Accounting Standards Basics (Professional Course Level)

Learn why accounting standards are required for financial reporting
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  • Lectures 12
  • Contents Video: 32 mins
    Other: 8 mins
  • Skill Level All Levels
  • 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 2/2015 English

Course Description

Welcome to the course on Accounting Standards Basics .

This course is going to take you through the

-concept,

-objectives,

-benefits,

-limitations

of Accounting Standards.

So why at all Accounting Standards are required?

Accounting standards are necessary so that financial statements are meaningful across a wide variety of businesses; otherwise, the accounting rules of different companies would make comparative analysis almost impossible.

Accounting Standards reduces the scope for creative accounting. The creative accounting refers to twisting of accounting policies to produce financial statements favourable to a particular interest group.

Accounting Standards aim at improving the quality of financial reporting by promoting comparability, consistency and transparency, in the interests of users of financial statements.

With the emergence of trans-national corporations in search of money, not only for growth but also to sustain activities has necessitated raising of capital from all parts of the world. Hence, countries across the world are going towards single set of accounting standards in the interest of public. Global standards will facilitate cross border flow of money, global listing and comparability of financial statements.

This course may use technical terms related with accounting. Hence, the learner must have basic knowledge of accounting and financial statements.

This course is structured in self paced learning style.

Take this course to understand the basics of accounting standards.

What are the requirements?

  • Basics of Accounting
  • Fair knowledge of Financial Statements

What am I going to get from this course?

  • Understand why accounting standards are required
  • Understand benefits and limitations of Accounting Standards
  • Recognize International Accounting Standard Authorities
  • Appreciate adoption of International Financial Reporting Standards as Global Standards

What is the target audience?

  • Accounting / Finance / Auditing Students
  • M.Com., MBA(Finance) Students
  • Accounting / Finance Professionals
  • Not suitable if you have no linkage with Accounting

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
Introduction
Preview
05:01
Accounting Standards Coverage
Preview
03:00
What Accounting Standards does
Preview
03:32
Benefits of Accounting Standards
04:15
Limitations of setting Accounting Standards
01:18
Section 2: Accounting Standards and Global Standards
Convergence towards Global Accounting Standards
05:35
International Accounting Standards Board
02:33
IFRS as Global Standards
02:00
Status of Accounting Standards
01:44
Enterprises to which AS Apply
01:49
Financial Items and Accounting Standards
01:19
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

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Instructor Biography

I am a practicing Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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