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UPDATED IN MARCH 2023
Added a section for Practice Test - Test your knowledge. - 98 Question and Answers.
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1. A simple course comprising of Accounting Journal entries applicable for every business.
< Downloadable resource - the full PDF on Accounting journal entries under lecture 1>
2. This course will make accounting journal entries interesting for all those who have been avoiding this subject.
3. It will be a one stop repository of all basic journal entries for most of the sub processes.
4. It covers first level accounting Journal entries
· Basics of Journal entries and types of Journal entries
· Journal entry format and Journal entry impact on accounts
· 3 Golden rules of accounting – Real account, Personal account, Nominal account
· Two scenario-based examples, with a step-by-step approach to identify the correct accounting journal entries. With this step-by-step approach you will be able to arrive at the correct journal entries for any given scenario.
· Order to Cash process - Revenue, Accounts Receivables, Allowance for Bad debts, Bad Debts, Factoring
· Procure to Pay process - Payable, Payroll expenses, Accruals
· Prepaid, Fixed Assets, Inventory, Abnormal loss, Prepaid expenses, Petty cash, Banking
· Special topics like Intercompany, Lease, Impairment, Goodwill, Amortization expense
· Taxes – Goods and Service Tax, Income tax and Deferred Tax Asset and Deferred Tax Liability
· Share capital, Dividend
· Investments, Investment in Associates and Investment by the owner in Equity
5. This course is relevant for all Business needs, Finance professionals and accounting students.
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Sonu Thomas is a Chartered Accountant with 20+ years of Corporate experience in the field of Finance, Accounting, Auditing, Compliance and Operational excellence.
He has extensive experience in the field of Accounts Receivables, Accounts Payables, Internal Audit and Controls, SOX Compliance, Cost saving.
He aims to help individuals and businesses accomplish their goals by providing them with simple and effective learning solutions.
Strongly believes upskilling team members is the key to Organization and individual success stories.
