About the Course
Practical Accounting for B.Com / BBA - Level 1 course aims to equip aspiring accountants with a good grasp of Key Accounting concepts and the Accounting process up to the preparation of the Trial Balance.
The course helps the students to imbibe very sound conceptual understanding of the topics covered. The unique practical drills offered in the programme enhance the students’ learning by using simulations of the steps involved in the accounting process.
As the course progresses the students are introduced to real documents of the industry so that they can apply what they learn, thus making them industry ready.
The course is aimed at building a solid base in Accounting for students, with a clear focus on equipping them with strong fundamentals and a clear understanding of the accounting steps involved in transaction processing.
The Level 1 course would be very useful even to class XI and XII commerce students, and will help them build a solid foundation before embarking on their B.Com, BBM or Professional courses.
A certificate will be awarded at the end of the course.
- Accounting System Overview
- Introduction to the Accounting Sytem
- Forms of Business Organisation
- Key features of a SoleProprietorship, Partnership & a Company form of organisation
- Introduction to the Basic Accounting Concepts
- Forms of Business Activities
- Basic Accounting Concepts
- Accounting Equation
- Introduction to the Accounting Equation
- Components of the Accounting Equation
- Understanding how the Balance Sheet represents the Accounting Equation
- Understanding the Equity Component of the Accounting Equation
- Debit - Credit Rules
- Debit/Credit Rules
- Grouping of Accounts
- Introduction to Grouping
- Grouping of the Balance Sheet Accounts
- Grouping of the P&L Statement Accounts
- Journal Entries
- Introduction to Journal Entries
- Recording Journal Entries
- Recording Journal Entries based on the Accrual Concept
- Recording Journal Entries based on ‘Real –life’ documents
- T account to Trial Balance
- Journey of an account from an entry to the Trial Balance
- Posting journal entries to the ledger accounts
- Preparation of the Trial Balance
- Accounting Principles & Conventions
- Accounting Concepts
- Accounting Conventions
- Accounting Error Rectification
- Types of Errors
- Errors disclosed and not disclosed by the Trial Balance
- Suspense Account