Financial Accounting and Reporting

Accounting, Transactions, Financial statements of companies, Income recognition, Financial reporting, Insurance claims..

3.80 (49 reviews)
Udemy
platform
English
language
Finance Cert & Exam Prep
category
instructor
Financial Accounting and Reporting
7,018
students
74.5 hours
content
May 2021
last update
$49.99
regular price

What you will learn

End-to-end concepts of Financial Accounting & Financial Reporting

Prepare for CA, CFA exams

Gain complete knowledge to work as Financial Advisor/Executive/Accountant

Recording of Transactions

Trial Balance, Bill of Exchange, Depreciation

Bank Reconciliation Statements

Rectification of Errors

Provisions and Reserve

Profits & Dividends

Create or Analyze Financial Statements of Companies

Income Recognition, Classification of Assets and Provisions

Insurance Claims

Internal Reconstruction

Managerial Remuneration

Accounting for not-for-profit Organization

Financial Reporting

Accounting for Bonus Issue and Right Issue Part

Accounting for Share Capital & Accounting Ratios

Amalgamation of Companies

Banking Companies

Accounting for Branches including Foreign Branches

Buy-back of Securities and Equity Shares with Differential Rights

Cash Flow Statements & Consolidated Financial Statements

Corporate Social Responsibility

Departmental Accounts

Accounting for Employee Stock Option Plans

Framework for preparation and presentation of Financial Statements

Hire Purchase and Installment Sale Transactions

Incomplete Records, Insurance Claims

Issue of Debentures

Liquidation of Companies

Non-banking Financial Companies

Accounting for Partnership Firms

Dissolution and Reconstitution of a Partnership Firm

Preparation of Financial Statements of a Bank

Profit or Loss pre and post Incorporation

Redemption of Debentures & Preference Shares

Special Transactions of a Bank

Description

A warm welcome to the Financial Accounting and Reporting course by Uplatz.


Uplatz provides this comprehensive training on Financial Accounting and Reporting.

This Financial Accounting & Financial Reporting course will demonstrate the key accounting concepts and principles to be able to prepare financial statements and unlock critical insights into business performance and potential. You will explore how financial advisors, managers, analysts, and entrepreneurs leverage accounting to drive strategic decision-making. The Financial Accounting course will help you master the functional and technical skills needed to analyze financial statements and disclosures for use in financial analysis, and learn how accounting standards and managerial incentives affect the financial reporting process. By the end of this Financial Accounting & Reporting course, you’ll be able to read the three most common financial statements: the income statement, balance sheet, and statement of cash flows. Then you can apply these skills to real-world industry scenarios.


Financial Accounting is essentially the process of preparing financial statements that organizations use to show their financial performance and position to people outside the company including investors, creditors, suppliers, and customers. Financial reporting can be defined as the standard practices to provide stakeholders a clear depiction of an organization's finances, including their revenue, expenses, profits, capital, and cash flow, as formal records that provide in-depth insights into financial information.

Financial accounting ensures the legal compliance for how businesses track, recognize, and measure revenue, costs, depreciation, intangible assets, goodwill, and the like. Since the investors as well as regulatory bodies want all businesses to be measured on the same grading stick and to have confidence that financial measures can be compared across businesses, hence financial accounting assumes great importance. While the occasional pro-forma statement may be issued, financial accounting is primarily dealing with accounting for historical transactions. Everything must be accounted for and should match on both sides of the accounting ledger.

Financial accounting differs from management accounting, in the sense that financial accounting is for external parties which by contrast management accounting involves preparing detailed reports and forecasts for managers inside the company. In simple words, managerial accounting information is aimed at helping managers within a company while financial accounting is aimed at providing information to external parties.

