Learn key skills and concepts for financial accounting in this beginner-friendly course, from the basics of accounting statements to complex topics like investments and securities.
Learn how to analyze financial statements and reports, including income statements, balance sheets, and cash flow statements, and understand essential financial accounting principles and metrics. This course offers hands-on exercises using real-life examples from well-known companies like Facebook, Amazon, and Apple to demonstrate practical application.
Build your knowledge of investments, securities, debt accounting, and other complex financial accounting concepts in this class.
Accounting is the practice of collecting, recording, analyzing, summarizing, and reporting on an organization’s financial transactions. Once accountants gather this information, they present their findings to entities like oversight agencies, regulators, or tax collectors. Accounting is currently a popular field across the US since organizations of all sizes and types, from small startups to multi-billion-dollar corporations, rely on financial professionals to handle daily tasks. Large companies may require an entire finance department to keep track of their employees’ and customers’ financial information, whereas small organizations may only need a freelance or in-house Accountant or Bookkeeper to perform these tasks. Not only is accounting currently an in-demand field, but it has been around for thousands of years. The history of accounting can be traced back to Babylon, Egypt, Mesopotamia, and other ancient civilizations. The Roman Empire used a form of accounting to maintain records of its financial transactions. Today in the US, accounting is a broad field that comprises many sub-fields such as financial accounting, cost accounting, bookkeeping, tax accounting, and managerial accounting.
Accountants are hired to create financial statements that offer a snapshot of how a company is currently operating, as well as its cash flows, current debts, and overall financial status. Additionally, accountants play an important role in helping companies grow. The insights they provide not only shed light on how the company operated in the past and is currently doing, but their reports are essential in helping to make forecasts that can influence the organization’s future financial decisions. Organizations turn to accountants to help them decide which products are selling best and which can be discontinued, as well as how much profit different departments are generating and their overhead costs. Accountants help investors determine if they are making sound or risky investments. Lending institutions like banks use accountants to create financial statements as part of the underwriting process when applying for loans. Finance professionals assist companies with keeping track of when payments are received, as well as monies owed to other entities.
Once you decide to study accounting in Los Angeles, you may wonder if there are any skills you should learn as a prerequisite. Since each educational provider has their own specifications about the skills students should possess before enrolling in a course, it’s important to check with them to ensure you are prepared to enter the program. However, there are some core skills you can expect to encounter, regardless of the class you select, which you can study in preparation. A great place to start when learning accounting is to review basic terminology, as well as the most common types of documents you will work with as an Accountant. Familiarity with key documents such as financial statements, balance sheets, income statements, and cash flow statements can make it easier to work with these documents once you are enrolled in a class. Additionally, brushing up on the latest accounting trends, including how blockchain and cloud computing are affecting this field, will help ensure your knowledge is current when you start your studies.
You may also benefit from studying related fields such as mathematics, finance, management, economics, or computer science before beginning coursework. Even though not all programs will expect students to know accounting software as a prerequisite to study, it can be helpful to learn the basics of Microsoft Excel, Google Workspace, and AI or financial modeling software like Oracle BI or IBM Cognos. You may also want to reinforce soft skills like critical thinking, problem-solving, effective communication, time management, and attention to detail as well before embarking on accounting coursework.
If you’re considering learning accounting, you may have heard that accounting is a difficult skill set to acquire or that you have to be a skilled mathematician to excel in accounting. Like any other skill, the difficulty of acquiring accounting knowledge varies from person to person. Learners who come from a math-heavy background or have advanced Excel training may find the learning process easier than those new to spreadsheets or without a strong math background. Studying accounting can be a very rewarding process that leads to a variety of high-paying career options in Los Angeles across industries. Those who are willing to devote their time and efforts toward studying accounting are generally able to learn the basics of this in-demand field by completing several years of coursework.
The learning process involves both hard and soft skills. Before you can progress into advanced Excel spreadsheet functions and master bookkeeping software, you first must spend some time learning the basics such as the terminology used in this field and the basics of the accounting process. You’ll need to become familiar with basic skills accountants perform on a daily basis such as filing taxes and organizing and preparing financial documents. While some learners opt to receive this training from a four-year college or university, others may prefer to learn accounting through bootcamp study or certificate programs. These programs provide a condensed and highly focused way for learners to spend several weeks or months fully invested in learning accounting. These programs skip general education and supplementary coursework. Instead, students can hone in on one or more accounting skills such as financial modeling or Excel spreadsheet training, which will be essential for their career. Those studying accounting may also opt to select an area of specialization when approaching their accounting studies such as financial accounting or forensic accounting, which can streamline the learning process. While it may take years to acquire advanced accounting knowledge and practices, if you’re willing to fully immerse in your studies, you will begin to see the results from your efforts right away.
