Fundamentals of Financial Accounting

By Dr. Sweta S. Metha | Savitribai Phule Pune University, Pune

Learners enrolled: 1433

Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet. This MOOCs course on Financial Accounting will help you to get an insight into accounting system, which is based on concrete principles and rules. You would learn the basic concepts, conventions, accounting standards and understand overall role, scope and importance of Financial Accounting in a business organization. The course includes video lectures by experts, free e-books, various case studies; quizzes, assignments, interaction, mentoring, assessments and much more that would certainly add value to your understanding on financial accounting.

Summary

Course Status :	Completed
Course Type :	Core
Language for course content :	English
Duration :	8 weeks
Category :	Management Studies
Credit Points :	4
Level :	Undergraduate
Start Date :	20 Jul 2020
End Date :	05 Dec 2020
Enrollment Ends :	14 Oct 2020
Exam Date :

Page Visits

Course layout

Weekly Plan
Week 1: Role of Finance in Business, Financial Accounting - Nature, Scope, Limitations,
Basic Concepts and Conventions, Accounting Standards - Meaning and Significance

Week 2: GAAP, Accounting Process, Journal Entries, Profit and Loss Accounts, Balance Sheet

Week 3: Tally System - Introduction and Importance, Tally Operations, Rectification of Errors,
Banking Reconciliation Statement - Introduction and Importance,
Preparation of Bank Reconciliation Statement

Week 4: Consignments - Meaning and Features,
Accounts Treatment in the Books of the Consignor and Consignee,
Joint Ventures - Accounting Procedures Part - 1

Week 5: Joint Ventures - Accounting Procedures Part - 2, Inland Branches,
Depreciation Accounting - Meaning and Causes,
Objects of Providing Depreciation and Factors Affecting Depreciation

Week 6: Accounting Treatment including Provision for Depreciation Accounting,
Methods of Depreciation (Straight line Method and Diminishing Balance Method),
Introduction of Accounting for Hire Purchase Transactions,
Accounting for Hire Purchase Transactions - Operations

Week 7: Partnership - Introduction, Types, Admission and Retirement,
Dissolution of Partnership Firms - Legal Position, Accounting for Simple Dissolution,
Analysis of Financial Statements

Week 8: Common Size Balance Sheet, Introduction, Statement and Application of Ratio Analysis,
Introduction and Application of Cash Flow Statement

Note - This Course Structure has been evenly distributed over a span of 15 Weeks.

Books and references

- J.R. Monga, Basic Financial Accounting, Mayur Paper backs, Darya Gang, New Delhi

- S.N. Maheshwari, Financial Accounting, Vikas Publication, New Delhi

- P.C. Tulsian, Financial Accounting, Tata McGraw Hill, New Delhi

- Ashok Sehgal and Deepak Sehgal, Fundamentals of Financial Accounting, Taxmann, New Delhi

- R. NarayanaSwarmy, Financial Accounting PHI Pvt., New Delhi

- S.P. Jain and K.L. Narang, Advanced Accounting, Kalyani Publishers New Delhi

- Ashok Sehgal and Deepak Sehgal, Fundamentals of Financial Accounting, Taxmann, New Delhi

- Naseem Ahmed, Nawab Ali Khan, M.L. Gupta, Financial Accounting, Ane Books Pvt.Ltd. New Delhi

Instructor bio

Dr. Sweta S. Metha

Savitribai Phule Pune University, Pune

Dr. Sweta Metha
Faculty at Department of Management,
D.E. Society’s Institute of Management & Research, (Affiliated to Shivaji University)
Sangli.

Education:
B.Com., M.B.A. Ph.D

Teaching:
Accounts, Costing, Company Law for UG and PG Students.

Ph.D: Identification and Development of Entrepreneurship skills among farmers in Sangli District