Name: Accounting Fundamentals
Rating: 4.86 (7517 reviews)

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Overview

Accounting Fundamentals Course Overview

Understanding the basics of accounting is a crucial skill for almost all finance professionals as it gives us insight into profitability, operations, growth, and the underlying drivers of the business. The Accounting Fundamentals course covers the importance of the financial statements and various financial statement terms. We will record transactions and prepare an multi-year income statement, balance sheet, and cashflow statement.

Accounting Fundamentals Learning Objectives

Understand the role and importance of the financial statements.
Define various financial statement terms
Explore the format of the income statement, balance sheet, and cash flow statement.
Record financial statement transactions.
Understand how transactions move through the financial statements.
Prepare simple financial statements.

Who Should Take This Free Accounting Course?

This course is designed for anyone who wants to review the fundamentals and building blocks of the accounting process. It will also be useful for professionals who work in finance and want to review the concepts required for financial modeling and valuation in CFI’s later courses.

Accounting Fundamentals

Led by Scott Powell

Get Started Enroll For Free

Level 2

Approx 5h to complete

100% online and self-paced

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What you'll learn

Lesson

Multimedia

Exams

Files

Introduction

Course Introduction

Downloadable Files

Importance of Accounting

Types of Organizations

Financial Statements

Interactive Exercise 1

The Accounting Equation

The Balance Sheet

Balancing the Balance Sheet

Downloadable File

Double Dipping Practice

Double Dipping Debrief

Recording Transactions Part 1

Recording Transactions Part 2

Adjustments and Balances

Recording Transactions Part 3

Downloadable Files

Constructing a Balance Sheet Walkthrough

Constructing a Balance Sheet Debrief

Interactive Exercise 2

Different Balance Sheet Layouts

The Cash Flow Statement

The Role of the Cashflow Statement

Profit vs. Cash

Downloadable Files

Direct vs. Indirect Method Part 1

Direct vs. Indirect Method Part 2

The Indirect Method

Changes in Working Capital

Downloadable Files

Cash Flow from Operations

Investing Activities

Cash Flow from Investing

Financing Activities

Cash Flow from Financing

Interactive Exercise 6

Downloadable Files

Construct a Cashflow Statement Walkthrough

Construct a Cashflow Statement Debrief

Course Summary

Summary

Qualified assessment

This Course is Part of the Following Programs

Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.

Financial Modeling & Valuation Analyst (FMVA)® Certification

Accounting Fundamentals is part of the Financial Modeling & Valuation Analyst (FMVA)® certification, which includes 41 courses.

Skills Learned Financial modeling and valuation, sensitivity analysis, strategy
Career Prep Investment banking and equity research, FP&A, corporate development

Learn More

Commercial Banking & Credit Analyst (CBCA)® Certification

Accounting Fundamentals is part of the Commercial Banking & Credit Analyst (CBCA)® certification, which includes 58 courses.

Skills Learned Financial Analysis, Credit Structuring, Risk Management
Career Prep Commercial Banking, Credit Analyst, Private Lending

Learn More

Financial Planning & Wealth Management (FPWM)™ Certification

Accounting Fundamentals is part of the Financial Planning & Wealth Management (FPWM)™ certification, which includes 26 courses.

Skills Learned Financial Learning, Business Development, Investment Management, Practice Management, Relationship Management
Career Prep Financial Planner, Investment Advisor, Portfolio Manager

Learn More

What our students say

Excellent
This is a amazing course from CFI and Instructor clearly explain accounting concept.

Mohammad Sahil Siddiqui

Good Best Better
It is very good platform for learning different types of Courses in this Institute.. Nothing to say anything it is very great Institute for beginner. Thank You.

KUNDAN A. THAKARE 📈

please provide the test explanation

Noor Almajed

I learnt so much more about accounting as a finance major
As a finance student from mainland China, my undergraduate school does not offer too many accounting courses and if any, they are not that practical and complex. Thanks for CFI providing me such a great chance to deepen my understanding of 3 financial statements.

Wenjing Xu

i would recommend every student to take courses on CFI rather than on any other platform.

Safeer Shahid

Fantastic
With a few hours of concentration you will learn, which took me 3 years to cover. Highly recommend this course who is interested to know the ins and out of financial statements and anyone who is pursuing an accounting profession.

Yousuf Ali

such a great learning platform
I love taking CFI courses because of the amount of knowledge the instructors pass on to you. They manage to take complex terms and calculations, and simplify them to nicely. I love this platform. Keep it up!

