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Quick Facts

Medium Of Instructions	Mode Of Learning	Mode Of Delivery
English	Self Study	Video and Text Based

Course Overview

Financial accounting - IITMandi 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 - IITMandi Classes will enable a student to read and analyze financial statements of a business, companies, and corporations.

All students get a Financial accounting - IITMandi 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 1000, 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)	INR 1000/-

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

Financial knowledge

Students enrolling for the Financial accounting - IITMandi 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 - IITMandi 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

Account ManagerChartered AccountantAccountant

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 - IITMandi 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

Lecture No:1.1 Introduction to Financial Accounting

1.1.1Definition of accounting
1.1.2Course contents
1.1.3Preparation of financial statements: Accounting cycle
1.1.4Decision making using financial statements
1.1.5Accounting: An art or a science?
1.1.6Environment of financial reporting

Lecture No:1.2 Company form of business

1.2.1What is a company?
1.2.2Types of companies
1.2.3Private company vs Public company
1.2.4Visuals test to identify public companies

Lecture No:1.3 Accounting as an information system

1.3.1Business and information requirement
1.3.2Stakeholders of a business
1.3.3Information: Tip of accounting ice-berg

Lecture No:1.4 Key accounting terms: Assets, Liabilities, Income, Expenses

1.4.1Four key terms in accounting
1.4.2Sources of funds
1.4.3Use of funds
1.4.4The sources vs The uses
1.4.5Types of Assets
1.4.6Types of Liabilities
1.4.7 Types of Incomes
1.4.8Types of Expenses

Lecture No:1.5 Tutorial: Key accounting terms: Assets, Liabilities, Income, Expenses

1.5.1Identifying the category and sub category of various accounting terms

Lecture No:1.6 Accounting equation

1.6.1What is the accounting equation?
1.6.2Working of accounting equation
1.6.3Example: accounting equation
1.6.4Summary: accounting equation

Lecture No:1.7 Walkthrough of Balance Sheet I

Lecture No:1.8 Walkthrough of Balance Sheet II

Lecture No:1.9 Walkthrough of Balance Sheet III

Lecture No:1.10 Walkthrough of Income Statement

Lecture No:1.11 Generally Accepted Accounting Principles I

1.11.1Business Entity Concept
1.11.2Money Measurement Concept
1.11.3Going Concern Concept
1.11.4Accounting Period Concept
1.11.5Cost Concept

Lecture No:1.12 Generally Accepted Accounting Principles II

1.12.1Conservatism Concept
1.12.2Accrual Concept
1.12.3Matching Concept
1.12.4Full Disclosure Concept
1.12.5Materiality

Lecture No:2.0. Recap and way forward

Lecture No:2.1 Types of accounts

2.1.1What is an account?
2.1.2What are types of accounts?

Lecture No:2.2 Tutorial - Types of accounts

Lecture No:2.3 Debit and Credit

2.3.1Claims of business
2.3.2What is debit and credit
2.3.3Misconception about debit and credit

Lecture No:2.4 Tutorial - Debit and Credit

Lecture No:2.5 Rules of debit and credit

2.5.1Rules of Debit and Credit
2.5.2Identifying receiver and giver
2.5.3Identifying what comes in and goes out
2.5.4Identifying incomes and expenses

Lecture No:2.6 Entering transactions in Journal

2.6.1Format of journal
2.6.2Journalizing the transactions
2.6.3Output of journalising

Lecture No:2.7 Tutorial: Journal entries

Lecture No:2.8 Key trends in journalizing

2.8.1Assets Purchased/Sold
2.8.2Liabilities Raised/ Paid back
2.8.3Expenses paid or due and Incomes received or accrued

Lecture No:2.9 Journalizing complex transactions

Lecture No:2.10 Practice Problem I

Lecture No:2.11 Practice Problem II

Lecture No:2.12 Practice Problem III

Lecture No:2.13 Summary: Journal entries

Lecture No:3.0. Recap and way forward

Lecture No:3.1 Introduction to Ledger

Lecture No:3.2 Process of Ledger posting

Lecture No:3.3 Balancing the accounts

Lecture No:3.4 Debit and Credit Balances

Lecture No:3.5 Tutorial - Identifying balances

Lecture No:3.6 Practice Problem I

Lecture No:3.7 Practice Problem II

Lecture No:3.8 Practice Problem III

Lecture No:4.0. Recap and way forward

Lecture No:4.1 Introduction to Trial Balance

4.1.1Introduction to Trial Balance
4.1.2Why Trial Balance?
4.1.3Format of Trial Balance

Lecture No:4.2 Preparation of Trial Balance

Lecture No:4.3 Practice Problem I

Lecture No:4.4 Practice Problem II

Lecture No:4.5 Errors in Trial Balance

Lecture No:5.0 Recap and way forward

Lecture No:5.1 Introduction to Final Accounts

5.1.1What are Final Accounts
5.1.2Format of Final Accounts
5.1.3Format of Balance Sheet

Lecture No:5.2 Tutorial - Identifying direct and indirect expenses

Lecture No:5.3 Tutorial - Mapping operating and non operating items to direct and indirect items

5.3.1Tutorial - Mapping Expenses and Incomes
5.3.2Visual Mapping of Expenses and Incomes

