Financial accounting & a major branch of accounting involves compilation, recording and abstraction of financial information, and the synopsis of it in the form of a periodic profit and loss account, a balance sheet and a financial statement in accordance with legal, professional, and capital market requirements.
The information, which is recorded, helps the company to assess its financial performance and soundness. This information is also useful to investors, banks, suppliers and government.
This course aims to:
- Provide basic knowledge of Financial Accounting – definitions, conventions, principles and related terminologies.
- Impart lessons on Book Keeping System (Journal, Ledger Posting, Trial Balance and financial Statements).
The course is very informative and interactive with many practice questions.
Learning Outcomes:
By the end of the course, you will be able to:
- Define accounting, basic terminology, its objectives, process, users and branches.
- Explain the accounting concepts and conventions, including General Accepted Accounting Principles (GAAP).
- Post Journal entries and Ledger accounts.
- Draw up a Trial Balance.
- Prepare the Final Accounts:
- Trading
- Profit & Loss Account
- Balance Sheet
Target Audience:
This course is for junior or middle level executives holding positions in functions other than finance and accounting. It is also relevant to senior executives from non-finance functions who are on the verge of taking over profit center operations.
Pre–requisites:
No previous knowledge about the concept is required.
