Financial Accounting
Financial accounting - IITMandi is intended for first-time students of financial accounting at the undergraduate or graduate level for learning in a structured.
Online
12 Weeks
Free Quick Facts
| Medium Of Instructions | Mode Of Learning | Mode Of Delivery |
|---|---|---|
| English | Self Study | Video and Text Based |
Course Overview
Financial accounting - IIT Mandi Certification is about that branch of accounting involving a process of recording, summarizing, and reporting the transactions resulting from business operations over a period of time.
Financial accounting - IIT Mandi Classes will enable a student to read and analyze financial statements of a business, companies, and corporations.
All students get a Financial accounting - IIT Mandi Certification by Indian Institute of Technology Mandi (IIT Mandi) under the Swayam Initiative by the Government of India.
The Highlights
- Provided by IIT Mandi
- Online course
- 12 weeks course
- Shareable Certificate
- Expert Lectures
Programme Offerings
- video lectures
- Study Materials
Courses and Certificate Fees
| Fees Informations | Certificate Availability | Certificate Providing Authority |
|---|---|---|
| INR 1000 | yes | IIT Mandi |
If you want a certificate, you have to register and write the final exam, which is optional for a fee of just Rs 1,000, and only the e-certificate will be made available after you get the required marks.
Financial accounting - IITMandi Certification Fees :
The Financial accounting - IITMandi Certification Fees are nil. It's open to all interested candidates.
Description | Amount |
Course Fees | Free |
Course Fees (with certification) | Rs. 1,000/- |
Eligibility Criteria
Educational Qualification
Candidates appearing or appeared for qualifying exams
Certificate Qualifying Details
E-certificates will be issued to all such participants who have an average assignment score which is greater than or equal to 10/25 and exam score is greater than 30/75 and if one of the above-mentioned criteria is not met, you will not get the certificate.
Work experience
Any working experience is not required to get enrolled in this certificate course.
What you will learn
Students enrolling for the Financial accounting - IIT Mandi Certification Course will teach the fundamentals of financial accounting for those who have not been exposed to financial terms.
Financial accounting - IITMandi Training will help you learn how to prepare a balance sheet, income statement, and cash flow statement, analyze financial statements, and calculate and interpret critical ratios. You can also have a further look into Accounting And Financial Analysis Certification Courses.
After completion of this Financial accounting - IIT Mandi Certification, the learning outcomes include:
- Overview of Health care Industries challenges and patient information system.
- Acquaint the students regarding various accounting concepts
- Applications of Financial Accounting in managerial decision-making.
Who it is for
There shall be good job opportunities if the relevant students apply for Financial accounting - IITMandi Online Course:
Admission Details
The admission for the certificate course in Financial accounting - IIT Mandi Certification starts soon and interested students are requested to enroll as soon as possible by following these steps:
Step 1: Visit the official website
Step 2: Fill up the form
Step 3: Upload all necessary documents
Step 4: Pay the required fee online (if you need certification)
The Syllabus
Introduction to Financial Accounting
- Definition of accounting
- Course contents
- Preparation of financial statements: Accounting cycle
- Decision making using financial statements
- Accounting: An art or a science?
- Environment of financial reporting
Company form of business
- What is a company?
- Types of companies
- Private company vs Public company
- Visuals test to identify public companies
Accounting as an information system
- Business and information requirement
- Stakeholders of a business
- Information: Tip of accounting ice-berg
Key accounting terms: Assets, Liabilities, Income, Expenses
- Four key terms in accounting
- Sources of funds
- Use of funds
- The sources vs The uses
- Types of Assets
- Types of Liabilities
- Types of Incomes
- Types of Expenses
Tutorial: Key accounting terms: Assets, Liabilities, Income, Expenses
- Identifying the category and sub category of various accounting terms
Accounting equation
- What is the accounting equation?
- Working of accounting equation
- Example: accounting equation
- Summary: accounting equation
Walkthrough of Balance Sheet I
Walkthrough of Balance Sheet II
Walkthrough of Balance Sheet III
Walkthrough of Income Statement
Generally Accepted Accounting Principles I
- Business Entity Concept
- Money Measurement Concept
- Going Concern Concept
- Accounting Period Concept
- Cost Concept
Generally Accepted Accounting Principles II
- Conservatism Concept
- Accrual Concept
- Matching Concept
- Full Disclosure Concept
- Materiality
Recap and way forward
Types of accounts
- What is an account?
- What are types of accounts?
