Accounting and Finance Process Basics - A beginners guide

Explore the Fundamentals of Accounting & Finance: A Beginner's Guide

This course offers a comprehensive introduction to Accounting and Finance processes, perfect for freshers and those new to the field. Gain a solid foundation in essential concepts and procedures to confidently navigate the world of finance.

What You'll Learn:

• Accounting Basics: Master the core principles of Accounting and Bookkeeping, including fundamental accounting concepts, the 3 golden rules of accounting, and the crucial understanding of Debit and Credit. Learn the difference between cash basis and accrual basis accounting.
• Trial Balance & Error Detection: Understand the importance of a Trial Balance and how to identify and resolve common errors in trial balance.
• Financial Statements Overview: Get a clear understanding of the elements within financial statements, and how the Income Statement, Balance Sheet, and Cash Flow Statement are structured and presented.
• Key Financial Concepts: Explore essential terminology like Capex/Opex, Accruals/Prepaid, Provision/Reserves, working capital, and broad categories of financial ratios. Familiarize yourself with the Chart of Accounts.
• Management Assertions: Understand Management's assertions of financial statements and their significance.
• End-to-End Finance Process Overview: Gain a high-level understanding of key finance processes, including:
  • Order to Cash (O2C)
  • Procure to Pay (P2P)
  • Record to Report
  • Travel Expense Management
  • Payroll Processing
  • Fixed Assets Management
  • Bank Reconciliation
    This provides a valuable end-to-end perspective of common finance workflows.
• Practical Application: All information and learnings are designed to be directly relatable to a real work environment.

Resources Included:

• Downloadable Summary: Access a concise summary of all key course points for convenient offline review.
• Basic Accounting Journal Entries: A simplified, downloadable resource to help you understand and practice fundamental accounting journal entries.

Updated October 2023

Practice Tests: Test your knowledge with 300 Q&A specifically covering O2C and P2P processes.