Welcome to the course on Accounting Standards Basics .
This course is going to take you through the
of Accounting Standards.
So why at all Accounting Standards are required?
Accounting standards are necessary so that financial statements are meaningful across a wide variety of businesses; otherwise, the accounting rules of different companies would make comparative analysis almost impossible.
Accounting Standards reduces the scope for creative accounting. The creative accounting refers to twisting of accounting policies to produce financial statements favourable to a particular interest group.
Accounting Standards aim at improving the quality of financial reporting by promoting comparability, consistency and transparency, in the interests of users of financial statements.
With the emergence of trans-national corporations in search of money, not only for growth but also to sustain activities has necessitated raising of capital from all parts of the world. Hence, countries across the world are going towards single set of accounting standards in the interest of public. Global standards will facilitate cross border flow of money, global listing and comparability of financial statements.
This course may use technical terms related with accounting. Hence, the learner must have basic knowledge of accounting and financial statements.
This course is structured in self paced learning style.
Take this course to understand the basics of accounting standards.
What you’ll learn
- Understand why accounting standards are required
- Understand benefits and limitations of Accounting Standards
- Recognize International Accounting Standard Authorities
- Appreciate adoption of International Financial Reporting Standards as Global Standards
Are there any course requirements or prerequisites?
- Basics of Accounting
- Fair knowledge of Financial Statements
Who this course is for:
- Accounting / Finance / Auditing Students
- M.Com., MBA(Finance) Students
- Accounting / Finance Professionals
- Not suitable if you have no linkage with Accounting
Accounting Standards and Global Standards
- 6. Convergence towards Global Accounting Standards 05:35
- 7. International Accounting Standards Board 02:33
- 8. IFRS as Global Standards 02:00
- 9. Status of Accounting Standards 01:44
- 10. Enterprises to which AS Apply 01:49
- 11. Financial Items and Accounting Standards 01:19
- 12. Bonus Lecture – Discount Coupon Links for other Courses
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