| Financial Accounting (FA) |
Course Description
This course is an adaptation of accounting courses with focus on a company’s financial performance and health. The concept of financial accounting is principally based on GAAP (generally accepted accounting principles). The courses in this product give a complete understanding, right from scratch to preparation and analysis of financial statements.
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 Introduction to Accounting
- Meaning, Functions and Sub fields of Accounting
- Accounting Cycle
- Accounting Principles- Concepts & Conventions
- Accounting Equation
- Types of Accounts
- Rules of Debit & Credit
Finalization of Accounts
- Rectifying the erroneous entries
- Journalizing adjustment entries
- Preparing Adjusted Trial Balance
- Passing the closing or transfer entries
- Preparing financial statements
Financial Statements Analysis-II
- Various other types of ratios including Profitability Ratios, Expense Ratios, Turnover Ratios, and Market Sensitivity Ratios
- Decomposition of ROA and ROE with DuPont Analysis
- Limitations of ratio analysis
Petty Cash Accounting
- Petty cash and its purpose
- Writing petty cash book
- Types of petty cash book
- Control over petty cash
Long-Lived Assets – The capitalization Decision
- Effects of capitalizing versus expensing on net income
- Shareholders equity
- Cash flow from operations
- Financial ratios
- Intangible assets
- Including software development costs
- Research and development costs
Analysis of Financing Liabilities
- Effects of debt insurance
- Amotorization of bond discounts
- Premiums on financial accounts and financial ratios
- Effects on financial statements and financial ratios
- Debt security with debt features
- Effect of issuing debt with equity features
- Disclosures relating to financial liabilities
- Effects of changing the interest rates
- Accounting treatment
- Implications of debt covenants for creditors
Analysis of Income Taxes
- Objectives
- Income Tax Accounting
- Method of Accounting for Deferred Taxes
- Financial Statement Analysis and Deferred Tax Assets/Liabilities
- Pretax and Taxable Income
- Computation of Income Tax and Deferred Taxes
- Tax Rate Changes
- Effective Tax Rate Reconciliation
- Analysis and Disclosures
International Standards Convergence
- Identify and explain the major international accounting standards
- Identify and explain the major international accounting standards for major revenue and expense categories on the income statement
- Identify and explain the major differences between international and U.S GAAP accounting standards
- Interpret the effect of differences between international and U.S GAAP accounting standards on the balance sheet, income statement and statement of changes in equity for some commonly used financial ratios
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Accounting Process
- Analyzing transactions
- Recording transactions
- Posting to ledger
- Balancing the accounts
- Preparing Trial Balance
Financial Statements Analysis-I
- Categorization of ratios
- Various types of ratios including Liquidity Ratios, Solvency Ratios, Structure Ratios, Leverage Ratios, and Coverage Ratios
- Significance of these ratios
Reconciliation of Books
- What is Bank Reconciliation?
- Reasons for reconciling the books
- Procedure or steps for reconciliation
Inventory Accounting
- The basics of inventory
- Inventory accounting systems
- Inventory valuation methods
- Accounting for inventory
- Inventory and its impact on financial statements
Depreciation Accounting
- The basic concepts of depreciation
- The methods of depreciation
- Accounting for depreciation
- Depreciation and its impact on cash flow and income tax
Leases and Off-Balance –Sheet Debt
- Incentives for leasing assets
- Contrast the effects of capital and operating leases on financial statements
- Ratios of lessees and lessors
- Types of off-balance-sheet financing and analyze their effects on selected financial ratios
- Distinguish between sales type leases and direct financing leases and explain the effects of these types of leases on the financial statements of lessors
Financial Reporting Standard
- Objective of Financial Statements
- Importance of reporting standards in security analysis and valuation
- Explain the role of standard-setting bodies
- IFRS framework
- General requirements for financial statements
- Discuss the importance of monitoring developments in financial reporting standards
- Evaluate company disclosures of significant accounting policies
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Duration: 5 Months with 12 Months Access
Course Outcome
Dual Certification from Everonn and Towson University
Course Fee: Rs.18000 |
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