Formal Financial Accounting

This course builds upon what you learned in Financial Accounting: Foundations and Financial Accounting: Advanced Topics and introduces you to formal foundations of financial accounting. The main purpose of the course is to familiarize you with technical terms in financial accounting, such as debit, credit and T-account. While knowledge on technical aspects of financial accounting is not necessary to understand and interpret financial statements, this knowledge is critical to be able to understan

• Understand technical aspects of financial accounting.
• Have a command of knowledge on formal terminology of financial accounting.
• Record financial information in accounting language using T-accounts.
• Construct main financial statements from T-accounts.