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What is financial accounting?
Financial accounting is the practice of recording, analyzing, and reporting financial transactions for an organization, business, household, or other establishment with regular expenditures. Those records can provide valuable insight into general operations, money management, and financial health of the entity. They can then translate into improved efficiency, increased savings, or stronger financial health. They can also be used to detect fraud or improper management of money and resources. Financial accounting involves more than just numbers and spreadsheets; professionals in this field need strong organizational, analytical, and communication skills to mitigate risks and leverage opportunities.
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Financial accounting course curriculum
Many accounting positions require a degree, but professionals can pursue more specialized learning with online courses and professional certificate programs. Learners can choose to study topics such as financial accounting for corporations, public financial management, or accounting and information technology. Certifications courses from globally recognized accounting bodies like the Association of Chartered Certified Accountants (ACCA) may be best suited for mid-career professionals looking to add to their existing credentials and develop an understanding of international financial reporting standards and strategic decision-making.
Study the foundations of finance and accounting with online financial accounting courses delivered through edX. Individuals exploring financial accounting as a career or interested in personal accounting can take courses that cover the basic principles of accounting, including reviewing cash flow statements and tax regulation. Online courses vary in length so learners can choose which option works best for them. Online learning also provides the convenience of gaining knowledge and skills right from home.
Careers in financial accounting
From handling long-term liabilities to cataloging business transactions to collaborating with financial managers and other finance professionals, accountants provide valuable insights to companies and organizations. Accountants work in small businesses, banks, consulting firms, nonprofits, government agencies, and many other organizations. They may collaborate closely with human resources departments, and work across companies to ensure that financial transactions are appropriately captured and reported. Let edX help you develop your financial accounting skills with online courses that can help you achieve your personal and professional goals.
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