Accounting and Financial Systems



A basic understanding of accounting is necessary for success in many positions. In this course, you'll receive a broad overview of the concepts central to GAAP accounting. You'll learn about the difference between cash basis and accrual basis accounting and how to read the most common types of financial statements. Finally, you'll learn the importance of financial ratios and how to apply them.

Virtual short courses do not include materials or headsets.


  • All professionals

Learning Objectives

  • The difference between publicly traded and privately held companies
  • The importance of consistency in accounting
  • The assumptions, principles, and constraints that govern GAAP accounting
  • How to read balance sheets, income statements, and statements of cash flow
  • How to use four common financial ratios to evaluate performance over time

1. Introduction

  • Accounting
  • Financial Accounting
  • The Importance of Understanding Accounting Basics

2. Assumptions, Principles, and Constraints

  • Generally Accepted Accounting Principles (GAAP)
  • Publically Traded vs. Privately Held Companies
  • Cash Basis vs. Accrual Basis Accounting
  • Importance of Consistency
  • Four Accounting Assumptions
  • Four Accounting Principles
  • Four Accounting Constraints

3. Financial Statements

  • Basic Financial Statements
  • Role of Financial Statements
  • Balance Sheets
  • Income Statements
  • Statements of Cash Flow

4. Financial Ratios

  • Importance of Financial Ratios
  • Liquidity Ratios
  • Capitalization Ratios
  • Operational Ratios
  • Profitability Ratios