05 June 2008
I am really impressed with your keen interest in learning core accounting funtions. If you remember I had replied one of your carreer help a couple of days ago.
Let me explain you certain factors you need to know before impulsively look around for some knowledge about a functional area that now happends to be you are involved in.
1. Identify what you really want to learn. If I am not wrong you are an MBA in finance. I doubt you have a strong academic foundation on accounting.
The first step to prepare and understand a balance sheet is that to acquire basic knowledge of double entry accounting principle, accounting concepts,accounting terminology and the assumptions and estimates made inaccordance with the accounting standards.
The second step is to acquire the ability to fine tune such balance sheet to the regulatory requirement and compute tax.
Third step is to analyse the balance sheet from a financial institution's/Bank's angle in order to assess the financial indicators and ratios that provide the investment worthiness of the company.
Now in your language to be an expert in Balance sheet,you need to acquire all the above skills.
It is highly impossible to acquire these skills just by reading through a book that gives any amount of examples.
I strongly recommend that you join any evening course that gives you practical training on accounting and expose yourself fully into the practical scenario.Try to take active part in the statutory audit of your office and be present yourself to the audit discussions with the auditor and note down important points and observe the clarifications given by the accounts people to the auditor. offer help to the accounts department for consolidation and summrisation of accounting data and preparation of balance sheet.
If you are rightly focused and has a strong determination you can be an expert on financial statements.
06 June 2008
thank you sir but i have some other problem i am MBA-Finance and i have little knowledge how the balance sheet make as per your suggestion take participate into audit my senior not allow me participate in audit or in Balance sheet work they always hangup me with others work i don't know why. Due to some insecurity but i am very hard working person so plz tell me some books on balance sheet with the help of this i will surprise them because with the help of book i would be get information then i will go to management that i have capability to do such type of work so i am asking dear sir about books to know the basic and high funda through books i hope know u have been understand my problem
09 June 2008
I can provide you with a book comprehensively cover all aspects of Balance sheet right from the foundation of double entry principle, which may be useful to you.
09 June 2008
I can provide you with a book comprehensively cover all aspects of Balance sheet right from the foundation of double entry principle, which may be useful to you.
09 June 2008
I can provide you with a book comprehensively cover all aspects of Balance sheet right from the foundation of double entry principle, which may be useful to you.
09 June 2008
I can provide you with a book comprehensively cover all aspects of Balance sheet right from the foundation of double entry principle, which may be useful to you.
CAclubindia