The basic goals of financial accounting involve analysis, preparation, publication of:

  • Financial statements/accounting/reporting, cash flow analysis

  • Accounting theory/practice/cycle

  • Income/retained earnings statements, balance sheets

  • GAAP, international reporting standards, standards convergence


Financial Reporting simply refers to the financial results of an organization that are released to its stakeholders and to the public. This reporting is a key function of the controller, who may be assisted by the investor relations officer if an organization is publicly held. Financial reporting typically encompasses the following documents and postings:

  • Financial statements, which include the income statement, balance sheet, and statement of cash flows

  • Accompanying footnote disclosures, which include more detail on certain topics, as prescribed by the relevant accounting framework

  • Any financial information that the company chooses to post about itself on its website

  • Annual reports issued to shareholders

  • Any prospectus issued to potential investors concerning the issuance of securities by the organization

Financial reporting utilizes financial statements to disclose financial data that indicates the financial health of a company over during a specific period of time. The information is vital for management to make decisions about the company’s future and provides information to capital providers like creditors and investors about the profitability and financial stability of an organization.

Internal financial reporting is a business practice that involves compiling financial information on a frequent basis for use within the organization. The documents may contain confidential information, such as business indicators or KPIs, financial performance, performance indicators, etc.. These are designed to help those individuals working within the company to make informed decisions. In contrast, the external reporting involves preparing financial information to be distributed to parties outside the organization. Unlike internal reports, external reports do not contain confidential information about the company.

The recipients of the external reports include potential investors, lenders, and creditors who require the reports to evaluate the financial position of the company. The main external financial reports include the income statement, balance sheet, and statement of cash flows.

Financial Accounting & Reporting include key areas of finance & accounting such as debt management, trend identification for decision-making, real time tracking, liabilities position, progress & compliance, cash flows, communication & data access, and more.


Financial Accounting & Reporting - Course Syllabus


  1. Introduction to Financial Accounting and its importance

  2. Introduction to Financial Reporting and its importance

  3. Golden rule of accounting

  4. Recording of transactions

  5. Trial balance

  6. Bank reconciliation statement

  7. Bill of exchange

  8. Depreciation

  9. Rectification of errors

  10. Provisions and reserve

  11. Divisible profit & dividend

  12. Financial statements of companies

  13. Income recognition, classification of assets and provisions

  14. Insurance claims

  15. Internal reconstruction

  16. Managerial remuneration

  17. Accounting for not-for-profit organization

  18. Accounting for bonus issue and right issue part

  19. Accounting for share capital

  20. Accounting ratios

  21. Amalgamation of companies

  22. Banking companies

  23. Accounting for branches including foreign branches

  24. Buy-back of securities and equity shares with differential rights

  25. Cash flow statement

  26. Consolidated financial statements

  27. Corporate social responsibility

  28. Departmental accounts

  29. Accounting for employee stock option plans

  30. Framework for preparation and presentation of financial statements

  31. Hire purchase and installment sale transactions

  32. Incomplete records

  33. Insurance claims

  34. Issue of debentures

  35. Liquidation of companies

  36. Non-banking financial companies

  37. Accounting for partnership basic concepts

  38. Dissolution of partnership firm

  39. Reconstitution of a partnership firm – admission of a partner

  40. Reconstitution of a partnership firm – retirement death of a partner

  41. Preparation of financial statement of bank

  42. Profit or loss pre and post incorporation

  43. Redemption of debenture

  44. Redemption of preference shares

  45. Special transactions of bank

Content

Introduction to Financial Accounting and its importance

Introduction to Financial Accounting and its importance

Introduction to Financial Reporting and its importance

Introduction to Financial Reporting and its importance

Golden Rule of Accounting

Golden Rule of Accounting

Recording of Transactions

Part 1 - Recording of Transactions
Part 2 - Recording of Transactions
Part 3 - Recording of Transactions

Trial Balance

Trial Balance

Bank Reconciliation Statement

Bank Reconciliation Statement

Bill of Exchange

Part 1 - Bill of Exchange
Part 2 - Bill of Exchange

Depreciation

Part 1 - Depreciation
Part 2 - Depreciation
Part 3 - Depreciation

Rectification of Errors

Rectification of Errors

Provisions and Reserve

Provisions and Reserve

Divisible Profit and Dividend

Divisible Profit and Dividend

Financial Statements of Companies

Financial Statements of Companies

Income Recognition, Classification of Assets and Provisions

Part 1 - Income Recognition, Classification of Assets and Provisions
Part 2 - Income Recognition, Classification of Assets and Provisions
Part 3 - Income Recognition, Classification of Assets and Provisions

