use analyze a business to actually determine the health of how the business is performing. I've personally been practicing accounting and finance for the past 15 years across multiple roles and industries within Australia and abroad. I've also been shooting students for a number of years and business owners on one on one within accounting. accounting is a great career path and take you in so many different directions open a lot of interesting opportunities for your career and within your business, and can make you significantly more effective with the business. It is my sincere hope that you get as much out of this course that I've put into creating it, and that you're armed with the skills you can influence and make much better objective decisions in business.

I welcome you on this journey. And I promise to make things easy, clear and interesting for you when it comes to accounting. Let's know what any longer it's time to enter the accounting world and learn some seriously valuable skills that you can take with you throughout your business life. Let's get started.

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