Fundamentals of Accounting and Cost Accounting

The axes of this course are:
🔷Introduction to Accounting
What is accounting?
Purpose
Types of FS
Financial vs Management accounts
Accounting Concepts & Principles
Accrual concepts
🔷Preparation of FS
Assets, Liabilities, Income, Expense & Equity
Accounting Equation
Preparation of a Simple Income statement, Balance Sheet & Cash flow statement
🔷The Accounting world
The Dual effect
Debit vs Credits
Trial Balance
Identifying Errors and Correcting them
Understanding and knowing each category
🔷Financial Statement Analysis
Ratios :
Profitability
Efficiency
Solvency
Working Capital
Reviewing an Insurance company FS
🔷Costs Management
Nature of Costs – Fixed, Variable, Semi Variable
Break Even point
Identifying Insurance company Cost structure