Introduction to Accounting

Overview

Every one of us takes part in accounting of some kind or the other as part of our day-to-day lives. It could be browsing bank statements, preparing a budget for building a house or counting the cost of a birthday party. But for accountants, managers or entrepreneurs working with financial reports means a lot more than just counting and calculating. Hence, this accounting course by IIMBx will provide you an overview of the role of accounting in managing business organisations.

The course begins by providing an overview of business organisations and the role that accounting plays in managing them. Participants will learn about the effect of common business transactions on financial statements, how to apply the double-entry system for processing transactions and the principles of measuring performance and the related mechanics. At the end of this course, they will be able to prepare financial statements.

Prof. R Narayanaswamy

Course Instructor
Finance and Accounting
Indian Institute of Management Bangalore (IIMB)

Full Profile
Course Details

5 weeks

3 - 4 hrs per week

Course Syllabus

Week 1 - Accounting Basics

 

• Business organizations
• What is accounting?
• Users of accounting information
• Accounting principles, standards, and regulations

Week 2 - Understanding Financial Statements

 

• Accounting equation
• Financial statements

Week 3 - Transaction Processing

 

• The accounting system
• Double-entry accounting
• Correcting errors

Week 4 - Measuring Income

 

• Income measurement basics
• Income measurement principles
• Income measurement mechanics
• Accounting for trading activities

Week 5 - Completing the Accounting Cycle

 

• Worksheet
• Year-end procedures

By the end of this MOOC you will be able to:

  • Elaborate on the nature of business organisations and of the users of accounting information
  • Identify the various institutions that influence accounting
  • Identify and analyse the common items in a financial statement
  • Record transactions
  • Explain how accountants measure profit
  • Prepare financial statement

Students from any background pursuing graduate/post graduate, executives and people who want to learn basics of accounting and financial statements.