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Course / Course Details

Financial Accounting – Basic Level 1 | Practical Accounting Course

By - Aditya Sahoo
15 Hours
(0)

Course Requirements

No previous accounting experience is required.

Learners should have:

Basic numerical skills
Basic English reading and understanding
A computer, laptop, tablet or mobile device with internet access
Interest in learning practical accounting
Willingness to complete exercises and case studies

This course starts from basic accounting concepts and gradually progresses to practical financial statement preparation.

Course Description

Financial Accounting – Basic Level 1 is a practical accounting course designed for learners who want to understand how day-to-day accounting transactions are recorded and how books of accounts are maintained.

The course starts with fundamental accounting concepts, including Debit & Credit rules, types of accounts, cash and accrual accounting, and the classification of financial statement items. Learners then progress through journal entries, vouchers, ledgers, Trial Balance, Profit & Loss Account and Balance Sheet preparation.

The course also introduces practical areas including receivables and payables, fixed assets and depreciation, inventories, cost of goods sold, purchase and sales cycles, overheads, bank reconciliation, simple interest, break-even analysis, payback period and partnership accounts.

Practical case studies are included to help learners apply accounting concepts to the preparation of Profit & Loss Accounts and Balance Sheets.

This LMS course is developed from recorded live training sessions, allowing learners to study the lessons online at their own pace.

Who Should Join?

This course is suitable for:

Beginners who want to learn accounting from the basics
Non-accounting graduates who want to understand accounting
Employees working in non-accounting roles who want to move into accounting
Fresh graduates preparing to enter the job market
Professionals who need practical accounting knowledge for their work
Learners who want to strengthen their accounting foundation before progressing to advanced accounting, taxation or finance courses

Course Outcomes

After completing this course, learners should be able to:

Understand fundamental accounting concepts
Apply the rules of Debit & Credit
Differentiate between Real, Personal and Nominal Accounts
Understand cash and accrual accounting
Identify Assets, Liabilities, Equity, Expenses, Income, Gains and Losses
Understand Receivables, Payables, Fixed Assets, Depreciation and Inventories
Identify different types of accounting transactions and entries
Record transactions using vouchers and ledgers
Pass accounting entries and post them to ledgers
Prepare a Trial Balance
Prepare a basic Profit & Loss Account
Prepare a basic Balance Sheet
Calculate Cost of Goods Sold, profit and mark-up percentages
Understand purchase and sales cycles
Differentiate product costs, period costs and overheads
Perform basic bank reconciliation
Calculate simple interest
Understand fixed, variable, direct and indirect expenses
Calculate break-even point and payback period
Understand partners' capital/current accounts and profit/loss allocation
Apply accounting knowledge through practical case studies

Course Curriculum

1 chapters
10 events
0 quizzes
15 Hours total length

Toggle all chapters

1 PDF Notes-1: FINANCIAL ACCOUNTING COURSE

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2 PDF Notes-2: UNDERSTANDING THE INCOME STATEMENT AND BALANCE SHEET

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3 Video-1

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4 Video-2

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5 Video-3

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6 Video-4

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7 Video-5

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8 Video-7

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9 Video-6

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10 Financial Accounting- Mock Link-1

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Financial Accounting- Mock Link-1

Instructor

Aditya Sahoo

Commercially sound seasoned Finance Professional with 20 Years of extensive experience in UAE across Manufacturing , Engineering, Healthcare, Pharmaceuticals, FMCG, Trading and Retail & Distribution Industries.I serve as Finance Business Partner with the senior management leading and directing the business. I believe in profit & balance sheet planning. My Skills and Expertise include: Experienced in Revenue and Margin management, Business Performance Evaluation, Strategy and Planning, P&L and B/S management, Financial & Management Reporting, Budget & Business plans, Audit, Consolidation, Banking & fund raising, Working capital and cash management, Cap-ex & Op-ex, Job and process costing, Liquidity management, Financial modelling, System & process Improvement, Policies & Procedures, Corporate strategies, Debt restructuring, Change management, Project management, People Management, Change management, Negotiation, Stake holder management, SAP implementation, VAT, IFRS & SOX. Possess strong analytical, problem solving and decision-making skills along with a passion for work and ability to build productive partnerships.

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