By Umair Instructor
This course includes
(1) Introduction to the Course
(2) Accounting Assumptions
(3) 5 Pillars of Accounting
(4) Accounting Equation
(5) Example - Accounting Equation
(6) Recording Process
(7) Posting Enteries in Ledger Accounts
(8) Balancing the Trial Balance
(9) More Accounting Concepts
(10) Some Quiz Questions
(11) Adjusting Entries (Deferrals)
(12) Adjusting Entries (Accruals)
(13) Quiz (Adjusting Entries) Part 1
(14) Quiz (Adjusting Entries) Part 2
(15) Adjusted Trial Balance
(16) Preparing Financial Statements
(17) Closing the Accounts
(18) Closing The Accounts (Example)
(1) Current and Non-Current Assets
(2) Current and Non-Current Liabilites
(3) Accounting for Merchandising Operations
(4) Perpetual and Periodic Recording
(5) Merchandising Accounting- Quiz Question (Part 1)
(6) Merchandising Operations- Quiz Question (Part 2)
(7) Different Types of Inventories
(8) Goods in-transit (Quiz Question)
(10) Inventory Costing Method
(11) Inventory Costing (Quiz Question)
(12) Estimating Inventory Methods
(13) Estimating Inventory- GP Method (Quiz Question)
(14) Estimating Inventory- Retail Method (Quiz Question)
(15) Merchandise Operations and Inventory Costing (MCQs)
(16)Petty Cash (Concept and Example)
(17) Bank Reconciliation Statement
(18) Bank Reconciliation (Quiz Question)
(9) Errors in Computing Inventory
(19) Accounts Receivables
(20) Valuing Accounts Receivables (Write-off & Allowance)
(21) Accounting for Receviables (Quiz Questions)
(01) Introduction to Plant Assets
(02) Capital and Revenue Expenditure
(03) Examples (Cost Recognition of Plant Assets)
(04) Introduction to Depreciation
(05) Straight-Line Method with Example
(06) Units of Activity Method with Example
(07) Declining Balance Method with Example - Comparision
(08) Disposal of Assets (Retirement)
(09) Sale of Plant Asset (GainLoss)
(10) Exchange of Plant Asset
(11) Natural Resources & Concept of Depletion
(12) Quiz Questions - Plant Assets (Part 1)
(13) Quiz Questions - Plant Assets (Part 2)
(14) Current Liabilites & Note Payable
(15) Long-term Liabilities & Introduction to Bonds
(16) Issuing Bonds at Par
(17) Issuing Bonds at a Discount
(18) Issuing Bonds at a Premium
(19) Bond Ammortization Table
(20) Redemption of Bond
(21) Quiz Questions - Bonds (Part 1)
(22) Quiz Questions - Bonds (Part 2)
(01) Introduction to Partnership Accounting
(02) Allocation of interest, salaries & Profits in Partnership
(03) Admission of a new Partner
(04) Partner withdraw from the business
(05) Quiz Questions- Partnership (Part 1)
(06) Quiz Questions- Partnership (Part 2)
(07) Quiz Questions- Liquidation of Partnership
(08) Introduction to Corporation
(11) Issuing and Disposing off Treasury Stock
(12) Cash Dividends to CommonPreference Stocks
(13) Stock Dividends and Stock Splits
(14) Corporation Accounting- Quiz
(15) Introduction to Cash Flow Statements (Cash inflowsOutflows)
(16) Cash Flow Statement- Indirect Method (Example)
(17) Cash Flow Statement- Indirect Method (Example)
(18) Cash Flow Statement- Direct Method (Example)
(19) Cash Flow Statements- Quiz (Part 1)
(20) Cash Flow Statements- Quiz (Part 2)
Test Video (Foundation of Accounting)
Accounting commonly known as POFA in LUMS is a course that usually becomes nightmare for freshmen. For students who haven’t studied accounting previously, a simple debit-credit jargons horrify them. On the other hand, students who have already studied accounting previously took this course lightly and thus end up getting low grade due to over-confidence. This course is specially designed in a way that each concept is covered precisely so that you don’t need to search for a concept from number of pages or slides. Moreover, the course contains practice questions as well as past quiz questions that will familiarize students with exam pattern.
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