Accounting Made Simple: Understanding Financial Statements and Ratios (Flex)
In this 4 week flex course, learners will learn basic accounting concepts, main financial statements and key accounting ratios.
Melissa Bissoondath
Average rating:
4.8
Number of reviews:(100)
What's included
Homework
1-2 hours per week. After reviewing the teacher's video and other related You Tube videos assigned at the start of the week, a short, fun quiz will be given each week testing the material for that specific week. Additionally , students will be asked to post on the classroom page at least 3 things that stood out for them in each video. Furthermore, students will complete each of the following assignments/mini projects individually:- Week 1 - The Basic Accounting Equation Students will learn about the elements of a balance sheet, that is, assets, liabilities and equity/net worth and be able to classify items into various categories. Assignment will be given to test students' understanding of the concepts and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers. Week 2 - Understanding Financial Statements: The Balance Sheet Students will be introduced to the balance sheet template and practise preparing a balance sheet using practical examples. Assignment will be given to students to prepare a balance sheet and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers. Week 3 - Understanding Financial Statements: The Income Statement Students will learn about the elements of an income statement and be able to classify items into income and various categories of expenses. Students will practise preparing an income statement using a practical example. Assignment will be given to students to prepare a income statement and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers. Week 4 - Financial Ratios Students will learn about key financial ratios, what they mean and how to calculate them. Assignment will be given to students to calculate key financial ratios and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers.Class Experience
In this four week flex course, students will learn basic accounting concepts, main financial statements and key accounting ratios. Teacher will upload self made videos at the start of each week which would include presentations using Google Slides. Short YouTube videos will be embedded in some presentations to reinforce concepts taught. A short, fun quiz will be given each week testing the material for that specific week. Apart from videos and quizzes each week to foster interaction and engagement with the students, students will be asked to post on the classroom page at least 3 things that stood out for them in each video. Additionally, they will be given mini-projects/assignments each week and will have to post their own videos explaining their answers to the various assignments/mini projects. Students will also be given the opportunity to interact with one another by giving at least one other student feedback on his/her submitted video for the assignment/mini project on the classroom page. Week 1 - The Basic Accounting Equation Students will learn about the elements of a balance sheet, that is, assets, liabilities and equity/net worth and be able to classify items into various categories. Assignment will be given to test students' understanding of the concepts and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers. Week 2 - Understanding Financial Statements: The Balance Sheet Students will be introduced to the balance sheet template and practise preparing a balance sheet using practical examples. Assignment will be given to students to prepare a balance sheet and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers. Week 3 - Understanding Financial Statements: The Income Statement Students will learn about the elements of an income statement and be able to classify items into income and various categories of expenses. Students will practise preparing an income statement using a practical example. Assignment will be given to students to prepare a income statement and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers. Week 4 - Financial Ratios Students will learn about key financial ratios, what they mean and how to calculate them. Assignment will be given to students to calculate key financial ratios and students will make a brief video recording explaining their answers. This video will be shared on the classroom page for feedback from teacher and peers.
Learning Goals
Students will:-
1. Learn about the elements of a balance sheet and an income statement;
2. Be able to classify items into various categories: assets and liabilites, income and expenses;
3. Practise preparing a balance sheet and income statement using practical examples;
4. Learn about key financial ratios, what they mean and how to calculate them.
Other Details
External Resources
In addition to the Outschool classroom, this class uses:
Joined April, 2020
4.8
100reviews
Teacher expertise and credentials
Hello. My name is Miss Melissa. I teach Idea Generation classes to spur creative thinking, Business Entrepreneurship, Math, Accounting and English. I have 7 years of teaching experience, having worked as a University Lecturer teaching Business Entrepreneurship and Statistics, as well as, a Business Workshop Facilitator and coach, teaching Accounting, Market Research and Business Pitch to persons interested in starting up businesses. I have mentored hundreds of persons of varying ages in transforming innovative ideas into reality.
My classes have always been highly interactive, engaging and super fun. I incorporate interesting exercises and games to test materials taught as I believe this is the best way for students to remember and apply what they have learnt. My classroom is a safe place for students to make mistakes as this is all part of the learning process.
When I am not teaching, I enjoy travelling to new countries, listening to music and outdoor activities. I am a huge fan of roller coaster and thrill rides. I cannot wait to meet you in my class.
Reviews
Live Group Class
$8
weekly4 weeks
Completed by 13 learners
No live video meetings
Ages: 13-18
