🔻 Depreciation Revisited:
Depreciation needs to be adjusted periodically to reflect asset wear and tear.
📝 Entry:
Depreciation A/c Dr. ₹2,000
To Equipment A/c ₹2,000
🔁 Link:
This connects to fixed asset accounting in Module 4.
📘 Lesson 1: Introduction to Accounting
🎯Learning Objectives:
Understand what accounting is and why it matters
Know the history and evolution of accounting
Identify the users of accounting information
Recognize the different types of accounting and their roles
0/5
📘 Lesson 2: Basic Accounting Concepts & Principles
🎯 Learning Objectives:
Understand the accounting equation and double-entry system
Learn the core principles and assumptions of accounting
Familiarize yourself with global standards (GAAP & IFRS)
0/5
📘 Lesson 3: The Accounting Cycle
🎯 Learning Objectives:
Understand each step of the accounting cycle
Learn how to journalize, post to ledger, and prepare a trial balance
Apply the cycle to real business scenarios
0/5
📘 Lesson 4: Accounting for Assets
🎯 Learning Objectives:
Understand the different types of assets
Learn how to record, track, and depreciate assets
Apply inventory valuation methods and handle intangible assets
0/5
📘 Lesson 5: Accounting for Liabilities & Equity
🎯 Learning Objectives:
Understand short-term and long-term liabilities
Record and manage equity transactions
Differentiate between owner's equity, retained earnings, and dividends
0/6
📘 Lesson 6: Adjusting & Closing Entries
🎯 Learning Objectives:
Understand why adjustments are necessary at period-end
Learn to record common adjusting entries (accruals, deferrals, depreciation)
Prepare closing entries to reset temporary accounts for the new period
0/5
📘 Lesson 7: Financial Statements
🎯 Learning Objectives:
Understand the structure and purpose of all key financial statements
Learn how to prepare each statement from ledger/trial balance data
Interpret results for decision-making
0/5
📘 Lesson 8: Bookkeeping in Practice
🎯 Learning Objectives:
Understand day-to-day bookkeeping processes
Maintain cashbooks, ledgers, and petty cash systems
Reconcile bank statements and explore basic accounting software
0/5
📘 Lesson 9: Ethics, Controls & Errors
🎯 Learning Objectives:
Understand ethical responsibilities in accounting
Learn internal control principles and their practical implementation
Identify and correct common accounting errors
0/4
📘 Lesson 10: Final Project + Certification Exam
🎯 Learning Objectives:
Apply full knowledge of the accounting cycle in a real-world business scenario
Prepare complete sets of financial statements from scratch
Demonstrate mastery through a comprehensive final assessment
Earn a recognized certificate of completion
0/2