Course description
The Diploma in Financial Accounting is a free online course that begins by introducing you to the streams of accounting, as well as the concept of financial statements and the basic structure of a balance sheet. The course will also introduce you to the major components of a profit and loss account, as well as the concept of conservatism and depreciation. Cash flow statement as the summary of cash flows (receipts and payments) during an accounting period will also be covered in this course.
The course then explains corporate governance as a collection of mechanisms, processes and relationships by which a company is controlled and managed. You will learn about the main principles of corporate governance, as well as how Enron failed using proper corporate governance. This course will teach you about accounting standards and principles, as well as the evolution of accounting and how to record financial transactions.
Furthermore, this course will help you get familiar with the interpretation and analysis of financial statements, as well as introduce you to the concept of ratio analysis. You will learn about the ratio and financial statement analysis for TCS. This free online course will be of great interest to students, researchers, and anyone with an interest in financial accounting and preparing financial statements. So, register for this course and start your next learning journey today.
Upcoming start dates
Training content
Introduction to Accounting and Financial Statements
Description: In this module, you will be introduced to financial accounting and the three streams of accounting. You will learn about financial statements, the different formats of the balance sheet as well as the basic structure of a balance sheet. You will also learn about the types of assets and the equation for calculating assets and owners fund.
- Learning Outcomes
- Introduction and Scope of Accounting
- Financial Statements
- Formats of Balance Sheet
- Detailed Format and Elements of Balance Sheet
- Basic Structure of a Balance Sheet
- Types of Assets
- Balance Sheet Elements and Equation
- Lesson Summary
Profit and Loss Account
Description: In this module, you will be introduced to the profit and loss account. You will learn about the major components of a profit and loss account which are income and expenses. You will learn about the basic structure of the profit and loss account as well as how to calculate it. You will then be introduced to the concept of conservatism and depreciation, the methods of depreciation as well as inventory valuation.
- Learning Outcomes
- Format of Profit and Loss Account
- Basic Structure of Profit and Loss Account
- Elements of Profit and Loss Account
- Concept of Conservatism and Depreciation
- Methods of Providing Depreciation
- Inventory Valuation
- Lesson Summary
Cash Flow Statement
Description: In this module, you will be introduced to the cash flow statement as the summary of cash flows (receipts and payments) during an accounting period. You will learn about the different types of cash flow statements, cash and cash equivalents and financial activities. You will then be introduced to operating activities by the direct method as well as how to prepare a cash flow statement.
- Learning Outcomes
- Definition and Types of Cash Flow
- Categories of Cash Flow Statement
- Operating Activities by Direct Method
- Preparation of Cash Flow Statement
- Example of Cash Flow Statement
- Lesson Summary
Corporate Governance
Description: In this module, you will be introduced to corporate governance as the collection of mechanisms, processes and relationships by which a company is controlled and managed. You will learn about the main principles of corporate governance which are: Transparency, Accountability, Trusteeship and Ethics. You will learn about the three models of corporate governance as well as Enron’s failure of having proper corporate governance.
- Learning Outcomes
- Corporate Governance
- Corporate Governance: Global Models
- Corporate Governance: Enron Case
- Lesson Summary
Diploma in Financial Accounting - First Assessment
Description: You need to score 80% or more to pass.
- Assessment: Diploma in Financial Accounting - First Assessment
Introduction to Accounting Standards and Principles
Description: In this module, you will be introduced to accounting standards and principles. Accounting principle refers to the communication of results of the business to the outside world. You will learn about accounting concepts such as business entity, dual aspect, cost, and consistency. You will learn about the evolution of accounting as well as how to record financial transactions.
- Learning Outcomes
- Accounting Standards and Principles
- Evolution of Accounting
- Recording of Financial Transactions
- Lesson Summary
Case Study: Zee TV and Hindalco
Description: In this module, you will be introduced to Zee TV, an entertainment television company as well as Hindalco limited, a leading aluminum and copper manufacturer. You will be presented with both company’s financial statements and you will learn how to prepare a profit and loss account from it as well as as a balance sheet.
- Learning Outcomes
- Zee Case: Profit and Loss Account
- Zee Case: Balance Sheet Statement
- Hindalco Case: Profit and Loss Account
- Hindalco Case: Balance Sheet and Cash Flow Statement
- Lesson Summary
Ratio Analysis and Return on Equity
Description: In this module, you will be introduced to the Interpretation and Analysis of Financial Statements. You will learn about ratio and ratio analysis, as well as the different types of ratios. You will also be introduced to horizontal analysis, common-size statements, trend analysis, as well as return on equity.
- Learning Outcomes
- Interpretation and Analysis of Financial Statements
- Ratio and Ratio Analysis
- Types of Ratio
- Horizontal Analysis for Shipping Corp of India
- Common Size Statement for Shipping Corp of India
- Trend Analysis for Shipping Corp of India
- Calculating Return on Equity for Shipping Corp of India
- Lesson Summary
Ratio and Financial Statement Analysis
Description: In this module, you will be introduced to ratio and financial statement analysis for TCS. You will learn about different types of combined ratios and their equations. You will also learn about company analysis as well as ratio and financial statement analysis using RIL company data.
- Learning Outcomes
- Ratio and Financial Statement Analysis for TCS
- Combined Ratio Analysis for TCS
- Company Analysis Using RIL Company Data
- Ratio and Financial Statement Analysis Using RIL Company Data
- Revision of Course
- Lesson Summary
Diploma in Financial Accounting - Second Assessment
Description: You need to score 80% or more to pass.
- Assessment: Diploma in Financial Accounting - Second Assessment
Course assessment
- Assessment: Diploma in Financial Accounting - Course Assessment
Certification / Credits
By the end of this course, you will be able to:
- Explain the difference between tangible and intangible assets
- Outline the equation for assets and owners fund
- List the elements of the profit and loss account
- List the three qualitative characteristics of conservatism
- Explain the importance of a cash flow statement to investors
- Describe the meaning of the term corporate governance
- Explain what is meant by a Minimum Alternate Tax
- Identify the formula for calculating profit and loss
- Define Appropriation of Profit in accounting
- Explain what is meant by market capitalization in accounting
- Explain the importance of an income statement
- Explain the two major financial statement analyses
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