About the Course

The Practical Accounting for B.Com / BBA - Level 2 course aims to equip aspiring accountants and finance professionals with a good grasp of Key Accounting concepts, right up the preparation of Financial Statements and their first level analysis . The B.Com and BBA programs offered by most universities cover a large number of Finance Topics – but most of them only at a surface level, with inadequate depth. Consequently, most of these students come across as unemployable, even for entry level accounting and commercial jobs.

The SoundBasics course Practical Accounting for B.Com/BBA - Level 2 can be pursued only by those students who have completed the Level 1 course. This course is aimed at building a solid base in Accounting, with a clear focus on equipping the students with industry relevant knowledge in Accounting & Controls.

The course lays a lot of stress on the fundamentals, before moving on to cover advanced topics like the preparation of Financial Statements and their first level analysis. The course contains the unique Event Handling Drills that helps the student to do a 360 degree transaction processing of any business event. It helps the student to develop an eye for detail and takes him/her as close as possible to a real life situation.
A certificate will be awarded at the end of the course.

How can the Practical Accounting for B.Com / BBA - Level 2 benefit B.Com / BBA candidates?

Course Content

  • Understanding Adjusting Entries and the Closing Process
  • Preparation of the P&L Statement & Balance Sheet
  • Valuation of Inventory
  • Preparation of the P&L Statement & Balance Sheet
  • Understanding Cost vs Expense
  • Components of Manufacturing Costs
  • Significance of Direct & Indirect Costs and Overheads on the P/L Statement
  • Meaning of Fixed vs Variable Costs
  • Understanding the impact of fixed and variable costs on the P/L Statement
  • Meaning of Capital & Revenue Expenditure
  • Understanding the impact of Capital & Revenue Expenditure on the P/L Statement
  • Know the Importance and Need of Bank Reconciliation Statement.
  • Understand the Causes for Disagreement between our books and the bank statement/book balances.
  • Prepare Bank Reconciliation Statement.
  • Gross Profit Ratio
  • Net Profit Ratio
  • Return on Capital Employed
  • Earnings Per Share
  • Liquidity & Solvency Ratios
  • Current Ratio
  • Quick Ratio
  • Debt Equity Ratio
  • Interest Coverage Ratio
  • Need and Purpose of a Cashflow statement
  • Preparation of a Cashflow statement
  • Introduction to the Purchase Process
  • Ordering / Receiving
  • Vendor Payments
  • Purchase Returns
  • Receipt of Customer Orders
  • Order Execution, Invoicing & Collection
  • Sales Returns
  • Recording the Transaction
  • Identify P/L Impact
  • Identify Cashflow Impact
  • Identify Control Concerns
  • Identify Compliance Concerns