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Fundamentals of Accounting Urdu Course

This document outlines the learning objectives and content covered in a fundamentals of accounting course in Urdu. It introduces key accounting concepts like the accounting equation, debits and credits, the recording process using journals and ledgers, adjusting entries, the accounting cycle, and preparing basic financial statements. It also discusses accounting ethics, principles, and career opportunities in the field. The content is presented over multiple chapters that build upon each other to help students learn fundamental accounting skills.

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Babar Abbas
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4K views

Fundamentals of Accounting Urdu Course

This document outlines the learning objectives and content covered in a fundamentals of accounting course in Urdu. It introduces key accounting concepts like the accounting equation, debits and credits, the recording process using journals and ledgers, adjusting entries, the accounting cycle, and preparing basic financial statements. It also discusses accounting ethics, principles, and career opportunities in the field. The content is presented over multiple chapters that build upon each other to help students learn fundamental accounting skills.

Uploaded by

Babar Abbas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Fundamentals of Accounting Urdu course

1 Accounting in Action

LO 1: Identify the activities and users associated


with accounting.
Three Activities
Who Uses Accounting Data

LO 2: Explain the building blocks of accounting:


ethics, principles, and assumptions.
Ethics in Financial Reporting
Generally Accepted Accounting Principles
Measurement Principles
Assumptions

LO 3: State the accounting equation, and define


its components.
Assets
Liabilities
Owner’s Equity

LO 4: Analyze the effects of business transactions


on the accounting equation.
Transaction Analysis
Summary of Transactions

LO 5: Describe the four financial statements and


how they are prepared.
Income Statement
Owner’s Equity Statement
Balance Sheet
Statement of Cash Flows

LO *6: APPENDIX 1A: Explain the career


opportunities in accounting.
Public Accounting
Private Accounting
Governmental Accounting
Forensic Accounting
“Show Me the Money”
2 The Recording Process
Accidents Happen: MF Global Holdings

LO 1: Describe how accounts, debits, and credits


are used to record business transactions.
The Account
Debits and Credits
Summary of Debit/Credit Rules

LO 2: Indicate how a journal is used in the


recording process.
Steps in the Recording Process
The Journal

LO 3: Explain how a ledger and posting help


in the recording process.
The Ledger
Posting
The Recording Process Illustrated
Summary Illustration of Journalizing and
Posting

LO 4: Prepare a trial balance.


Limitations of a Trial Balance
Locating Errors
Dollar Signs and Underlining
A Look at IFRS 90
3 Adjusting the Accounts
Keeping Track of Groupons: Groupon

LO 1: Explain the accrual basis of accounting


and the reasons for adjusting entries.
Fiscal and Calendar Years
Accrual-versus Cash-Basis Accounting
Recognizing Revenues and Expenses
The Need for Adjusting Entries
Types of Adjusting Entries

LO 2: Prepare adjusting entries for deferrals.


Prepaid Expenses
Unearned Revenues

LO 3: Prepare adjusting entries for accruals.


Accrued Revenues
Accrued Expenses
Summary of Basic Relationships

LO 4: Describe the nature and purpose of an


adjusted trial balance.
Preparing the Adjusted Trial Balance
Preparing Financial Statements

LO *5: APPENDIX 3A: Prepare adjusting


entries for the alternative treatment of
deferrals.
Prepaid Expenses
Unearned Revenues
Summary of Additional Adjustment
Relationships

LO *6: APPENDIX 3B: Discuss financial reporting


concepts.
Qualities of Useful Information
Assumptions in Financial Reporting
Principles in Financial Reporting
Cost Constraint
A Look at IFRS 146
4 Completing the Accounting Cycle
Everyone Likes to Win: Rhino Foods

LO 1: Prepare a worksheet.
Steps in Preparing a Worksheet
Preparing Financial Statements from a
Worksheet
Preparing Adjusting Entries from a
Worksheet

LO 2: Prepare closing entries and a post-closing


trial balance.
Preparing Closing Entries
Posting Closing Entries
Preparing a Post-Closing Trial Balance

LO 3: Explain the steps in the accounting cycle and


how to prepare correcting entries.
Summary of the Accounting Cycle
Reversing Entries—An Optional Step
Correcting Entries—An Avoidable Step

LO 4: Identify the sections of a classified balance


sheet.
Current Assets
Long-Term Investments
Property, Plant, and Equipment
Intangible Assets
Current Liabilities
Long-Term Liabilities
Owner’s Equity

LO *5: APPENDIX 4A: Prepare reversing


entries.
Reversing Entries Example
A Look at IFRS 202

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