Nomthi Mabawula

Sound teaching on Accounting Fundamentals
Want to get the basic understanding on how to get started with Accounting fundamentals? Then you've come to the right place! This course is the best sound teaching one could ever get on Accounting fundamentals! Thank you CFI.

Oluwafunmilayo Olaoluwa

Amazing experience in this course
it's really important to take this course thus, to easily understand all the remaining finance courses.

Yousef Ghonaim

This has really empowered me to be grounded in Accounting and have given me the basis
learning with the CFI was sweet

Patrick Fassay

The best Institute and place for any student
This is the best place for any student to learn and understand, and to increase their knowledge in any desired course of their interest. This will also help students to better their skills. Thank you.

Nathaniel Gomenu

The course was really informative and helped me to understand accounting in a better way

Devipriya Murali

it was overwhelming experience to know basis
you will learn a lot from thid

Muhammad Bilal Rasheed

This is one of the best courses i have taken, thanks to the way it was being taught with.

AbdulHalim Mohamed

Excellent
The ability to read a FS is extremely important if you are an entrepreneur and/or an investor. I loved refreshing know and new important concepts.

Fabio Capponi

Easy teaching system
The learning platform is very easy, summarized and accessible any time

Samson Nsengiyumva

Mathematician Entrepreneur
Start CFI learning journey from this course. This is a super fundamental course with a great instructor.

Parian Hatami

Excellent
Easy to understand and not compromise on complex theories.

Joyce Akaba

Soft-takeoff for Understanding the Language of Business
This part is a good start for those interested in the financials and language of business to find a clear way to read and understand the financial statements and their purpose.

Mohamed Shaker

Wonderful
It's been a great journey so far

Ikenna Ezeala ACCA

Great introduction course to accounting
Lessons were clear and easy to understand. Loved he practice exercises to help improve learning.

Heather Jenna Hardern

Strat right away it is interesting

yonas getachew

Clear and Useful Course
For any rookie or new student of Accounting, this is a good start to understanding its fundamentals.

Antonio J. Guillen

A well put together course
I really enjoyed this course, it was absolutely refreshing.

Euchari Dzilankhulani

It's the first time I've found it easy to deal with the cash flow statement. I really understood it

sahar khalaf

It was awesome
Scott made me understand the course from inception till the end...

Rilwan Oladimeji Salami

Awesome experiential learnings
This is the right platform to learn strong base in Accounting

Bhuvan Aradhya D L

Worth to spent time
very simple and easiest way learning

Udayasankar kundattil

Highly educational and easy to understand
Knowing nothing about Finance, this helped tremendously when starting a my new job in consulting. It was structured so well and very easy to consume.

Rivahl-J Ramlall

Amazing
The course was great, and I learned a lot.

Kuntay Kesik

Good Experience
Clear concise learning experience.

Rahul Singh

Accountant
I recommend attending this full course, as it contains many exercises using Excel. Thanks to the lecturer for the way he explains the course

Fares AL-Mohaisin

useful course
I love this kind of free course because its to useful for me

Israel Cristo

Very clearly explained
I teach accounts to my students, and I always recommend this CFI course to my students because of how CLEAR and CONCISE this course is. This is one of the BEST fundamentals courses offered by CFI.

Bensen Alex

The course was excellent Very clear explanations
I personally think it's good the way it is. I really enjoyed doing this course, it gave me a world of knowledge and it was a fun learning experience! This was the best course I've ever done. The tutors were absolutely amazing.

Siraj Pathan

Good Refresher
Solid information on the three financial statements and how they relate to one another.

Travis Scroggins

Love the course
I would prefer this course to others also

Uday Pant

Great course
Love the fact that there were a lot of exercises and also the fact that the exercises were in Excel.

Prajesh Bhattacharya, PhD, PMP, LSS Green Belt

IT WAS A VERY EDUCATIVE COURSE

Natasha Ngupeni

WONDERFUL
The courses are very educative and the lectures do not bore you

Chinenye Mgbemere

Great for beginners
I am someone from zero finance background, this course helped me understand the basic elements of accounting statements. Thanks for this wonderful course.

Shivani Thilakaraj

The instructor is excellent and engaging

Tarek Bolbol

Impressive clarity and teaching style
As someone who's not too familiar with the Balance Sheets, Income Statements, and the Cashflow, I truly enjoyed how the instructor explained the course. He was so patient and took the time to explain the concepts step by step. It made me enjoy the topic and grasp the concepts easily. Thank you

Karolina Koubar

Good review for people who know accounting
This was a great review of the basic accounting concepts. Useful for anyone who learned accounting some time ago.

