Financial Statement Analysis and Reporting

The accounting cycle, step by step

This 60-lecture NPTEL course from IIT Roorkee, taught by Prof. Anil K. Sharma, starts with the accounting process and its underlying concepts. It then follows the record-keeping chain: journal entries, the ledger and the trial balance.

Statements and adjustments

Once the records are in place, the course builds income statements and balance sheets. A run of lectures on adjustments then shows how the statements change once period-end entries are made, which is where many beginners find the logic harder to follow.

Study suggestions

• Work a small set of transactions through journal, ledger and trial balance yourself.
• Redo one set of statements after adding adjustments to see the difference.
• Keep the accounting concepts lectures beside you when working the examples.