Tutorial - Types of accounts
Debit and Credit
- Claims of business
- What is debit and credit
- Misconception about debit and credit
Tutorial - Debit and Credit
Rules of debit and credit
- Rules of Debit and Credit
- Identifying receiver and giver
- Identifying what comes in and goes out
- Identifying incomes and expenses
Entering transactions in Journal
- Format of journal
- Journalizing the transactions
- Output of journalising
Tutorial: Journal entries
Key trends in journalizing
- Assets Purchased/Sold
- Liabilities Raised/ Paid back
- Expenses paid or due and Incomes received or accrued
Journalizing complex transactions
Practice Problem I
Practice Problem II
Practice Problem III
Summary: Journal entries
Recap and way forward
Introduction to Ledger
Process of Ledger posting
Balancing the accounts
Debit and Credit Balances
Tutorial - Identifying balances
Practice Problem I
Practice Problem II
Practice Problem III
Recap and way forward
Introduction to Trial Balance
- Introduction to Trial Balance
- Why Trial Balance?
- Format of Trial Balance
Preparation of Trial Balance
Practice Problem I
Practice Problem II
Errors in Trial Balance
Recap and way forward
Introduction to Final Accounts
- What are Final Accounts
- Format of Final Accounts
- Format of Balance Sheet
Tutorial - Identifying direct and indirect expenses
Tutorial - Mapping operating and non operating items to direct and indirect items
- Tutorial - Mapping Expenses and Incomes
- Visual Mapping of Expenses and Incomes
Preparation of Final Accounts
- Profit and Loss account
- Balance Sheet
Tutorial - Preparation of Final Accounts
Tutorial - Preparation of Trading Account
Tutorial - Preparation of P&L Account
Tutorial - Preparation of Balance Sheet
Practice Problem
Adjustments in Final Accounts
Transactions to be adjusted in Final Accounts
Tutorial - Adjustments in Final Accounts
Tutorial -Calculating Cost of Goods Sold
Tutorial -Outstanding Expenses
Tutorial - Prepaid Expenses
Validating the learning - Balance Sheet
Validating the learning - Income Statement
Recap and way forward
Introduction to Financial Statement Analysis
- verview
- Types of Ratios
Liquidity Ratios
- Need for Liquidity ratios
- Types of Liquidity ratios
Tutorial - Liquidity Ratios
Solvency Ratios
- Need for Solvency ratios
- Types of Solvency ratios
Tutorial - Solvency Ratios
Profitability Ratios
- Need for Profitability ratios
- Types of Profitability ratios
utorial - Profitability Ratios
Efficiency Ratios
- 6.8.1Need for Efficiency ratios
- 6.8.2Types of Efficiency ratios
Tutorial - Efficiency Ratios
Validating the learning - Walkthrough of RIL's Annual Report
Online Resources for Financial Analysis
Practice Problem: Liquidity Position
Lecture No:6.13 Practice Problem – Solvency Position
Practice Problem - Profitability Position I
Practice Problem - Profitability Position II
Practice Problem – Interpretation of Ratios
Recap and way forward
Types of Cash Flows
- 7.1.1Inflows and Outflows
- 7.1.2Types of cash flows
Tutorial - Types of cash flows
Walkthrough of Cash Flow Statement of RIL
Profit and Loss Appropriation Account
Cash flows from Operating Activities
Tutorial - Changes in working capital
Tutorial - Cash flows from Operating Activities
Tutorial - Cash flows from Operating Activities
Cash flows from Investing Activities
Tutorial - Cash flows from Investing Activities
Cash flows from Financing Activities
Tutorial - Cash flows from Financing Activities
Preparing Cash Flow Statement
Identifying hidden information
- Provision of tax
- Purchase or sale of fixed assets
- Provision of dividend
Practice Problem
Need of Break Even Analysis
- Need of Break Even Analysis
- Application of BEA
- Cost Volume Profit Analysis
Understanding the nature of costs
Contribution Margin
- Contribution
- Contribution per Unit
- Contribution Margin
Tutorial - Contribution
Break Even Point
- Break Even Point/ Level, Sales and Capacity
- Break Even point Calculator
Tutorial - Break Even Point
Tutorial - Break Even Point
Visualizing the Break Even Point
Lecture No: 8.9 Tutorial - Break Even Analysis
Case - Break Even Analysis
Theoretical foundation for economic order quantity
Tutorial
ABC analysis
Tutorial
Stock accounting: LIFO, FIFO
Tutorial
Evaluation process
Yes, there’s an exam at the end of the course after 12 weeks.
IIT Mandi Frequently Asked Questions (FAQ's)
Financial accounting is important for businesses because it helps them keep track of their financial transactions and make sound decisions on how to allocate their resources.
The classes are taken in online virtual mode through video lectures.
A public company's income statement is a prime example of financial accounting.
The instructor is Prof. Puran Singh - an Assistant Professor of Finance from IIT Mandi.
The Financial Accounting course focuses on understanding accounting, accounting concepts, accounting principles, accounting cycle, recording of transactions, and financial statement concepts.