Universal Institute
Last Update June 20, 2024
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About This Course

“Accounting” encompasses all of a company’s financial transactions based on set policies and procedures for expenses, data management and the generation of financial reports.

Whereas the Financial accounting is the process of recording, summarizing and reporting a company’s business transactions through financial statements. These statements include the income statement, the balance sheet, the cash flow statement and the statement of retained earnings, which are legally required for the registered companies. These statements are typically included in a company’s annual report. These statements allow a company’s management to troubleshoot money issues, and to plan for the future.

The Managers, supervisors and staff from any function including the accounting professionals need to have a clear understanding of the Financial statements, the application and techniques of the language of numbers.

This course is intended for non-accountant professionals to learn the fundamentals of accounting,understand the basics of financial statements,reading and analyzing the financial statements,understand the relationship between accounting & finance and use of debit &credits and have a competitive edge over other professionals in the finance and accounting.This course is also beneficial for University students and Students who have graduated in accounting but lack practical experience.

Learning Objectives

Understand the fundamental principles and concepts of financial accounting, including the accounting equation and the double-entry system.
Learn to record business transactions accurately using accounting journals and ledgers.
Gain proficiency in preparing financial statements, including the balance sheet, income statement, and cash flow statement.
Explore the principles of revenue recognition, expense matching, and asset valuation.
Understand the role of financial accounting in decision-making, performance evaluation, and investor relations.
Familiarize with relevant regulatory frameworks and reporting standards such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).


  • Basic understanding of accounting terminology and principles (recommended but not required).
  • Access to financial accounting software or tools for practical exercises and application of concepts.
  • Willingness to engage in problem-solving activities, case studies, and real-world scenarios to reinforce learning.
  • Optional: Enrollment in financial accounting courses, workshops, or certification programs for structured learning and accreditation.
  • Optional: Membership in professional accounting organizations for access to resources, networking opportunities, and continuing education.

Target Audience

  • Accounting students and professionals seeking to build a strong foundation in financial accounting principles and practices.
  • Business owners, managers, and entrepreneurs interested in understanding financial statements and performance metrics for decision-making.
  • Investors, analysts, and stakeholders who rely on financial information for evaluating business performance and prospects.
  • Individuals considering careers in accounting, finance, or related fields requiring knowledge of financial accounting concepts.


1 Lesson24h

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Universal Institute

63 Courses
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