Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business. This involves the preparation of financial statements available for public consumption. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes. While financial accounting is used to prepare accounting information for people outside the organization or not involved in the day-to-day running of the company.
Systematic recording of transactions: basic objective of accounting is to systematically record the financial aspects of business transactions (i.e. book-keeping). These recorded transactions are later on classified and summarized logically for the preparation of financial statements and for their analysis and interpretation.
Ascertainment of result of above recorded transactions: accountant prepares profit and loss account to know the result of business operations for a particular period of time. If expenses exceed revenue then it is said that the business is running under loss. The profit and loss account helps the management and different stakeholders in taking rational decisions
Ascertainment of the financial position of business: businessman is not only interested in knowing the result of the business in terms of profits or loss for a particular period but is also anxious to know that what he owes (liability) to the outsiders and what he owns (assets) on a certain date. To know this, accountant prepares a financial position statement of assets and liabilities of the business at a particular point of time and helps in ascertaining the financial health of the business.
After compeltion of this course, student is rewarded with certificaion (ISO 9001: 2008 certifed), which helps them to get appropriate job in the respective field. We assist all of our students to find their dream jobs in govt and private sectors.
Course Duration: 2 Months
Qualification Rquirement: 10+2 Minimum with Commerce / B.Com / BBA / M.Com / MBA
Job Scope: Accountant, Trainers