All finance lessons

Accounting and the Three Statements

Post transactions, read the statements and reconcile ending cash and equity.

Lessons in order

Build each skill in sequence, or jump to a topic you need to review.

  1. Build a balance sheetFoundation · Ready to start
  2. Post journals and a trial balanceFoundation · Ready to start
  3. Earned, billed and collectedIntermediate · Ready to start
  4. Build an income statementFoundation · Ready to start
  5. Reconcile inventory and cost of salesFoundation · Ready to start
  6. Separate depreciation and capexFoundation · Ready to start
  7. Link the three financial statementsFoundation · Ready to start

Capstone case

Use the numbers to defend a decision in two steps.

Close a manufacturer’s books