Once you enroll in an accounting course in Los Angeles, you may not be certain what to expect from the course. Because each educational provider is different, the content they cover in a program varies, depending on the course focus, its length, and its level of difficulty. Some certificate programs provide learners with months of intensive training that covers accounting or finance in a broad sense, beginning with the basics before progressing into more advanced content. Other programs focus exclusively for several weeks at a time on one tool or skill you will need to succeed as an Accountant such as financial modeling, QuickBooks, or Excel. Introductory-level accounting classes usually start by presenting learners with a comprehensive overview of the key terms and principles in accounting. Once these basics have been covered, learners typically have a chance to apply this information to real-world projects such as working with a real company’s financial statements. Most courses also teach students core skills that are used in most types of accounting such as how to work with cash flow statements, balance sheets, income statements, and accrual accounting. Coursework with a more advanced focus may also provide participants with the opportunity to study high-level mathematics concepts, advanced Excel functions, computer science, or financial modeling.
Accounting is an umbrella field that has many sub-fields and specializations. Organizations of all types and sizes rely on accountants to help them keep track of financial transactions. In Los Angeles, those with accounting skills have a range of career opportunities. The city is perhaps best known for its entertainment scene. Los Angeles County enjoys a reputation for being the worldwide home of entertainment of all kinds, from movies to TV to music. Creative professionals like filmmakers, actors, musicians, and writers flock to LA to work at one of the city’s many studios, including Paramount, Warner Brothers, Sony, Disney, or Fox. In 2021, more than 13,000 entertainment establishments in the city created 367,000 jobs in the county and 1.1 million jobs in the state. Within the entertainment industry, accountants play several key roles. Film production companies turn to accountants to help them manage various film-related expenses that are part of the production process such as paying the actors and crew their salaries, renting equipment, and satisfying location fees. Entertainment accountants with a background in bookkeeping are often hired to help ensure the accuracy of financial record-keeping and manage expenses.
Aerospace is another prominent industry in Los Angeles. Aerospace magnates like Lockheed, Virgin, Galactic, Boeing, and SpaceX are located in LA. The city draws from its talented pool of Aerospace Engineers to fill empty positions and drive new innovations. NASA’s research center is also located in Palmdale, which contributes to ongoing research initiatives. Currently, more than 10,000 Aerospace Engineers work in California, making it the most popular location in the country to pursue an aerospace-related career. Accountants are also in-demand in the Los Angeles aerospace industry. They perform cost accounting tasks such as cost-volume-profit analysis. This tool can provide insights into how costs, sales volume, and overall profit are related to one another for any aerospace-related project or product.
Accounting-related careers are available across industries in Los Angeles. If you have a background in bookkeeping or accounting, you can pursue a career at virtually any organization in which financial records are kept, from small startups to large corporations. Career paths in accounting fields, as well as those completely unrelated to accounting, are available for Los Angeles residents who know how to balance budgets, perform audits, create financial forecasts, and file taxes. If you have advanced accounting training or have passed the Certified Public Accountant exam or the Certified Management Accountant test, employment with competitive pay rates is currently available in many industries, departments, and niches.
Because of the important role financial professionals play in the overall well-being of their organization, careers in this field are in-demand and often offer high pay rates, depending on industry and career focus, as well as experience. Additionally, since the cost of living is also high in LA, pay rates in this area tend to be higher than the national average and the salaries available in many other cities. Los Angeles-based bookkeepers earn around $51,000 a year. Accountants in this area can expect to make about $71,000 annually. Forensic accountants in the city study an organization’s or an individual’s internal and external financial activity. They make about $102,000 a year in LA. On the higher end of the Los Angeles payscale for financial professionals are auditors, who earn about $174,000 annually. Auditors perform tasks like ensuring your organization complies with established reporting requirements and has safeguarded its assets.
If you live in Los Angeles and are looking to pursue an accounting career, a great first step is learning accounting basics. Coursework is currently available from many top local providers for those who are new to accounting, intermediate-level learners, and those who have already studied this in-demand field and want to take their skills further. You can search for accounting classes in Los Angeles that fit your scheduling needs. The following paragraphs will offer a brief overview of several popular local accounting courses and their requirements.
