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Making business sense of Accountancy
76 students

Making business sense of Accountancy

I have seen that most of the business management students, not pursuing Finance specialization are averse to mastering b
Created byMaruharish
Last updated 7/2014
English

Course content

3 sections • 29 lectures • 1h 20m total length

  • Understanding accounting of Cash outflows / payments.0:39
    2010-05-15
  • The difference between expenditutre on birthday party and motor cycle1:22
    The difference is duration of satisfaction - In case of birthday party the satisfaction is short lived while in case of motor cycle it is long lived.In business we spend money for either short term satisfaction or long term satisfaction. In accountancy both types of payments are summerised in diffre…
  • Lecture 3 -Why long term satisfaction payment decisions are difficult in business and taken at top levels?2:45
    We have
  • Cash Payments - neither long term or short term satisfaction- accomodating another party16:35
    In this session we look at cash payments to accomodate another party.You want to buy motor cycle. Dealer asks for booking advance. Motor cycle will be delivered after one week.You have not started enjoying long term satisfaction but have made a cash payment.This type of payment is third catagory of…
  • Cash receipts - understanding different categories of cash receipts16:56
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  • Cash receipts - understanding different categories of cash receipts - continued1:48
    In lecture no. 5 we noted that cash will be available for business either by way of 'owner's capital' or 'borrowed capital' we noted the difference in nature of both types of cash receipts. Two more types of cash receipts are: Selling on cash basis We can sell on credit basis too, but in that case w…
  • Cash Box Cmap1:00

    I have summerised all types of CASH RECEIPTS AND PAYMENTS in a presentation. In accounting each transaction are recorded fithfully needs to zipped in two statements. These statements are known as FINAL ACCOUNTING STATEMENTS.

  • Business sense of financial statements - PROFIT & LOSS ACCOUNT AND BALANCE SHEET -PART 11:12
    Every business wants to have good profits. Reasons are many: Increase dividend amount - this takes cash out of business Boost share price / company valuation Spend lavishly on business in buying assets, expanding markets mindlessly, Become over confident and become over adventurous. So it is very te…
  • Credit transactions1:00
    Business is done through cash /credit. credit transaction has two parts - business transactions when we sell or buy on credit and settlement transaction when we later on receive or pay. Better to have business terms whereby we collect earlier than settling credit supplier.We then are using the cash that belongs to credit supplier. In reverse case our cash is used by the suppliers.
  • When profit is (real ) profit1:01
    We understood profit / earnings results when Sales / revenue (cash and credit based) is more than cash and credit based short duration satisfaction (expenses). Sales – operating expenses = profit for the year.  It is clear thus that profit/earnings are blend of cash and credit. If the credit compone…
  • Stocks on hand impact on real profit3:55
    Stocks on hand impact on real profit We discuss how materials purchased but not consumed at the end of Accounting Period – monthly, quarterly, yearly - in product sold can over / under state profit. Every business has two dimensions – physical and financial. Stores, work sheds, warehouses etc. are p…
  • Profit a plenty, but cash starved or (water, water everywhere bur not a drop to drink)4:04
    Profit a plenty, but cash starved or (water, water everywhere bur not a drop to drink) A reference was made cash and credit profit in earlier lecture. We take that point forward. Illustration 1 Sold product valued 1,000 for cash – money jingled in cash box Materials used and other expenses paid for…
  • A pause and look back before next section0:48

Description

I have seen that most of the business management students, not pursuing Finance specialization are averse to mastering basics of accountancy.

They find the technicalities of recording in double entry, preparing financial records and statements a specialized task for accountants. They are making mistake because Accountancy is back office of business. They can understand what is happening and why it is so in business only by having through grasp of how accountancy processes financial date to present business snap shot.

Only those executives who grasp back office of business - Accountancy - will be successful business leaders.

This course will demystify accountancy and make it very lively resulting in deeper understanding of business.

In the end, it is profit making ability that counts for success in every type of business career and who but 'Accountancy' determines the 'Profit'

So through this course I invite all business management students and executives not specializing in 'Finance' to fill the gap in their business DNA and get rid of handicap.

Harish Maru
15th May 2010

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