Lecture No:5.4 Preparation of Final Accounts

5.4.1Profit and Loss account
5.4.2Balance Sheet

Lecture No:5.5 Tutorial - Preparation of Final Accounts

Lecture No:5.6 Tutorial - Preparation of Trading Account

Lecture No:5.7 Tutorial - Preparation of P&L Account

Lecture No:5.8 Tutorial - Preparation of Balance Sheet

Lecture No:5.9 Practice Problem

Lecture No:5.10 Adjustments in Final Accounts

Lecture No:5.11 Transactions to be adjusted in Final Accounts

Lecture No:5.12 Tutorial - Adjustments in Final Accounts

Lecture No:5.13 Tutorial -Calculating Cost of Goods Sold

Lecture No:5.14 Tutorial -Outstanding Expenses

Lecture No:5.15 Tutorial - Prepaid Expenses

Lecture No:5.16 Validating the learning - Balance Sheet

Lecture No:5.17 Validating the learning - Income Statement

Lecture No:6.0 Recap and way forward

Lecture No:6.1 Introduction to Financial Statement Analysis

6.1.1Overview
6.1.2Types of Ratios

Lecture No:6.2 Liquidity Ratios

6.2.1Need for Liquidity ratios
6.2.2Types of Liquidity ratios

Lecture No:6.3 Tutorial - Liquidity Ratios

Lecture No:6.4 Solvency Ratios

6.4.1Need for Solvency ratios
6.4.2Types of Solvency ratios

Lecture No:6.5 Tutorial - Solvency Ratios

Lecture No:6.6 Profitability Ratios

6.6.1Need for Profitability ratios
6.6.2Types of Profitability ratios

Lecture No:6.7 Tutorial - Profitability Ratios

Lecture No:6.8 Efficiency Ratios

6.8.1Need for Efficiency ratios
6.8.2Types of Efficiency ratios

Lecture No:6.9 Tutorial - Efficiency Ratios

Lecture No:6.10 Validating the learning - Walkthrough of RIL's Annual Report

Lecture No:6.11 Online Resources for Financial Analysis

Lecture No:6.12: Practice Problem: Liquidity Position

Lecture No:6.13 Practice Problem – Solvency Position

Lecture No:6.14 Practice Problem - Profitability Position I

Lecture No:6.15 Practice Problem - Profitability Position II

Lecture No:6.16 Practice Problem – Interpretation of Ratios

Lecture No:7.0 Recap and way forward

Lecture No:7.1 Types of Cash Flows

7.1.1Inflows and Outflows
7.1.2Types of cash flows

Lecture No:7.2 Tutorial - Types of cash flows

Lecture No:7.3 Walkthrough of Cash Flow Statement of RIL

Lecture No:7.4 Profit and Loss Appropriation Account

Lecture No:7.5 Cash flows from Operating Activities

Lecture No:7.6 Tutorial - Changes in working capital

Lecture No:7.7 Tutorial - Cash flows from Operating Activities

Lecture No:7.8 Tutorial - Cash flows from Operating Activities

Lecture No:7.9: Cash flows from Investing Activities

Lecture No:7.10: Tutorial - Cash flows from Investing Activities

Lecture No:7.11 Cash flows from Financing Activities

Lecture No:7.12 Tutorial - Cash flows from Financing Activities

Lecture No:7.13 Preparing Cash Flow Statement

Lecture No:7.14 Identifying hidden information

7.14.1Provision of tax
7.14.2Purchase or sale of fixed assets
7.14.3Provision of dividend

Lecture No:7.15 Practice Problem

Lecture No:8.1 Need of Break Even Analysis

8.1.1Need of Break Even Analysis
8.1.2Application of BEA
8.1.3Cost Volume Profit Analysis

Lecture No:8.2 Understanding the nature of costs

Lecture No:8.3 Contribution Margin

8.3.1Contribution
8.3.2Contribution per Unit
8.3.3Contribution Margin

Lecture No:8.4 Tutorial - Contribution

Lecture No:8.5 Break Even Point

8.5.1 Break Even Point/ Level, Sales and Capacity
8.5.2 Break Even point Calculator

Lecture No: 8.6 Tutorial - Break Even Point

Lecture No: 8.7 Tutorial - Break Even Point

Lecture No: 8.8 Visualizing the Break Even Point

Lecture No: 8.9 Tutorial - Break Even Analysis

Lecture No: 8.10 Case - Break Even Analysis

Lecture No:9.1 Theoretical foundation for economic order quantity

Lecture No:9.2 Tutorial

Lecture No:9.3 ABC analysis

Lecture No:9.4 Tutorial

Lecture No:9.5 Stock accounting: LIFO, FIFO

Lecture No:9.6 Tutorial

Evaluation process

Yes, there’s an exam at the end of the course after 12 weeks.

IIT Mandi Frequently Asked Questions (FAQ's)

1: What is the importance of financial accounting?

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.

2: How are the classes for the Financial accounting - IITMandi Online Course being held?

The classes are taken in online virtual mode through video lectures.

3: What is an example of financial accounting?

A public company's income statement is a prime example of financial accounting.

4: Who is teaching this course?

The instructor is Prof. Puran Singh - an Assistant Professor of Finance from IIT Mandi.

5: What is a financial accounting course?

The Financial Accounting course focuses on understanding accounting, accounting concepts, accounting principles, accounting cycle, recording of transactions, and financial statement concepts.