Victoria Abad Arízaga

Amazing
I really enjoyed this course. I never understood the cash flow indirect method but after the course i feel so confident about building one from scratch.

Elina Ricotso Chiluvane

Amazing
Very good introductory course

Ali Islam

Accounting professional
Honestly, CFI is the best Online Platform i have ever seen.

Mohamed Warsame Jama

Educative Course Outline
I learnt a whole lot, the practical aspects were really helpful and I am glad I took the course.

Olabisi Grace Adebisi

Excellent
Excellent Learning Program

Dr. Shantashib Samaddar (Ph.D)

more thanks
i am benefits form it

Naglaa Makram Ebeed Hanna

the instructor must be more knowledgeable to deliver the right information to the student.

Zeinab Sayed Ahmed Baghdady

Awesome
Very clear details ,explanation with practical problem and examples I wish CFI bring such more course in future help students and other learn more

Chekurisanjana

ENGAGING
Found this course very interesting, engaging and simplified.

Nnaemeka Assor

good
thanks for having this innoviate thoughts it helps to students well

B Mahesh

Solid Foundation with Accounting Fundamentals Course
The Accounting Fundamentals course brilliantly lays the foundation for understanding core concepts such as double-entry bookkeeping, financial statement preparation, and cost management, crucial for any aspiring accountant. The instructor adeptly navigates through intricate accounting principles, ensuring that learners, regardless of their prior knowledge, can grasp the essentials effectively.

Jakub Dubiński

Best way tp study
Easy to digest information and helpful exercises make this the best way to learm anything finance related

Cameron Clarke

Uplifting
I strongly recommand this course if you want to understand financial statements

Likango Lionnel

Valuable Information to Learn
Very good for all finance students and it's highly recommended

CHRISTIN JOY

Great experience I had
Encourage to take up the course.

Anthony Oketch

SUPPORTIVE
The course is so helpful and important for the work I do. I love the course, I have gained knowledge about finance and accounting that is so supportive to me and at my work place.

Mpumbya Annamaria Love

Great
It feels great for the Tutor to teach about something new in a simple way.

SUZAN NAKIRYA

Satisfied
My experience with the accounting fundamentals course was indeed a significant challenge. It pushed me to delve deeper into the intricacies of accounting, broadening my understanding and skills in this field.

Othello Calbert

Great Learning
Course was very interactive and very well explained.

Mohammad Usama

Beat Finance course
So I've had this fear of accounting for a while. In preparation for an upcoming interview that requires fundamental accounting and statement of account, I had to register for this course "Fundamental of Accounting" where we covered alot on statement of account and financial modeling. At the end of the course, I can only say one thing "Thank God for CFI". I smashed the interviews like a guru and the interviewer couldn't believe I knew nothing about financial modeling just last week. The course is A*. The instructor is amazing and the contents are top notch. Very concise short. Thank you CFI

Chima Enyeribe

It was very nice. I've learned a lot!

Edmur Nico

great course, i really enjoyed the experience

Tshepo Mofokeng

the course is perfect

Tushar Bakshi

Amazing
Instructor is easy to follow with lots of examples and exercises to practice what you have learned.

Jodi-Ann Brown

CFI an Excellent Platform
CFI is great platform to learn the Finance Domain in simply very easy way; The instructors are very engaging

Harish Ahuja

Great
Loved the examples, so realistic

Gabriel Mtamba

International course and powerful
If you have the desire to learn, you can search and keep trying. CFI is quite good at delivering its courses

Temy Kurniawan

Had quite an engaging time and it was worth it
I love how that the course was explained in such a very simple way

Peter Akinyode

It was amazing
I really enjoyed. It was really knowledgeable.

Kumail Hasan

Exciting and intersting course
One of the best accounting courses that I have ever experienced!

Ramy Mohamad

Tremendous Learning
This was a great course that took the time to walk you through the materials, provide both simple then more complex examples so you can work through the learning process.

Robert Biffle

This course got some useful information, it can be very much useful to people who are studying accounting and business.

Lebogang Buhle Faith Ntema

happy learning
one of the best platform to learn about the course and get certified.

