Welcome to the World of

Business Accounting
Ankur Kulshrestha
Common Myths

1. Since it has ‘Finance’ in its name, it is only

relevant for students wanting to major in
Finance

2. It will involve heavy mathematics

3. Since I am a non-commerce student, I am

anyway doomed

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"When you first start to study a field, it seems like you have to
memorize a zillion things. You don't.

What you need is to identify the core principles, generally 3 to 12 of

them, that govern the field.

The million things you thought you had to memorize are simply
various combinations of the core principles.’’

…Journalist John Reed (1887-1920) who performed very poorly in

school, but eventually “figured it all out” to graduate from Harvard.

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State of a manager without knowing how to read the financial numbers…

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 Business Finance

Economics Economy

Accounting
Accounting
What is in it for a business student?

Intended Learning Outcomes

1. To understand various accounting terms used
2. To understand the basic structure of three financial statements of a corporate
enterprise (IS | BS | CFS)
3. To understand critical ratios, their interpretation in order to read the financial
information
4. To be able to apply the fundamentals learnt above in areas such as Inventory and
Long Lived Assets

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Blended Form of Learning