Accounting Foundations – Felix

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Accounting Foundations

Understand the fundamental elements of accounting with this introduction covering simple explanations of the key financial statements, terminology and principles.

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23 Lessons (73m)

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1. What is Accounting

03:21
2. Who Uses Financial Statements - Part 1

03:28
3. Who Uses Financial Statements - Part 2

03:32
4. What are the Three Main Financial Statements

04:01
5. What Else is in Financial Reports - Annual Report

03:29
6. What Else is in Financial Reports - Press Release

01:06
7. What Else is in Financial Reports - Other Statements

02:02
8. What Are Accounting Standards

03:42
9. How Often Are Financial Statements Prepared

02:22
10. Annual Report Example

05:14
11. The Accounting Equation

04:43
12. The Balance Sheet - Assets

02:45
13. The Balance Sheet - Liabilities

02:09
14. The Balance Sheet - Equity

01:37
15. Balance Sheet Example

05:32
16. The Income Statement

04:39
17. Income Statement Example

03:49
18. The Cash Flow Statement

02:41
19. Cash Flow Statement Example

02:54
20. Accrual Accounting

04:46
21. The Matching Principle

01:21
22. Capitalization

03:08
23. Accounting Foundations Tryout

Next: Financial Accounting Review

Who Uses Financial Statements - Part 1

Notes
Questions

03:28

Overview of the different users of financial statements and the type of information they would be interested in.

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customers External Users Investors Lenders Suppliers

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What is CPE?

CPE stands for Continuing Professional Education, by completing learning activities you earn CPE credits to retain your professional credentials. CPE is required for Certified Public Accountants (CPAs). Financial Edge Training is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.

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For self study programs, 1 CPE credit is awarded for every 50 minutes of elearning content, this includes videos, workouts, tryouts, and exams.

CPE Exams

You must complete the CPE exam within 1 year of accessing a related playlist or course to earn CPE credits. To see how long you have left to complete a CPE exam, hover over the locked CPE credits button.

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CPE exams do not count towards your FE certification. You do not need to complete the CPE exam if you are not collecting CPE credits, but you might find it useful for your own revision.

Further Help

Felix How to Guide walks you through the key functions and tools of the learning platform.
Playlists & Tryouts: Playlists are a collection of videos that teach you a specific skill and are tested with a tryout at the end. A tryout is a quiz that tests your knowledge and understanding of what you have just learned.
Exam: If you are collecting CPE points you must pass the relevant CPE exam within 1 year to receive credits.
Glossary: A glossary can be found below each video and provides definitions and explanations for terms and concepts. They are organized alphabetically to make it easy for you to find the term you need.
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Questions: If you have questions about the course content, you will find a section called Ask a Question underneath each video where you can submit questions to our expert instructor team.