Trial Balance to Financial Reporting
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Trial Balance to Financial Reporting
This course is part of Accounting Basics: ACCA/CIMA/CMA/CA/AAT/Cambridge/Edexcel Specialization
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What you'll learn
Understand the complete process of preparing and correcting trial balances.
Learn to perform bank and supplier reconciliations effectively.
Gain expertise in preparing financial statements for different business structures.
Master adjustments and the preparation of cash flow statements, applying international accounting standards.
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May 2026
5 assignments
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There are 3 modules in this course
This course features Coursera Coach! A smarter way to learn with interactive, real-time conversations that help you test your knowledge, challenge assumptions, and deepen your understanding as you progress through the course.
This course will help you gain a deep understanding of the accounting processes, from reconciliations to the preparation of comprehensive financial reports. Youβll learn essential techniques for bank and supplier reconciliations, as well as the critical corrections for accounting errors. Through these skills, you'll also master the process of financial statement preparation, including adjustments and the completion of cash flow statements, among other advanced reporting concepts. The course is structured to first guide you through reconciliation processes, followed by the preparation and correction of trial balances, and ultimately, the detailed crafting of financial reports. Along the way, you will also learn how to apply international accounting standards like IAS 10 and IFRS 15 and explore more advanced concepts like the statement of cash flows. This course is designed for professionals and students who wish to build or enhance their knowledge of financial reporting. No prior accounting experience is required, making it ideal for beginners or those looking to further their career in finance and accounting. By the end of the course, you will be able to prepare trial balances, correct accounting errors, apply necessary adjustments, and create comprehensive financial statements, including cash flow statements.
In this module, we will explore the process of performing reconciliations in accounting. We will cover how to prepare bank reconciliation statements and supplier reconciliations. Additionally, we will summarize key reconciliation concepts and techniques, helping you understand the importance of maintaining accurate financial records.
What's included
3 videos2 readings1 assignment
3 videosβ’Total 84 minutes
- Bank Reconciliationβ’73 minutes
- Supplier Reconciliationβ’10 minutes
- Bank & Supplier Rec Summaryβ’2 minutes
2 readingsβ’Total 20 minutes
- Introduction to the course 'Trial Balance to Financial Reporting'β’10 minutes
- Full Course Resourcesβ’10 minutes
1 assignmentβ’Total 15 minutes
- Reconciliations - Assessmentβ’15 minutes
In this module, we will dive into the preparation of the trial balance and its significance in financial reporting. We will also cover various types of accounting errors and demonstrate how to correct them using journal entries. Furthermore, we will explore how to address errors impacting profit calculations, ensuring the accuracy of your financial records.
What's included
5 videos1 assignment
5 videosβ’Total 110 minutes
- Trial Balanceβ’15 minutes
- Correction of Errors 1β’43 minutes
- Correction of Errors 2β’27 minutes
- Correction of Errors 3β’11 minutes
- Correction of Errors 4β’13 minutes
1 assignmentβ’Total 15 minutes
- Trial Balance & Correction of Errors - Assessmentβ’15 minutes
In this module, we will focus on advanced reporting techniques and the preparation of financial statements. We will walk through the process of applying final adjustments to financial data and preparing sole trader financial statements. Additionally, we will explore international accounting standards, including IAS 10 and IFRS 15, to enhance your understanding of advanced financial reporting.
What's included
15 videos1 reading3 assignments
15 videosβ’Total 478 minutes
- Adjustmentsβ’38 minutes
- Sole Trader Financial Statements 1β’38 minutes
- Sole Trader Financial Statements 2β’29 minutes
- Sole Trader Financial Statements 3β’44 minutes
- Sole Trader Accounting Equationβ’18 minutes
- Financial Statements Basics 1β’41 minutes
- Financial Statements Basics 2β’23 minutes
- IAS 10 Events After Reporting Periodβ’46 minutes
- IFRS 15 Revenue from Contract with Customersβ’31 minutes
- Incomplete Recordsβ’41 minutes
- Statement of Cash Flows 1β’28 minutes
- Statement of Cash Flows 2β’51 minutes
- Statement of Cash Flows 3β’21 minutes
- Statement of Cash Flows 4β’22 minutes
- Statement of Cash Flows 5β’7 minutes
1 readingβ’Total 10 minutes
- Conclusion to the Course 'Trial Balance to Financial Reporting'β’10 minutes
3 assignmentsβ’Total 90 minutes
- Financial Statements & Advanced Reporting - Assessmentβ’15 minutes
- Full Course Assessmentβ’60 minutes
- Full Course Practice Assessmentβ’15 minutes
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Frequently asked questions
Trial Balance to Financial Reporting is a course designed to teach learners the complete process of transitioning from trial balance to preparing detailed financial reports. Itβs essential for those in accounting and finance because understanding this process is fundamental for preparing accurate and reliable financial statements, which are vital for decision-making and compliance.
This course covers key accounting processes such as reconciliations, trial balance preparation, correction of errors, and the preparation of financial statements. It walks through the concepts of bank and supplier reconciliation, adjustments, the preparation of sole trader financial statements, and an introduction to advanced reporting like cash flows and revenue recognition under IFRS.
Upon completing this course, you will be able to prepare and adjust trial balances, perform reconciliations, correct accounting errors, and prepare complete financial statements, including cash flow statements and reports under IFRS and IAS standards. You will have a solid understanding of the full accounting cycle, preparing you to handle real-world financial reporting tasks.
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