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Introduction to Accounting Standards and Principles

Free online course on accounting standards, accounting principles, profit and loss accounts, and balance sheets.

Publisher: NPTEL
This free online course introduces you to Accounting Standards and Principles. Learn about the importance of these principles and standards in terms of how they allow companies to communicate with each other & compare financial statements. The course will also highlight the financial statements of two Indian companies and prepare a profit and loss accounts, as well as as a balance sheet. Start this course today and learn more about accounting.
Introduction to Accounting Standards and Principles
  • Duration

    10-15 Hours
  • Students

    464
  • Accreditation

    CPD

Description

Modules

Outcome

Certification

View course modules

Description

This free online course on accounting standards and principles will begin by introducing you to the definition of accounting principles and standards. You will learn about how accounting principles communicate results, as well as how accounting standards provide frameworks and standard accounting policies. You will then learn about the evolution of accounting and how to record financial statements in an organization.

This course will present you with three years’ worth of company information and financial statements of Zee TV, an entertainment television company in India. You will learn how to prepare a profit and loss account from the financial statements. You will learn how to compare the results over the three years and see how trends change. You will also learn how to prepare a balance sheet, as well as how profit and loss are calculated by subtracting expenses from income.

Lastly, this course will introduce you to Hindalco limited, which is one of the world largest aluminium rolling companies and one of the biggest producers of primary aluminium in Asia. You will learn about its annual turnover and the number of employees it has. You will learn how to prepare a profit and loss account from the information given. You will also learn how to prepare a balance sheet for Hindalco limited. Start this course today and improve your knowledge of accounting standards and principles.

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