Accounting Course Bundle (40 Courses, includes IFRS & US GAAP)

Objectives

The course is aimed to provide the learners with essential concepts of accounting domains such as financial accounting, accounting standards, cost accounting, and other relevant concepts. At the end of the course, learners will be well equipped with knowledge regarding important accounting concepts.

Course Highlights

Below is a peek of what all will be covered in the course.

The training will commence with a lecture on the introduction to financial accounting.

A session will be run to explain concepts relating to income statements such as fiscal year and calendar year, the format of the income statement, profit margin calculations, non-recurring items, changes in accounting estimates, and methods of revenue recognition.

An understanding will be developed on the preparation of balance sheet and its various components such as current assets, current liabilities long-term assets, long-term liabilities, and shareholder’s equity.

Learners will also gain knowledge about the preparation of cash flow statements using direct and indirect methods, along with practical examples.

As a next step, learners will be explained with the concept of goodwill calculation, future maintainable profits, and treatment of goodwill as per IFRS.

We will also understand the applicability of the purchase method and pooling method for accounting in case of business combinations such as a merger.

An understanding will be developed about accounting for bonds and the concept of present value for bonds.

A separate session will be there to deal with accounting relating to branches. Concepts such as branch accounting, independent branch, and the foreign branch will be covered.

As a next milestone, learners will be acquainted with the concept of related parties. Topics that will be discussed include related party transactions, disclosure requirements as per IAS 24 and Indian Companies Act, arms-length transaction, and role of the audit committee.

Regarding foreign currency translation, you will learn about its accounting treatment, forward contract, and exchange rate, hedging, and requirements as per US GAAP.

Accounting for deferred tax will also be covered to understand profit calculation, deferred tax assets, valuation allowance, and revalued assets.

Training will also take you through lease accounting and classification of leases.

The concept of special purpose entity will be covered to understand its features, structure, purpose, types, pros, and cons as well as accounting guidelines.

The overview will also be provided about business combinations and its various concepts such as its identification, acquisition method, treatment of intangible assets, income tax implications, and so on.

The lecture will be covered on LLPs, its formation, importance, and comparison with LLCs.

Training will also be provided for accounting for changes in ownership interest. We will understand situations in which parent’s ownership interest changes.

Next, the introduction will be provided on cost accounting.

We will have a look on the cost sheet and its components, along with other concepts such as job costing and batch costing.

Learners will understand the process of cost allocation.

We will gain knowledge about decision making using marginal costing, opportunity cost, and types of costs.

A separate lecture will be there to deal with concepts of process costing and the treatment of joint products and by-products.

One will also learn about essential concepts of management accounting such as inventory types, EOQ, quantity discounts, break-even analysis, and so on.

A tutorial will be covered to understand the applicability of various IFRS.

Next will be an important session about various ASCs dealing with investments, GAAP history, and hierarchy, presentation of financial statements, income statement, statement of cash flow, revenue recognition, financial instruments, inventory, liabilities, not-for-profit entities, PPE and consolidation.

We will understand accounting for the securities lending market.

We will also gain insight into accounting for repo transactions.

Accounting for derivatives in hedge funds will be explained in the next step.

At last, we will gain an overview of the applicability of US GAAP.