Financial Accounting – 1 | 1st Semester | B.Com | OU
Instructor
Mohammed Omar
Reviews
Course Overview
This course introduces students to the fundamental principles and practices of financial accounting. It covers the entire accounting process—from recording transactions to preparing final accounts—in alignment with the Osmania University B.Com 1st Semester syllabus.
Learners will gain an understanding of accounting concepts, conventions, and standards, along with practical exposure to journal entries, ledgers, subsidiary books, rectification of errors, and preparation of financial statements. The course also includes essential topics such as bank reconciliation statements, depreciation accounting, and final accounts of sole traders.
Designed to build a strong foundation in accounting, this course blends theory with hands-on problem-solving, preparing students for advanced accounting and professional applications.
What You'll Learn?
- Explain the concept, evolution, and scope of financial accounting.
- Understand accounting principles, concepts, conventions, and standards (AS & Ind-AS).
- Record business transactions through journals, ledgers, and trial balances.
- Prepare and manage subsidiary books and rectify accounting errors accurately.
- Understand and prepare Bank Reconciliation Statements (BRS).
- Calculate and account for depreciation using different methods (SLM, DBM, Sum-of-Units).
- Prepare final accounts of a sole trader, including trading, profit & loss accounts, and balance sheets.
- Differentiate between capital and revenue transactions and handle adjustments.
- Apply accounting concepts to real-world business problems with accuracy and clarity.
- B.Com 1st Semester students under the Osmania University syllabus.
- Beginners seeking a strong foundation in accounting principles and practices.
- Students preparing for university exams, CA Foundation, or other commerce certifications.
- Aspiring accountants, entrepreneurs, or business students who want to understand financial statement preparation.
- Learners looking to enhance their analytical and numerical skills in finance and accounting.
- Video Lessons