About this course
The Financial Accounting course will introduce you to the world of finance. It will explain you with the fundamentals of financial accounting concepts, principles and policies. It will also explain the concepts of double entry accounting and what subsidiary books are and show you how to create a trial balance and the final accounts.
Why Learn Financial Accounting?
Financial accounting is the process of summarising financial data taken from an organisation's accounting records and publishing in the form of annual (or more frequent) reports for the benefit of people outside the organisation. Financial accountants are responsible for creating and issuing the company's financial statements, providing accurate and timely information to the management, and ensuring that all the regulatory reporting requirements are met. It provides valuable, accurate, and reliable information.
The Financial Accounting course will introduce you to the world of finance. It will provide you with a basic knowledge of financial accounting concepts, principles and policies. It will also explain to you the concepts of double entry accounting, tell you what subsidiary books are and show you how to create a trial balance and the final accounts.
Join us on this exciting journey as we learn about Financial Accounting and how to apply it in organisations. In the next few pages of the Learner's Handbook, we will tell you more about the curriculum, duration, teaching methods and career options available to you after the completion of this course.
Learning Plan
You are expected to spend the following effort in completing this course:
Activity Time Spent (hrs.)
Read Learner Handbook 1
Watch videos for all modules 20
Self-Assessment Exercises 5
Total 26
What Next?
This course provided you an overview of the field of Financial Accounting. To gain further competency as a Finance professional you would need to gain an understanding of one or more of the following areas:
Management Accounting
Finance for Non-Finance
Basic Corporate Finance
Equity Research
Financial Risk Management
Private Equity
Financial Accounting is a powerful and important field for all organisations. To remain employable and competitive, you need to be frequently taking courses and learning about all the different aspects of Finance and how they are applied across companies.
What are the requirements?
- The course starts from the basics of financial accounting and hence does not require any prerequisite knowledge. However, having some idea of finance and accounts will make the course easier to understand.
What am I going to get from this course?
- Over 20 lectures and 4.5 hours of content!
- By the end of this course, you will be able to:
- ¢ Define accounting
- ¢ List the various stages in an accounting cycle
- ¢ Explain commonly used accounting concepts, accounting conventions and principles
- ¢ Define accounting policies and list their disclosure requirements
- ¢ Define the commonly used terms in accounting
- ¢ Explain double entry accounting
- ¢ Journalize the transactions
- ¢ Prepare ledger accounts in the books of accounts
- ¢ Describe subsidiary books
- ¢ Define trial balance
- ¢ Identify and list adjusting entries in books of accounts
- ¢ Identify and rectify errors in books of accounts
- ¢ Explain financial statements
- ¢ Record the adjustments in the books of accounts before finalizing the financial statements
What is the target audience?
- Students of Commerce or Accounts
- MBA students or graduates
- People who want to learn about the basics about financial accounting
