Welcome to the Walipilla.lk. This course is intended to give you an opportunity to explore the content, design, and interface of our self-paced online and offline courses. Each module contains one lesson drawn from our inventory of self-paced courses. Browse the lessons to see examples of instructor- and computer-graded assignments, instructor commentaries, practice exercises, and audio and video content.
A simple definition of “accounting”
Accounting is how your business records, organizes, and understands its financial information.
You can think of accounting as a big machine that you put raw financial information into—records of all your business transactions, taxes, projections, etc.—that then spits out an easy to understand story about the financial state of your business.
Accounting tells you whether or not you’re making a profit, what your cash flow is, what the current value of your company’s assets and liabilities is, and which parts of your business are actually making money.
Financial statements are reports that summarize how your business is doing, financially.
There are three main types of financial statements: the balance sheet, income statement, and cash flow statement. Together, they tell you where your business’s money is, and how it got there.
Let’s say you’re a freelance surfing instructor who bills clients for surfing lessons. Financial statements can tell you what your most profitable months are, how much money you’ve spent on supplies, and what the total value of your business is.
Financial statements can be generated fairly easily using accounting software, or you can have a bookkeeper do it for you.
- Lectures 1
- Quizzes 0
- Duration 50 hours
- Language English
- Students 25
- Assessments Yes