Basics of Accounting & Bookkeeping – Foundation

Course Title:

Basics of Accounting & Bookkeeping – Complete Foundation Course
(Pure Accounting & Bookkeeping Concepts – No AI)

Course Link Line:

A complete foundation course that prepares you for AI in Accounting & Bookkeeping with Tally.

Module 1: Understanding Accounting & Bookkeeping

1. What is Accounting and Why It Matters

2. What is Bookkeeping and How It Differs from Accounting

3. Why Businesses Need to Maintain Books

4. Who Does What: Bookkeeper, Accountant, and Auditor

5. Importance of Accuracy and Reliability in Records

Core Terms: Accounting, Bookkeeping, Ledger, Journal, Accuracy, Auditor, Financial Records, Reporting.

Module 2: Basic Accounting Terms and Concepts

1. What is a Financial Transaction

2. The Accounting Equation (Assets = Liabilities + Capital)

3. Understanding Assets, Liabilities, and Capital

4. What are Income, Expense, and Profit

5. Understanding Owner’s Equity and Drawings

Core Terms: Assets, Liabilities, Capital, Income, Expense, Profit, Equity, Drawings, Accounting Equation.

Module 3: The Language of Accounting

1. Debit and Credit – Explained Simply

2. The Golden Rules of Accounting

3. Journal Entries – Meaning and Purpose

4. Vouchers and Source Documents

5. Ledger Accounts – The Heart of Bookkeeping

Core Terms: Debit, Credit, Journal Entry, Voucher, Source Document, Ledger, Posting, Trial Balance.

Module 4: From Records to Reports

1. Trial Balance – Checking Accuracy of Accounts

2. Profit & Loss Account – Measuring Performance

3. Balance Sheet – Understanding Financial Position

4. Cash Flow – Tracking Business Cash Movement

5. The Flow of Transactions: From Source to Statement

Core Terms: Trial Balance, Profit & Loss, Balance Sheet, Cash Flow, Financial Statement, Transaction Flow, Reconciliation.

Module 5: Essential Accounting Principles

1. Accrual vs. Cash Basis of Accounting

2. Matching Principle and Revenue Recognition

3. Capital vs. Revenue Expenditure

4. Depreciation – Why Assets Lose Value Over Time

5. Adjustments and Closing Entries (Overview Only)

Core Terms: Accrual, Cash Basis, Matching Principle, Revenue Recognition, Depreciation, Expenditure, Adjustments, Closing Entries.