Admission Open

Financial Accounting Course in Mianwali

Module 1: Introduction to Financial Accounting

Overview of Financial Accounting

Definition and purpose of financial accounting
The accounting cycle
Users of financial accounting information
Basic Accounting Concepts

The accounting equation
Double-entry bookkeeping
Principles and assumptions of accounting (GAAP, IFRS)
Financial Statements

Balance sheet
Income statement
Statement of cash flows
Lab Activities

Analyzing real-world financial statements
Understanding the accounting equation through examples
Creating basic financial statements from transactions
Module 2: Recording Financial Transactions

The Accounting System

Chart of accounts
Journals and ledgers
T-accounts and posting
Recording Transactions

Analyzing business transactions
Journal entries and posting to ledgers
Trial balance preparation
Adjusting Entries

Accruals and deferrals
Adjusting entries for revenues and expenses
Preparing adjusted trial balance
Lab Activities

Recording transactions in journals
Posting journal entries to ledgers
Preparing trial balances and adjusting entries
Module 3: Preparing Financial Statements

Income Statement

Revenue recognition principles
Expense recognition and matching principle
Calculating net income or loss
Balance Sheet

Classifying assets, liabilities, and equity
Current vs. non-current items
Understanding and calculating retained earnings
Statement of Cash Flows

Operating, investing, and financing activities
Direct and indirect methods
Analyzing cash flow statements
Lab Activities

Preparing income statements from trial balances
Creating balance sheets
Constructing statements of cash flows
Module 4: Accounting for Assets

Cash and Receivables

Managing cash and bank reconciliations
Accounting for accounts receivable
Allowance method for uncollectible accounts
Inventory Accounting

Inventory valuation methods (FIFO, LIFO, weighted average)
Periodic vs. perpetual inventory systems
Inventory management and control
Property, Plant, and Equipment (PP&E)

Capitalizing vs. expensing costs
Depreciation methods (straight-line, declining balance, units of production)
Disposal of assets
Lab Activities

Reconciling bank statements
Valuing inventory using different methods
Calculating and recording depreciation
Module 5: Accounting for Liabilities

Current Liabilities

Accounts payable and accrued liabilities
Notes payable and interest calculations
Contingent liabilities
Long-term Liabilities

Bonds payable and amortization
Long-term loans and mortgages
Lease accounting
Equity Transactions

Issuing and repurchasing shares
Dividends: cash and stock
Retained earnings and equity analysis
Lab Activities

Recording transactions for current liabilities
Accounting for bonds and long-term debt
Recording equity transactions
Module 6: Financial Statement Analysis

Ratio Analysis

Liquidity ratios (current ratio, quick ratio)
Solvency ratios (debt to equity, interest coverage)
Profitability ratios (gross margin, return on assets)
Trend Analysis

Horizontal analysis (trend analysis)
Vertical analysis (common-size statements)
Using financial ratios and trends to assess performance
Comparative Analysis

Benchmarking against industry standards
Analyzing competitors’ financial statements
Interpreting financial health and stability
Lab Activities

Calculating financial ratios
Performing horizontal and vertical analysis
Comparative analysis using real-world financial statements
Module 7: Ethics and Professionalism in Accounting

Ethical Standards in Accounting

Importance of ethics in accounting
Code of conduct for accountants
Consequences of unethical behavior
Professional Judgment

Applying professional judgment in accounting
Identifying and resolving ethical dilemmas
Maintaining objectivity and integrity
Regulatory Environment

Overview of regulatory bodies (SEC, FASB, IASB)
Sarbanes-Oxley Act and its implications
International accounting standards (IFRS vs. GAAP)
Lab Activities

Case studies on ethical dilemmas in accounting
Analyzing the impact of regulations on financial reporting
Discussions on maintaining professionalism in accounting
Module 8: Capstone Project and Review

Capstone Project Planning

Selecting a project topic related to financial accounting
Defining project objectives and scope
Developing a project plan and timeline
Project Implementation

Conducting research and analysis
Preparing financial statements and reports
Applying accounting principles and techniques
Final Presentation and Review

Presenting the capstone project findings
Discussing key insights and learnings
Reflecting on the course experience
Review and Future Directions

Reviewing key concepts from the course
Identifying areas for further study and professional development
Planning for career advancement in accounting
Lab Activities

Working on the capstone project
Preparing and practicing the final presentation
Reviewing course materials and reflecting on learning

Admission Open for this course 
Contact Number: 03307615544

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