Insurance Claims

Insurance Claims

Internal Reconstruction

Internal Reconstruction

Managerial Remuneration

Managerial Remuneration

Accounting for Not-for-profit organization

Part 1 - Accounting for Not-for-profit organization
Part 2 - Accounting for Not-for-profit organization

Accounting for Bonus Issue and Right Issue

Accounting for Bonus Issue and Right Issue

Accounting for Share Capital

Part 1 - Accounting for Share Capital
Part 2 - Accounting for Share Capital
Part 3 - Accounting for Share Capital

Accounting Ratios

Part 1 - Accounting Ratios
Part 2 - Accounting Ratios

Amalgamation of Companies

Part 1 - Amalgamation of Companies
Part 2 - Amalgamation of Companies
Amalgamation, Conversion, Sale of Partnership Firms

Banking Companies

Banking Companies

Accounting for Branches including Foreign Branches

Part 1 - Accounting for Branches including Foreign Branches
Part 2 - Accounting for Branches including Foreign Branches
Part 3 - Accounting for Branches including Foreign Branches
Part 4 - Accounting for Branches including Foreign Branches

Buy-back of Securities and Equity Shares with Differential Rights

Buy-back of Securities and Equity Shares with Differential Rights

Cash Flow Statement

Part 1 - Cash Flow Statement
Part 2 - Cash Flow Statement

Consolidated Financial Statements

Part 1 - Consolidated Financial Statements
Part 2 - Consolidated Financial Statements
Part 3 - Consolidated Financial Statements
Part 4 - Consolidated Financial Statements

Corporate Social Responsibility

Part 1 - Corporate Social Responsibility
Part 2 - Corporate Social Responsibility

Departmental Accounts

Departmental Accounts

Accounting for Employee Stock Option Plans

Accounting for Employee Stock Option Plans

Framework for Preparation and Presentation of Financial Statements

Part 1 - Framework for Preparation and Presentation of Financial Statements
Part 2 - Framework for Preparation and Presentation of Financial Statements
Part 3 - Framework for Preparation and Presentation of Financial Statements

Hire Purchase and Installment Sale Transactions

Part 1 - Hire Purchase and Installment Sale Transactions
Part 2 - Hire Purchase and Installment Sale Transactions
Part 3 - Hire Purchase and Installment Sale Transactions

Incomplete Records

Incomplete Records

Investment Accounts

Investment Accounts

Issue of Debentures

Part 1 - Issue of Debentures
Part 2 - Issue of Debentures
Part 3 - Issue of Debentures

Liquidation of Companies

Part 1 - Liquidation of Companies
Part 2 - Liquidation of Companies

Non-Banking Financial Companies

Part 1 - Non-Banking Financial Companies
Part 2 - Non-Banking Financial Companies
Part 3 - Non-Banking Financial Companies

Accounting for Partnership

Part 1 - Accounting for Partnership
Part 2 - Accounting for Partnership

Dissolution of Partnership Firm

Dissolution of Partnership Firm

Reconstitution of a Partnership firm - Admission of a Partner

Part 1 - Reconstitution of a Partnership firm - Admission of a Partner
Part 2 - Reconstitution of a Partnership firm - Admission of a Partner

Reconstitution of a Partnership firm - Retirement Death of a Partner

Part 1 - Reconstitution of a Partnership firm - Retirement Death of a Partner
Part 2 - Reconstitution of a Partnership firm - Retirement Death of a Partner

Preparation of Financial Statement of a Bank

Preparation of Financial Statement of a Bank

Profit or Loss pre and post Incorporation

Profit or Loss pre and post Incorporation

Redemption of Debenture

Redemption of Debenture

Redemption of Preference Shares

Part 1 - Redemption of Preference Shares
Part 2 - Redemption of Preference Shares

Special Transactions of a Bank

Special Transactions of a Bank

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4017878
udemy ID
4/30/2021
course created date
6/1/2021
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