Financial Accounting and Cost Accounting
Dive deeper into the preparation and interpretation of financial statements, including account concepts and GAAP
Financial Accounting and Cost Accounting free download
Dive deeper into the preparation and interpretation of financial statements, including account concepts and GAAP
To familiarize students with the mechanics of preparation of financial statements, understanding corporate financial statements, their analysis and interpretation, role of IFRS in accounting discipline, and the concept of management quality analysis and wealth creation.
Learning Outcomes
· Understand the process of recording and classifying the business transactions and events
· Understand the financial statements, viz., Profit and Loss Account, Balance Sheet, and cash flow statement of a sole proprietor.
· Understand the role of IFRS/Ind-AS in accounting discipline.
· Understand and Analyze the financial statements from different the perspective of different stakeholders using ratio analysis.
· Understanding of financial distress or bankruptcy prediction and how to analyze management quality means the concept of beyond balance sheet.
The Importance of Financial Statements in Today’s World
The language of business is encapsulated in financial statements. Financial statements provide a scorecard for how a business is doing. Over a series of years, it provides a map of the business’s performance. Managers judge the success of their business with financial statements. Investors make intelligent investing decisions with financial statements. In addition, people in the business world are being held more accountable for their financial statement practices since Enron and WorldCom. They need to know what goes into financial statements.
Learn to Read Financial Statements, Not Prepare Them.
Just as you don’t need to understand how to make a car in order to drive one, you don’t have to understand bookkeeping to read financial statements. I've prepared a course that eliminates the bookkeeping drudgery and concentrates on the end product of accounting, how to read financial statements, not how to prepare them.
Like climbing a spiral staircase, I will teach you how to read three real company’s financial statements (Whole Foods, Sherwin Williams, and Facebook), starting with the simple and progressing to the complex, interspersing the statements with key accounting terms and concepts to help you build expertise.
