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Financial Accounting Basics for Beginners - Part 1
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--------------------------------------------------------------------------------------------- In this video tutorial we will understand the meaning of Financial accouting. We will learn why Financial accouting is important and how it affects an organization. We will also study the benefits of book keeping activities and how they can provide detailed insights of any organization.
We will understand what is a transaction in Accounting perspective.
Some Primary reasons to perform proper Financial accouting activities would be:
To know profit / Loss (performance)
To know whom money is due or from whom money is recievable
To submit accounting results to authorities like Govt, SEBI, Tax Dept etc
To analyse past performance and plan for future.
We would also answer the question like - Who keeps these books of accounts ?
answer would be accountants of company or A/C dept
Accounting information in todays modern world is mainly maintained is electronic form in softwares like Tally, SAP etc.
Finally we discuss about the entire financial accounting process and how it flows as follows -
Identification of transactions
Journal
Ledger posting
Trial Balance
Adjustment entries
Final accounts
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--------------------------------------------------------------------------------------------- In this video tutorial we will understand the meaning of Financial accouting. We will learn why Financial accouting is important and how it affects an organization. We will also study the benefits of book keeping activities and how they can provide detailed insights of any organization.
We will understand what is a transaction in Accounting perspective.
Some Primary reasons to perform proper Financial accouting activities would be:
To know profit / Loss (performance)
To know whom money is due or from whom money is recievable
To submit accounting results to authorities like Govt, SEBI, Tax Dept etc
To analyse past performance and plan for future.
We would also answer the question like - Who keeps these books of accounts ?
answer would be accountants of company or A/C dept
Accounting information in todays modern world is mainly maintained is electronic form in softwares like Tally, SAP etc.
Finally we discuss about the entire financial accounting process and how it flows as follows -
Identification of transactions
Journal
Ledger posting
Trial Balance
Adjustment entries
Final accounts
Simple Snippets Official Website -
Simple Snippets on Facebook-
Simple Snippets on Instagram-
Simple Snippets email ID-
UpSkill is an Ed-Tech Company / Coaching Centre for Information Technology / Computer Science oriented courses and offer coacing for various Degree courses like BSc.IT, BSc.CS, BCA, MSc.IT, MSc.CS, MCA etc.
Contact via email /call / FB /Whatsapp for more info
We also Provide Certification courses like -
Android Development
Web Development
Java Developer Course
.NET Developer Course
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