Bookkeeping/Accounting Analysis & Concepts is offered by Los Angeles City College for those interested in the basic skills needed to operate a business. Students explore methods for accounting, recordkeeping, reporting, and analysis. Hands-on instruction is provided on various business transactions and timely reporting techniques such as financial analysis and working with ratios and graphs. Course content includes how to create a chart of accounts, process business transactions, prepare balance sheets, cash flow statements, and profit & loss statements, as well as how to file a Schedule C. This one-day class costs $149. Instruction is provided in Hollywood. QuickBooks Fundamentals is also available from Los Angeles City College. This course focuses exclusively on QuickBooks, an essential tool used by financial professionals to manage the finances of their business. Coursework covers QuickBooks basics such as navigating the software, establishing a company name, paying bills, tracking and paying sales tasks, and reconciling bank accounts. Tuition is $149 for this one-day course. Live instruction is provided in Hollywood. It takes eight hours to finish this class.
Santa Monica College’s Investment Boot Camp is intended for both seasoned investors as well as those who are new to working with money management. This class teaches students about core investment terminology and practices such as working with mutual funds, retirement plans, and annuities. Coursework covers how to calculate the possible return on stocks and bonds, real estate, mutual funds, and annuities. This class is a must for anyone who wants to learn how to get the most out of their 401(k), 403(b), or IRA. This program costs $58 and can be completed in two and a half hours. Proof of COVID-19 vaccination is required to attend. This program is taught in Santa Monica.
In addition to in-person training options in Los Angeles, live online accounting coursework is also available. These hands-on classes provide learners with the same educational benefits as classroom training but eliminate the need to commute or spend money on parking. Various courses are available from top providers around the US for beginner, intermediate, and advanced learners.
QuickBooks Bootcamp is currently available from NYC Career Centers. This program is designed for those looking to learn how QuickBooks can be used to record expenses and transactions, as well as to create financial reports. Comprehensive training is provided on fundamental QuickBooks skills like setting up a company, entering an opening balance, and working with customers and vendors. Learners are taught about payment processing, invoicing, and handling multiple bank accounts. By course completion, those enrolled will be able to customize reports, manage inventory, and work with credit card accounts. Tuition is $499 for this two-day program. This fee includes a free course retake for one full year.
American Management Association’s Fundamentals of Cost Accounting is intended for those who want to learn how to identify and classify the cost of goods that are being sold and compare them to inventory costs. Instruction is provided on the techniques a company uses to value inventory. This class is geared toward non-financial managers interested in learning how to work with core financial documents such as cash flow statements, income statements, and balance sheets. This 15-hour program requires three days to complete. Tuition is $2,595.
Noble Desktop, an educational provider in New York City, offers several introductory-level accounting classes in the live online format. Financial Modeling Bootcamp is intended for those interested in acquiring beginner to advanced Excel spreadsheet skills and training with financial modeling. This hands-on program offers instruction on how to create a financial model for a real company. Students explore investment banking skills, equity research, corporate finance, and private equity. Tuition is $995 for this 18-hour class; this fee includes a free retake for one full year. As a prerequisite, prospective students should have a background in basic financial concepts, as well as intermediate-level Excel proficiency. Noble also offers Intro to Financial Accounting. This one-day class covers core finance skills such as how to analyze financial statements and reports for companies like Amazon and Facebook. Instruction is provided on income statement line items, accounting principles, key metrics, and balance sheets. The cost of study is $325, which includes a free course retake for a year.
If you’re interested in providing hands-on training for the employees at your workplace in accounting, several corporate finance training options are currently available from Noble Desktop. You can select from onsite training options that can take place at your location or live online coursework. Corporate training offers the flexibility of allowing you to decide which skills your employees would most benefit from learning, as well as when this training should be provided. Courses are available that teach your employees core finance and accounting practices, terminology, and skills such as financial analysis, financial modeling, FinTech, or how to work with Python to gather and manipulate financial data. All study options can be customized to ensure instruction is provided at the appropriate level of difficulty and that it takes place around your employees’ schedules. Noble also provides free consultations in which you can discuss how to tailor custom training. Additionally, group vouchers are available for those who are interested in purchasing in bulk to train several employees. If you’d like to learn more about Noble’s corporate training options in accounting, don’t hesitate to contact Noble today.