Accounting and Finance Process Basics - A beginners guide

Birds eye view of the world of Accounting and Finance processes. A short course for sure shot results.

Updated in Oct 23

Practice tests to test your knowledge 300 Q&A added for O2C and P2P processes.
This course will provide a holistic view of the Accounting and Finance processes for a fresher or beginner level.
Overview of end-to-end processes in Finance
This course will equip you with the first level information on Accounting and Finance processes.

This course covers:

Basics of Accounting and Bookkeeping, Accounting concepts, 3 golden rules of Accounting, Debit and Credit, Cash basis and accrual basis etc.
Trial Balance and Errors in Trial balance etc.
Financial statements elements and a basic understanding of the flow and presentation of Income statement, Balance Sheet and Cash flow statement.
Introduction to Key concepts like Capex/Opex, Accruals/Prepaid, Provision/Reserves, working capital, Broad categories of ratios, Chart of Accounts etc.
Management’s assertions of financial statements
High level Process overview of key finance processes – Order to Cash, Procure to Pay, Record to Report, Travel expense, Payroll, Fixed Assets, Bank Reconciliation statement. This will give the student an end-to-end perspective of most of the finance processes which a beginner might start working and all these information and learnings will be relatable in a real work environment.
Basic accounting journal entries – Simplified into a downloadable resource for offline reading
Summary of all the key points of this course into a downloadable resource for offline reading