Vaishnavi R

that is more knowledgeable and easy learning site
that is highly recommend for students studying because of its easy to learn and simply told matters.

rmkd rathnayaka

Am impressed with tutorials.

abdul majeed amadu

Better cheaper faster
worthy to dedicate your time! very friendly, not borring, professional, and accredited!!!

Tumim Wolde

Proud and excited
I am really proud and excited to have achieved my first milestone with CFI. I am looking forward to going for other milestones in the near future!

Shakeel Ahmad

SIMPLISTIC
Somome like myself, Haven completed my ACCA part 1 in 2009 and attempted several ACCA part 2 papers. I still had no clear understanding about what items were to be added or subtracted from Retained Earnings. Via this course I finally succeeded in not only memorising the items but understanding the core rational behind why we subtract or add any item on not only the RE part of SOCI but how all others aspects/ items of assets, liabilities & equity affe t tye various forms of financial statements. Much Thanks 🙏

Kingsly Ako Enoh

It was an interesting experience
The course really exceeded my expectations. The instructor was well educated and interactive. I really enjoyed learning about the basics of accounting. The video solutions for the assignments were also well-covered and thoroughly explained.

Mohit Sharma

Highly interactive course
I'm delighted with the 'Accounting Fundamentals' course! It's not only great but also highly interactive. The way it blends key concepts with hands-on activities makes learning engaging and effective. Thank you!

Rizza Mae R. Lagat

it was easy to understand
the tuitor explained the videos in a way that even a beginner can easily understand the course

faith mbidzo

LOvE it
Free course with immense knowledge !!

Momin Ahmed

Covering the bases
Filling all the gaps in my knowledge on accounting

Leonardo Gryner

Cashflow statement
The clear explanation of cashflow statement is second to none. It gave me more insight into cashflow statement

Wisdom Ihejirikah

A great start
Just started with the course and finished the 1st fundamental course. It was a good course. The information was put across really well and the interactive sessions and exercises are well planned.

Meenal Agarwal

Acquired the skills of Accounting Fundamentals
Greatly horned to have acquired the accounting fundamentals skills offered by CFI. It's been a great experience leaning how businesses operate financially.

Haninga Muchelemba

Information and interesting
It was a very good experience

Prince Kumar

STEP TO SUCCESS
i would like to encourage students to pursue this course

Nalule Lunkuse Josephine

it was a nice experience which make me more focus and eager to learn more
i never expect these marks but iam glad i made it and i want to do more

Matsosane Khoanyane

Simple and Practical
Unlike several other courses i have taken and read to pass, this is so practical that the knowledge sticks

Oluwadamilola Adeife

Good experience
Detailed explanation videos

winfred tan

Perfect for people new to accounting
Very clear, good pace, lots of chances to go over information on your own.

Gina Swaim

excellent
the learning is really amazing

Mwendwa Kyalo Festus

Its good for learning platform especialy there are some free courses that you can take.

Mala Nurmalasari

Great Course
i truly enjoyed the course. I like the way the tutor explain all the concepts

godfrey manjini

Great Course
i truly enjoyed the course. I like the way the tutor explain all the concepts

godfrey manjini

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Can I download the Excel files and financial modeling templates for the course?

Absolutely! All the files and templates needed in a course are available for download. Just look for a module that shows Downloadable Files within the course dashboard. See here for a visual guide on how to do this.

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You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines. Click here to compare our available enrollment options.

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Yes, CFI is accredited by the Better Business Bureau® (BBB) to maintain training standards, the CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the USA. Most of our courses qualify for verified CPE credits for CPA charter holders. Please refer to this page to view all available CPE credits.

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Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 80% passing grade. For more information on how to earn a course certificate, click HERE.

How are the exams conducted?

Students are required to complete an online assessment (Multiple choice questions, Fill-in-the-Blanks, and Excel Questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 80% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need. Students are also required to complete the FMVA® final exam to earn their certification. How to Take a Qualified Assessment

Can I email the instructor if I have questions?

While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries. The Full Immersion bundles include a premium email support function that allows you to communicate directly with in-house experts regarding course content. This is one of the key features that sets the Full Immersion bundle apart and makes it a worthwhile upgrade over the more affordable self-study bundle. You can compare more features in our bundles here.

Will these courses help me advance my career?

Based on hundreds of reviews from thousands of students we know how CFI courses have helped so many people advance their finance careers. Our courses are designed to be extremely practical and simulate the experience of being trained as a professional financial analyst…the ultimate way to advance your career. For real-world examples and to help delve even deeper into the course concepts, please look into our free career resources library.