Accounting Concepts for Non Finance Professionals - Level 1

Learning Basic Accounting Concepts from primary Journal entry to Balance Sheet without the use of any Confusing Jargons
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  • Lectures 10
  • Length 1 hour
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 6/2014 English

Course Description

This course introduces you the Basic Accounting Concepts from scratch without the use of any confusing jargons whatsoever. It starts off with a simple transaction and its corresponding primary accounting entry. The course then moves on to sections showing the way the transactions are recorded in further accounting statements up to the Final Statement.This module is meant to give the first round exposure to Accounts and would be followed up with later course modules to introduce the intricacies of Accounts absolutely required for any person in a simple innovative manner.

What are the requirements?

  • No prior knowledge required. This course is meant for any one from any background and has been designed with the assumption that the participant has no exposure to Accounting Basics. The course follows a simple common sense method of explaining the concepts without the use of any jargons at all. The purpose is to show that Accounting methodology is very logical and uses just the elementary arithmetical operations of addition and subtraction only.

What am I going to get from this course?

  • A person may be involved in any profession, viz., Doctors, Lawyers, Teachers, Sportspersons, Actors, Architects etc. The money earned by the person has to be managed and deployed effectively for a comfortable later life. The basic knowledge of accounts would help in understanding and evaluating one’s financial condition, take care of statutory requirements and efficient fund management.

What is the target audience?

  • Anyone who feels they need to manage their money and feel the necessity to possess the knowledge for doing so.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction to Edxtraa
01:06

Introduction

Section 2: Necessity for Basic Accounting Concepts
Introduction to the Accounting Entry for your First Transaction
Preview
06:18
Section 3: Some more transactions , their entry & posting
03:29
  • Some more transactions which affect our day-to-day Accounts are introduced and their corresponding entries are shown.
  • The transactions are posted into box formats , Accounting Entity-wise
03:29

•Review of Transaction Entry

•Review of their respective posting in the Box Format

  • Introduction to the concept of Arthmetical Equivalence of the Left hand side & Right Hand Side ( main feature of Double Entry System of Recording of Accounts)
Section 4: Concept of Finding the Net Effect on Each Accounting Head
04:57

•Concept of Finding the Net Effect on Each Accounting Head

•Tallying of the Totals of the Net Effect for the Accounting Entities showing another dimension of Arithmetical Equivalence.

•Demonstration of the Logical & Robotical Process of Posting of Transaction from the Basic Accounting Entry.

07:42

•Review of the Previous Sessions

•Concept of Receiver of Benefit & Generator of Benefit and Demonstration of the fact that Total Receipt Value of Benefit = Total Generated Value of Benefit

•Preparation of the statement of Balances and checking of Arithmetical Accuracy of Posting again.

09:07
  • Introduction of one more transaction involving a new Account Head.
  • Showing the changes in the Statements because of the new transaction.

  • Checking the Arithmetical Equivalence after Posting the New Transaction.

Section 5: Classification of Accounting Entities in to FOUR Categories
05:42

•Classification of Accounting Entities in to FOUR Categories based on their nature.

•Differentiation between a Liability Receipt and an Income Receipt.

•Concept of an Asset Account or the Property of the Enterprise.

08:17

•Introduction to the concept of an Accounting Period to judge the performance of the Operations.

•Accounting Categories whose performance is judged on the basis of an Accounting Period.

•Re-arranging of the Accounting Heads in the Box Format.

•Clubbing of Income & Expense categories of Account Heads in to a consolidated Operation Box.

•Performance Monitoring by checking the Net Effect of the Operation Box.

Review of the Posting of Transaction into Various Statements.
06:56
2 questions

Helps you in identifying the appropriate categories

4 questions

Helps you to identify the side where the corresponding Accounting Head would get affected..

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Instructor Biography

Edxtraa Education, Training Solutions

N.Ramakrishnan

Passionate Trainer and an Enthusiastic Learner with widespread interests.

The Presenter is a professionally qualified Cost Accountant from the Institute of Cost Accountants of India. He is basically from the Science background at the High School stage and had done his graduation with Mathematics, Statistics and Economics as his subjects from the St. Xavier’s College, Kolkata, India.

He started his career way back 1984 as a software developer and an implementer of a Financial Accounting Software, where his association with Real Life Accounts started. He also worked with Wipro, a leading Computer Multinational Corporation before embarking on his own entrepreneurial journey. His first enterprise started along with an associate is a leading Computer and Educational organization operating in Eastern India. His next venture has resulted in a Computer Maintenance and Support set up which is providing Information Technology support to its clients in the Eastern Region of India.

He then worked for sometime in developing training programme on Thinking Skills using tools and techniques propagated by world renowned thinker and author, Dr. Edward De Bono who is credited with the coining the term “Lateral Thinking”.

His passion for teaching and his nature for out of the box thinking has resulted in forming of Edxtraa Learning Solutions along with dedicated associates with similar mindset and passion. The endeavor is to develop educational videos,tools & programs to make learning an interesting and rewarding exercise. Happy Learning ….

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