CORE CONCEPTS OF MANAGEMENT
MARKETING MANAGEMENT
FINANCIAL MANAGEMENT
HUMAN RESOURCES MANAGEMENT
OPERATIONS & PRODUCTION MANAGEMENT

Preparation of Financial Statements
Accounting is the science of recording, classifying and summarising transactions or events of a fi nancial nature and interpreting the results thereof. This lesson broadly covers the three main activities of bookkeeping, based on current accounting principles. The concept of ‘Accounting Equivalence’ and a powerful, yet simple two-by-two matrix eliminates the need to remember rules by rote. The three golden rules of debit and credit may never tarnish. After this lesson, they will not be required. Where and how are all fi nancial transactions recorded in the texts of accounts? What is the effect of these transactions on Assets and Liabilities? As you journey through the world of recording, classifi cation, journalisation and validation, many may question the relevance of it all in a management class. Find out for yourself as the author, Prof. S Sundararajan of IIMB evangelises to win over a bubbling sceptic.
FM/AC2

18 Mins

25 Mins

65 Pages
Equivalent classroom time: 10hrs