Description
Course Name: Diploma in Financial Reporting and Control Account
Course Id: DFRACA/Q1001.
Education Qualification: 12th Pass.
Duration: 370 Hrs.
How You will Get Diploma Certificate:
Step 1- Select your Course for Certification.
Step 2- Click on Enroll Now.
Step 3- Proceed to Enroll Now.
Step 4- Fill Your Billing Details and Proceed to Pay.
Step 5- You Will be Redirected to Payment Gateway, Pay Course and Exam Fee by Following Options.
Card(Debit/Credit), Wallet, Paytm, Net banking, UPI and Google pay.
Step 6- After Payment You will receive Study Material on your email id.
Step 7- After Completion of Course Study give Online Examination.
Step 8- After Online Examination within 7 days you will get Diploma Certificate soft copy(Scan Copy) and Hard Copy(Original With Seal and Sign) within 30 days.
Step 9- After Certification you will receive Prospect Job Opportunities as per your Interest Area.
Online Examination Detail:
- Duration- 120 minutes.
- No. of Questions- 60. (Multiple Choice Questions).
- 10 Questions from each module, each carry 10 marks.
- Maximum Marks- 600, Passing Marks- 40%.
- There is no negative marking in this module.
| How Students will be Graded: | ||
| S.No. | Marks | Grade |
| 1 | 91-100 | O (Outstanding) |
| 2 | 81-90 | A (Excellent) |
| 3 | 71-80 | A (Very Good) |
| 4 | 61-70 | B (Good) |
| 5 | 51-60 | C (Average) |
| 6 | 41-50 | P (Pass) |
| 7 | 0-40 | F (Fail) |
Benefits of Certification:
- Government Authorized Assessment Agency Certification.
- Certificate Valid for Lifetime.
- Lifetime Verification of Certificate.
- Free Job Assistance as per your Interest Area.
Syllabus
Diploma in Financial Reporting and Control Account
Accounting Basics
Fundamentals of Accounting: Accounting – Meaning, Scope and Significance of Accounting – Accounting Principles, Concepts and Conventions – Capital and Revenue Transactions – Depreciation – Rectification of Errors, Accounting for Special Transactions Bills of Exchange – Consignment – Joint Venture – Insurance Claims (Loss of Stock and Loss of Profit), Meaning, features, advantages, limitations, difference between single entry system and double entry system, Computation of profit or loss under Singe entry system–under Conversion Method, Preparation of Total Debtors Account, Total Creditors Account.
Preparation of Financial Statements
Preparation of Final Accounts of Profit Oriented organizations, Non-Profit Organizations and from Incomplete Records, Preparation of Financial statements of Profit Oriented organizations: P&L Account, Balance Sheet. Preparation of Financial Statements of Non-Profit making organizations: Preparation of Receipts & Payments Account, Income& Expenditure account and Balance Sheet, Preparation of Financial Statements from incomplete records (Single entry, Partnership Accounts Admission, Retirement, Death, Treatment of Joint Life Policy, Dissolution of partnership firms including piece meal distribution, Amalgamation of partnership firms.
Branch & Departmental Accounts
Self-Balancing Ledgers, Royalty Accounts, Hire Purchase and Installment System, Branch and Departmental Accounts, different types of branches from accounting point of view, describe three systems of maintaining branch accounts for a dependent branch, prepare branch account under the debtors system both at cost price and at invoice price, prepare branch account under the final accounts system, prepare the necessary accounts under the stock and debtors system, describe the need for branch accounting, describe the nature and purpose of accounting for departmental transactions, explain the process of recording departmental transactions and prepare departmental trading and profit & loss account, explatn the accounting treatment of inter-departmental transfers on the basis of cost price as well as transfer price.
Developments in Financial Reporting
Sustainability Reporting: Concept of Triple Bottom Line Reporting, Global Reporting Initiative (GRI), International Federation of Accountants (IFAC), Accounting and Reporting of Financial Instruments and other External Reporting: Meaning, recognition, de-recognition and offset, compound financial instruments, Measurement of financial instruments, Hedge Accounting, External Reporting under capital market regulations, Disclosures, Annual Reports-Statutory requirement and External report, Preparation of Financial Information, Disclosure of post balance sheet events, Financial reporting across the world with reference to reporting under US and UK laws.
GAAP and Accounting Standards
Evolution and Convergence of International Accounting Standards: International Financial Reporting Standards (IFRSs), Accounting Standards (AS) – applicability, interpretation, scope and compliance, Relative view of AS and IFRSs, GAAP in India, Hierarchy of GAAP in India, Comparative Analysis of the Indian Accounting Standards, IFRS and USGAAP, Presentation of Financial Statements, Surrender of Shares and Buy Back of Shares, External Reconstruction, Sepcial Purpose Vehicle, Treatment of Investment in Joint Venture in consolidated Financial Statement, Treatment of Investment in Associate in Consolidated Financial Statement.
Consolidated Financial Statements
Consolidation of foreign – Holding Company, Subsidiary Company and Associate Company including multiple sub subsidiaries, Concept of a group, Purposes of consolidated financial statements, Consolidation procedures-Minority interest, Goodwill, Treatment Pre-acquisition profit and Post -acquisition profit and concept of Fair value at the time of acquisition, Consolidated Income Statement, balance Sheet and Cash Flow Statements for Group of companies, Treatment of investment in associates in consolidated financial statements. Compare and contrast acquisition and equity methods of accounting, Impact on group financial statements at the point of acquisition, Treatment of investment in joint ventures in consolidated financial statements.
