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
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)
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.