Beruflich Dokumente
Kultur Dokumente
Lecturer:
Faraz Ahmed Quddusi
S
Syllabus
S no Course Outline Number
of
Sessions
1 Introduction to Financial Accounting 2
2 Accruals, Prepaid & Provisions 3
3 Accounting for Long Term Assets 4
4 Principles of Accounting in Partnerships 6
5 Accounting for Capital Stocks 2
6 Corporate Taxes 3
7 Raising Capital via Debt 2
8 Cash Flow Statements 2
9 Analysis of Financial Statements 4
10 Accounting for Services Business 2
What is Accounting
The Accounting System
Assets
• A Resource
• Controlled by the entity
• As a result of Past Events
• From which Economic Benefits are expected
to flow to the Entity
Definition of Each Account Type
Liability
• A Present Obligation
• As a result of Past Events
• Requires a Settlement
• Resulting in Outflow of Economic Benefits
From the Entity
Definition of Each Account Type
Capital / Equity
• Residual Interest
• In the Assets of the Company
• After Deducting all Liabilities
Definition of Each Account Type
Income
Expenses
Payment of Wages
Test your understanding
Payment of Rent
Test your understanding
1. Relevance
• Materiality
• Accruals
2. Faithful Representation
Enhancing the Qualitative
Characteristics
1. Comparability
2. Verifiability
3. Timeliness
4. Understandability
Principles of Accounting
1. Accruals
2. Prudence
3. Economic Entity
4. Cost Principle
5. Consistency Principle
7. Matching Principle
8. Materiality Principle