Financial Accounting

New York Institute of Finance

ITEM AATX0141

Self Paced Course

Available Now
Online

$250.00

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Online (Self-paced)

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21.5 Hours

language

English

school

Introductory

Virtual Series Course

Available Now
Virtual (Part-Time)

$250.00

video_library

Online (Self-paced)

update

21.5 Hours

language

English

school

Introductory


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17

Financial Accounting

This course is no longer being offered. It has been replaced with the following:

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Duration : 1.5 hours

  • Meaning, Functions and Sub fields of Accounting
  • Accounting Cycle
  • Accounting Principles Concepts & Conventions
  • Accounting Equation
  • Types of Accounts
  • Rules of Debit & Credit

Duration : 1 hour

  • Analyzing transactions
  • Recording transactions
  • Posting to ledger
  • Balancing the accounts
  • Preparing Trial Balance

Duration : 1 hour

  • Rectifying the erroneous entries
  • Journalizing adjustment entries
  • Preparing Adjusted Trial Balance
  • Passing the closing or transfer entries
  • Preparing financial statements

Duration : 2 hours

  • Importance of analyzing financial statements
  • Techniques of analyzing financial statements
  • Ratio analysis
  • Categorization of ratios
  • Users of financial information and ratios of their interest
  • Balance sheet ratios – Liquidity, Solvency, and Structure ratios
  • Income statement ratios – Profitability, Expense, and Leverage ratios
  • Combined ratios – Turnover, Coverage, and Market Sensitivity ratios

Duration : 2.5 hours

  • Advanced Ratio analysis
  • Income statement ratios – Profitability ratios, Expense ratios
  • Combined ratios – Turnover ratios, Market sensitivity ratios
  • Limitations of ratio analysis

Duration : 1 hour

  • What is Reconciliation?
  • Reasons for reconciling the books
  • Procedure or steps for reconciliation

Duration : 1 hour

  • Petty cash and its purpose
  • Writing petty cash book
  • Types of petty cash book
  • Control over petty cash

Duration : 1 hour

  • The basics of inventory
  • Inventory accounting systems
  • Inventory valuation methods
  • Accounting for inventory
  • Inventory and its impact on financial statements

Duration : 1 hour

  • The impact of expensing or capitalizing decision on the firm's financial statements and ratios
  • The treatment for intangible assets regarding capitalizing or expensing the costs
  • The circumstances when intangible assets are capitalized

Duration : 1.5 hours

  • The basic concepts of depreciation
  • The methods of depreciation
  • Accounting for depreciation
  • Depreciation and its impact on cash flow and income tax

Duration : 1 hour

  • Debt issuance (in particular zero coupon bond)/amortization effects on financial statements and financial ratios
  • The effect of issuance of a debt with equity features on financial statements and ratios
  • Insight into various disclosures related to financing liabilities
  • The effect of changing interest rates on the market value of debt
  • The effect of changing interest rates on financial statements and ratios
  • The concept of retiring debt and debt covenants from various perspectives

Duration : 1 hour

  • Differentiate between operating and financial leases
  • Understand the impact of lease financing on accounting system of a concern and its ratios
  • Lease accounting calculations
  • Various other forms of offbalancesheet financing like sales receivables and takeorpay contracts.

Duration : 1 hour

  • Accounting policies adopted by a company (such as method of depreciation, valuation of inventories etc.) influences the financial statements and thereby the pretax income and the income tax payable.
  • When the tax reporting and financial reporting differs, it leads to differences in income and deferred tax liabilities.

Duration : 2 hours

  • The role of financial reporting standardsetting bodies worldwide
  • International Financial Reporting Standards (IFRS) framework
  • International Accounting Standards Board
  • The movement towards worldwide convergence of financial reporting standards
  • IFRS is compared with other alternative reporting systems
  • The importance of monitoring developments in financial reporting standards.

Duration : 2 hours

  • Comparison of the major international accounting standards with U.S. GAAP with respect to major revenue and expense categories on the income statement
  • The major differences between international and U.S. GAAP accounting standards concerning the treatment of interest and dividends on the cash flow statement.
  • The effect of differences between international and U.S. GAAP accounting standards on some commonly used financial ratios.

Duration : 1 hour

  • Measurement Tools
  • Disclosures
  • Case Study