Please choose the following topics that you want to study and research about accounting:
- International Financial Reporting Standard/Internal Accounting Standard( IFRS/IAS)
- Internal Financial Reporting Standard ( IFRS) for SME
- Cost and Management Accounting
- Association of Chartered Certified Accountants (ACCA)/ACCA Program
- Certified Accounting Technician (CAT)/CAT Program
What We will study about Accounting Subject ?
Accounting is important for company or organisation. If your company does not have proper accounting record, you may not know how much you will get profit or loss.
If we have good accounting system, so it is easy to control account receivable, cash, account payable, inventory, fixed asset, revenue, expenses etc. It can reduce fraud or error in your organisation.
There are the 4 main types of financial statements in accounting subjects:
- Income Statement ( statement of comprehensive income)
- Balance sheet ( statement of financial position)
- Statement of cash flow
- Note to financial statement
There are the following 7 Account Types in accounting subjects you should know :
Below are accounting equations for financial statements:
- Income statement : profit = revenue – expense
- Balance sheet: Asset = liability + equity
- Statement of cash flow : ending cash = beginning cash + cash from operating activity + cash from investing activity + cash from financing activity
To make good accounting system, company needs to make accounting policy and accounting documents. Accounting system should be checked or audited by internal auditor.