Module 1: Introduction To Financial Accounting
Accounting Concepts and Conventions; Recording, Classifying and Summarizing Business Transactions: Journalizing, Ledger Posting, and Preparation of Trial Balance; Overview of subsidiary books and bank reconciliation statement
Module 2: Final Accounts of Proprietary Concerns
Measurement of Financial Performance and Position, Preparation of Trading Account, Profit & Loss Account and Balance Sheet with the adjustments relating to: closing stock, outstanding expenses, prepaid expenses, accrued incomes, unearned incomes, depreciation, bad debts, provision for bad debts, provision for discount on debtors, interest on capital, and interest on drawings
Module 3: Company Final Accounts
Statutory Provisions regarding preparation of Company Final Accounts; Treatment of Special Items: Managerial Remuneration, Tax deducted at source, Advance payment of Tax, Provision for Tax, Depreciation, Interest on debentures; Dividends, Rules regarding payment of dividends; Transfer to Reserves; Preparation of Income Statement and Balance Sheet as per the revised formats
Module 4: Cash Flow Statement
Meaning, Importance, and Limitations of Cash Flow Statement; Cash Equivalents; Classification of cash flows into operating, investing, and financing; Calculating net cash flows from operating (Direct and Indirect Methods), investing, and financing activities; Preparation of Cash Flow Statement as per AS-3; Cash flow ratios and Cash Flow Analysis
Module 5: Financial Reporting Standards
Financial Reporting Standards-Meaning and Needs; Overview of Indian Accounting Standards (IND ASs); Overview of International Financial Reporting Standards; Overview of U.S. GAAPs; Comparison of U.S. GAAPs and IFRS: Similarities and Differences
Who Should Attend?
After completing this course and successfully passing the certification examination, the student will be awarded the “Financial Accounting and Reporting” certification.
If a learner chooses not to take up the examination, they will still get a 'Participation Certificate'