Fundamentals of Accounting

Course summary

Knowledge of accounting is crucial for professionals in finance sector. When it comes to business, it holds true that one must be able to understand the concept, terminologies, application of accounting concepts and principles. This course on 'Fundamentals of Accounting' provides insight on business and business structure, types of accounting, accounting transactions, methods, rules and principles of accounting. The course also covers information on complex topics such as book of accounts, trial balance, accounting errors, depreciation accounting, bank reconciliation statement and final accounts. The course delves deep into financial ratio analysis and cash flow and fund flow statements.

Learning outcome

By the end of the course, learner will be able to:

  • Understand the need for accounting, types of business structures and their features.
  • Describe the accounting transactions and their types.
  • Understand the types of accounting systems and the golden rules of accounting.
  • Gain a comprehensive knowledge of the Generally Accepted Accounting Principles (GAAP) and its categories.
  • Understand types of books of accounts and their maintenance, the trial balance and its purpose, methods of trial balance, and accounting errors, depreciation and its methods, and compare depreciation with amortization.
  • Understand the bank reconciliation statement with examples and the importance of financial statements.
  • Prepare trading account, Profit and Loss (P&L) account.
  • Elaborate the purpose, uses, preparation and accuracy of the balance sheet.
  • Explain the financial ratio and its uses, types and calculation.
  • Prepare cash flow and fund flow statement.

Modules

The course deals with the need for accounting, types of business structures and their features.

The course provides insight on the types of accounting and the functions of each type.

The course deals with accounting transactions and their types.

The course provides an understanding on the types of accounting systems, classification of accounting systems and the golden rules of accounting.

The course provides comprehensive knowledge of the Generally Accepted Accounting Principles (GAAP) and its categories.

The course deals with the types of book of accounts and their maintenance.

The course provides knowledge of trial balance and its purpose, methods of trial balance, and accounting errors.

The course deals with depreciation and its methods, and compare depreciation with amortization.

The course provides insight on bank reconciliation statement with examples.

The course deals with importance of financial statements and preparation of trading account..

The course provides comprehensive knowledge about the Profit and Loss (P&L) account.

The course deals with the purpose, uses, preparation and accuracy of balance sheet.

The course provides an understanding of the financial ratio and its uses, types and calculation.

The course deals with cash flow statement and fund flow statement in detail.