OBCOM-DS-102: Financial Accounting

Dr.Divya Gupta
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Amit Kumar
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Ratika Agarwal
Last Update October 22, 2021
2 already enrolled

About This Course

Accounting is the system of recording financial transactions with both numbers and text in the form of financial statements. It provides an essential tool for billing customers, keeping track of assets and liabilities (debts), determining profitability, and tracking the flow of cash.

The system is largely self-regulated and designed for the users of financial information, who are referred to as stakeholders: business owners, lenders, employees, managers, customers, and others. Stakeholders utilize financial statements to help make business, lending, and investment decisions.

Learning Objectives

1. Apply the knowledge of financial accounting, to the practical aspects of business;
2. Understand the prevailing business environment and be able to take decisions under risk and uncertainty;
3. Strengthen the theoretical, analytical and applied knowledge based on accountancy;

Requirements

  • Student need to understand the financial aspects of business.

Target Audience

  • 10+2 students, graduates, skilled professionals, entrepreneur and person doing job.

Curriculum

84 Lessons

UNIT 1: Introduction to Financial Accounting

FAQ00:00:00Preview
Assignment

1. Meaning, objectives, users and limitations of accounting

2. Accounting principles

3. Accounting conventions and standards

4. Basis & branches of accounting

5. Accounting process

6. Accounting equation & double entry system

UNIT 2: Recording, Classifying and Summarizing of Accounting Transactions

7. Accounting transactions & classification of accounts

8. Concept of book of original entry & recording of transactions in Journal using rules of debit & credit

9. Recording of transactions in Journal

10. Concept of ledger & posting of Journal entries into ledger accounts

11. Posting of Journal Entries into Ledger Accounts

12. Introduction to subsidiary books & types

13. Meaning & objectives of trial balance

14. Preparation of trail balance

UNIT 3: Errors and Bank Reconciliation Statement

15. Classification of errors – I

16. Classification of errors – II

17. Methods of rectifying errors – I

18. Methods of rectifying errors – II

19. Meaning & need for preparation of Bank Reconciliation Statement

20. Identifying causes of difference between bank balance as per cash book and pass book

21. Preparation of Bank Reconciliation Statement

UNIT 4: Depreciation Accounting

22. Introduction to the Concept of Depreciation and its synonyms

23. Methods of depreciation

24. Comparison of SLM & WDV methods& methods of recording depreciation

25. Explanation of Annuity Methods and Sinking fund methods

26. Disposal of an asset

27. Changing Rate/Method depreciation and its treatment

UNIT 5: Final Accounts – I

28. Introduction to Capital and Revenue Expenditure with examples

29. Introduction to Capital and Revenue Receipts with examples

30. Introduction to Deferred Revenue Expenditures with examples

31. Introduction to financial statements

32. Format of Financial Statements and its interpretation

33. Preparation of Final Accounts with adjustments – I

34. Preparation of Final Accounts with adjustments – II

35. Preparation of Final Accounts with adjustments – III

UNIT 6: Final Accounts – II

36. Introduction to Non-Profit Organizations

37. Difference between Receipts & Payment A/c and Income & Expenditure A/c

38. Preparation of Final Accounts of an NPO – I

39. Adjustments in Final Accounts of an NPO – II

40. Adjustments in Final Accounts of an NPO – III

Your Instructors

Dr.Divya Gupta

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Amit Kumar

Assistant Professor/Instructor

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Faculty of Finance, Operations and Statistics. Having 13 years of Experience in Various renowned university and published 35 National/International Research Paper on Scopus and UGC care
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Ratika Agarwal

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Level
All Levels
Lectures
84 lectures
Subject
Language
English

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