Basic Accounting Terms

📚 Master Basic Accounting with Dr. Mohd Saifi Anwar

🚀 Course Headline: Unlock the Language of Business – Basic Accounting Knowledge In Advance!

🎉 Course Description:

Introduction to Accounting Terms and Concepts

• Understand the distinction between a Calendar year and a Financial year.
• Dive into the concept of Depreciation and its two primary causes: usage and time.

📑 Foundational Elements of Accounting

• Learn about Vouchers, the critical documents that support accounting entries.
• Explore the world of Goods and their various categories, including Opening Stock and Closing Stock.

🌍 Business Entities and Their Relationships

• Discover the roles of Manufacturers, Traders, Insolvent entities, and Proprietors within the business landscape.
• Identify the differences between Debtors and Creditors, and manage Bills Payable and Bills Receivable effectively.

🔖 Accounting Fundamentals

• Grasp the principles of Accountancy and the importance of understanding Accounting.
• Learn about Cost components: Material, Labour, and Overheads, and how they influence your business.

🆘 Financial Health and Strategic Planning

• Understand Liabilities, Reserves, and the distinction between Good Debts and Bad Debts.
• Learn how to manage Doubtful Debts and recover on Bad Debts.

⚙️ Transaction Management

• Recognize different types of Transactions, including those that impact Capital.
• Explore the concepts of Debit, Credit, Revenue, Expenses, and the calculation of Profit, Gain, and Loss.

🛍️ Inventory and Stock Management

• Navigate through Purchase and Sale transactions, including Purchase Returns and Sale Returns.
• Familiarize yourself with Discounts, both Trade and Cash, and their impact on accounting records.

🧩 Specialized Accounting Classifications

• Distinguish between Capital and Revenue nature items.
• Understand the Classification of Expenditure into Capital and Revenue types.

🏗️ Capital Expenditure Breakdown

• Learn how Capital Expenditure relates to fixed assets, isn't for resale, provides long-term benefits, and more.
• See examples of Capital Expenditure and how it influences the value and earning capacity of a business.

💸 Revenue Expenditure Insights

• Understand the nature of Revenue Expenditure, its benefit, and its place in accounting records.
• View examples of Revenue Expenditure that are integral to maintaining routine operations.

📈 Income Classification

• Explore Capital Receipts and their impact on your business's financial standing.
• Discover Revenue Receipts and the way they affect short-term financial health.

🔗 Understanding Liabilities

• Learn about the various types of Liabilities and how they should be managed.

💎 Assets in Accounting

• Get to know Assets and their classification, including intangible assets like Goodwill.

🏫 Special Topics in Accounting

• Explore intellectual property rights such as Copyright, Patent, and Trademark.
• Delve into the dynamics of Commerce, Wholesale trade, Primary, and Secondary industries.

🧠 Historical Perspectives

• Discover who is considered the Father of Accounting in India.

This comprehensive online course is designed to equip you with the essential accounting knowledge necessary for a solid foundation in financial management. Whether you're a novice or looking to refresh your skills, Dr. Mohd Saifi Anwar will guide you through each concept, ensuring you gain clarity and confidence in your understanding of Basic Accounting. 🎓

Join us to transform complex accounting principles into practical, everyday applications that drive business success!