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FUNDAMENTALS OF ACCOUNTING Olimpia Sengupta, IALM Faculty


At completion of this course you will brief yourselves with ideas to perform the accounting activities. The main element of business is cash and rolling of your buying and selling activity. There are meanings of debit and credit accounting while you implement your business cycle. Specific accounts related to your customer whom you are selling goods and vendor from whom you are buying is very important to record while doing business. Purchase and sales entries are described with examples. Meaning of certain accounting terms like credit, share capital, Drawings, Asset, Liability, Income and Expense account, Debtor and Creditor A/c, Trade and Cash discounts are also briefed in this content. Classification of Accounting head in different branches of accounting is bifurcated to make your concept clear. Posting of Journal Entries with debit and credit effects are explained over the modules. Hope you all have a good basic learning experience.

Benefits of the Accounting Course 

Maintenance of business records all the financial transaction pertaining to the respective year systematically in the books of accounts. It is not possible for management to remember each and every transaction for a long time due to their size and complexities. Financial statements like
Trading and profit and loss account, Balance Sheet can be prepared easily if there is a proper recording of transactions. Accounting information enables management to plan its future activities,make budgets and coordination of various activities in various departments for decision making.The proper and systematic records of the financial transactions act as evidence in the court of law regarding for legal matters. It also helps in various tax authorities like income tax, indirect taxes depend on the accounts maintained by the management for settlement of taxation matter. Accounting helps business owners create and control company budgets. When you know how your money is coming in and going out, you are better prepared to monitor business budgets. Speaking of expenditures, accurate accounting helps business owners consider the ramifications of making major business purchasing decisions. From a new building lease to company vehicles, major expenditures can have a significant impact on monthly cash flow.

Other important information about this ONLINE Course 

  • Maximum Duration to complete the Course : 20 days
  • Course Fees: Rs. 1500/- (Several Payment Options Available: Credit & Debit Cards, Cheque, Demand Draft, Cash, Wire Transfer – NEFT, PayTM)
  • Online Evaluation Method: Based on “Multiple Choice Question (MCQs)” and an “Assignment Submission” of 500 words.
  • The score of the online examination will be taken as final result and Grade will be assigned as per the following scheme: Grade A – 80-100, Grade B – 65-79, Grade C – 50-64, Reattempt – Below 50
  • Next Batch: Each IALM course starts immediately after payment. Students can register online for the course any time. Upon payment of fees and registration, the present Course will start immediately. 

Type Lesson Title Time
BASICS OF ACCOUNTING 5 Hrs
DAY TO DAY USE OF ACCOUNTING WORDS 5 Hrs
JOURNAL ENTRIES 5 Hrs
ASSIGNMENT QUESTIONS 5 Hrs
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