Course Content
The fundamentals of accounting
The fundamentals of accounting are the basic concepts and principles that underpin the recording, summarizing, and reporting of financial transactions. Accounting is essential for all businesses, regardless of size or industry, as it provides a clear and accurate picture of a company's financial performance and position.
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The purpose of accounting
06:39
The accounting equation
10:50
Sources and recording of data
00:00
The double entry system of book-keeping
02:49
😎Game Zone – 3
00:00
Introduction of DMAS rule
04:19
😎Game Zone – 4
00:00
Fun Lab🎰🔔
QUIZ💪🏆👍 |
Sources and recording of data continued
A factor is a number that divides the given number exactly without a remainder, whereas a multiple is a number, and that number is a product of the given number with other numbers.
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Divisibility test for numbers up to 4-digits
06:18
Prime and composite number
03:33
😎Game Zone – 1
00:00
Factors of a number up to 50
03:24
Prime Factorization
03:38
Concept of HCF and LCM
04:13
😎Game Zone – 2
00:00
Math Lab🎰🔔
Dare To Math 💪🏆👍 | Factors and multiples
Verification of accounting records
A fraction is used to represent the portion/part of the whole thing. It represents the equal parts of the whole.
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Definition of fraction
06:56
😎Game Zone – 1
00:00
Compare the fraction
07:43
Simplifying Fractions
03:35
😎Game Zone – 2
00:00
Addition and subtraction of fraction
07:27
Multiplication and division of fraction
03:42
Math Lab🎰🔔
Dare To Math 💪🏆👍 | Fraction
Verification of accounting records continued
A decimal is a number expressed in the scale of tens. Commonly speaking we talk about decimals when numbers include a decimal point to represent a whole number plus a fraction of a whole number (tenths, hundredths, etc.).
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Place value of decimal numbers
03:20
😎Game Zone – 1
00:00
Basic operation on decimal
10:55
Decimal into fraction
03:47
Fraction into decimal
08:30
😎Game Zone – 2
00:00
Math Lab🎰🔔
Dare To Math 💪🏆👍 | Decimal and Fraction
Accounting procedures
Measurement is defined as the process of comparison of an unknown quantity with a known or standard quantity.
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Measurement
05:41
😎Game Zone – 1
00:00
Conversion of units of length
05:35
Volume/capacity
02:36
😎Game Zone – 2
00:00
Measurement of Mass
03:37
Units of time
03:43
Math Lab🎰🔔
Dare To Math 💪🏆👍 | Measurement
Accounting procedures continued
Geometry is a branch of mathematics that studies the sizes, shapes, positions, angles, and dimensions of things.
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Identify the geometrical objects
05:37
😎Game Zone – 1
00:00
Measuring of line segment
04:25
😎Game Zone – 2
00:00
Recognized parallel and non-parallel lines
02:38
Angles
04:17
😎Game Zone – 3
00:00
Quadrilateral
04:04
Math Lab🎰🔔
Dare To Math 💪🏆👍 | Geometry
Preparation of financial statements
Data handling is the process of collecting, organizing and presenting the data in such a way that is helpful to analyze and make the conclusion.
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Simple bar-graph
03:52
Simple line-graph
01:40
😎Game Zone – 1
00:00
Math Lab🎰🔔
Dare To Math 💪🏆👍 | Information Handling
Preparation of financial statements continued
Preparation of financial statements continued
Analysis and interpretation
Analysis and interpretation
Accounting principles and policies
Accounting principles and policies
Accounting (7707) O Level
About Lesson

The purpose of accounting is to provide financial information about a business or organization to its users. This information is used to make informed decisions about how to manage the business, invest in it, or lend money to it.

Accounting information is used by a variety of stakeholders, including:

  • Management: Accounting information helps managers to track the financial performance of the business, identify areas for improvement, and make informed decisions about future operations.
  • Investors: Investors use accounting information to assess the financial health of a company and decide whether or not to invest in it.
  • Creditors: Creditors use accounting information to assess the creditworthiness of a business and decide whether or not to lend it money.
  • Government agencies: Government agencies use accounting information to regulate businesses and collect taxes.

Accounting information is also used by the general public to understand the financial performance of businesses and other organizations.

The specific purposes of accounting include:

  • To provide a record of financial transactions: Accounting provides a complete and accurate record of all financial transactions that occur during a period of time. This record can be used to track the performance of the business, identify trends, and make informed decisions about future operations.
  • To prepare financial statements: Accounting is used to prepare financial statements, such as the income statement, balance sheet, and statement of cash flows. These financial statements provide a summary of the financial performance and position of the business.
  • To comply with legal and tax requirements: Businesses are required by law to maintain accounting records and prepare financial statements. Accounting also helps businesses to comply with tax laws and regulations.
  • To support management decision-making: Accounting information is used by managers to make informed decisions about all aspects of the business, such as pricing, production, marketing, and investment.
  • To provide accountability and transparency: Accounting provides a way to track the financial activities of a business and ensure that they are conducted in a fair and transparent manner.

Overall, the purpose of accounting is to provide financial information to users to help them make informed decisions. Accounting is essential for all businesses, regardless of size or industry.

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