Introduction to Accounting
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.
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
• Year-end procedures
By the end of this course, learners 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.
“I really enjoyed the course and I am glad that I completed the course. I would recommend this course for anyone wanting to study an introduction to business accounting for whatever reason. I found the five-week format and pace of the course just right. Each weekly topic builds nicely on the previous topic.
- My main tip is to make the effort to the finish the graded assessments each week (before the start of the next topic).
- Second tip is that if you find something difficult to grasp, take a break and then repeat the tutorial. Note that week’s 3 to 5 need much more study time than week 1 and 2.
- A third tip would be to consider investing in the textbook written by the course presenter.” – Randal Bostock
” Course content is good and it introduces you to the world of accounting. Instructor sessions are very useful.Quizzes really test how well you understand the subject and they are tough for a person from non-finance background. Looking forward to the next session.” – Bharath Kumar