This video is the first video of Financial Accounting and Reporting Course in MBA. This is actual classroom recording to give you glimpse of what and how we teach at RVS IMSR. Do leave your feedback/comment/questions below this video.
This video will cover basics of Financial Accounting starting with What is accounting, income statement, balance sheet, cash flow statement.
Accounting is the process of identifying, gathering, measuring and communicating financial information about a company's operations.
After explaining the fundamentals of what is a 'financial year' the video will talk about the 3 financial statements namely income statement, cash flow statement and balance sheet.
Later, we will talk about reporting standards that are followed across the world so as to report the financial details of the company to the outside world. Later we would also talk about the recent development in this field - IFRS - International Financial Reporting Standards'.
Remember, however, that accounting fundamentals don't change irrespective of these differences. Accounting revolves around six simple concepts: asset, liability, income, expense, inflow and outflow.
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