Learning Outcomes

Introduction to Internal Audit

Conducting the Internal Audit

Preparing the Audit Report

Lesson Summary

This module explains the various important components of conducting an internal audit within a company. It will explain the different types of internal audits and the steps of performing an internal audit in detail. Moreover, it also explains the method of preparing an internal audit report, along with its essential components.

Internal Auditing - Fundamental Principles & Concepts - Course assessment

Learn how to conduct an internal audit using accounting techniques in this free online financial management course.

Internal Auditing - Fundamental Principles & Concepts

This bookkeeping course is designed for anyone looking to become an internal auditor or auditing professionals who want to refresh and polish their skills. This course's topics are straightforward and cover the essential aspects of internal auditing: its types, the process of conducting an internal audit and preparing an internal audit report. We also compare external and internal auditing. Sign up to take control of your organisation's finances.

Introduction and Scope of Accounting

Financial Statements

Formats of Balance Sheet

Detailed Format and Elements of Balance Sheet

Basic Structure of a Balance Sheet

Types of Assets

Balance Sheet Elements and Equation

In this module, you will be introduced to financial accounting and the three streams of accounting. You will learn about financial statements, the different formats of the balance sheet as well as the basic structure of a balance sheet. You will also learn about the types of assets and the equation for calculating assets and owners fund.

Format of Profit and Loss Account

Basic Structure of Profit and Loss Account

Elements of Profit and Loss Account

Concept of Conservatism and Depreciation

Methods of Providing Depreciation

Inventory Valuation

In this module, you will be introduced to the profit and loss account. You will learn about the major components of a profit and loss account which are income and expenses. You will learn about the basic structure of the profit and loss account as well as how to calculate it. You will then be introduced to the concept of conservatism and depreciation, the methods of depreciation as well as inventory valuation.

Definition and Types of Cash Flow

Categories of Cash Flow Statement

Operating Activities by Direct Method

Preparation of Cash Flow Statement

Example of Cash Flow Statement

In this module, you will be introduced to the cash flow statement as the summary of cash flows (receipts and payments) during an accounting period. You will learn about the different types of cash flow statements, cash and cash equivalents and financial activities. You will then be introduced to operating activities by the direct method as well as how to prepare a cash flow statement.

Corporate Governance

Corporate Governance: Global Models

Corporate Governance: Enron Case

In this module, you will be introduced to corporate governance as the collection of mechanisms, processes and relationships by which a company is controlled and managed. You will learn about the main principles of corporate governance which are: Transparency, Accountability, Trusteeship and Ethics. You will learn about the three models of corporate governance as well as Enron’s failure of having proper corporate governance.

Diploma in Financial Accounting - First Assessment

Accounting Standards and Principles

Evolution of Accounting

Recording of Financial Transactions

In this module, you will be introduced to accounting standards and principles. Accounting principle refers to the communication of results of the business to the outside world. You will learn about accounting concepts such as business entity, dual aspect, cost, and consistency. You will learn about the evolution of accounting as well as how to record financial transactions.

Zee Case: Profit and Loss Account

Zee Case: Balance Sheet Statement

Hindalco Case: Profit and Loss Account

Hindalco Case: Balance Sheet and Cash Flow Statement

In this module, you will be introduced to Zee TV, an entertainment television company as well as Hindalco limited, a leading aluminum and copper manufacturer. You will be presented with both company’s financial statements and you will learn how to prepare a profit and loss account from it as well as as a balance sheet.

Interpretation and Analysis of Financial Statements

Ratio and Ratio Analysis

Types of Ratio

Horizontal Analysis for Shipping Corp of India

Common Size Statement for Shipping Corp of India

Trend Analysis for Shipping Corp of India

Calculating Return on Equity for Shipping Corp of India

In this module, you will be introduced to the Interpretation and Analysis of Financial Statements. You will learn about ratio and ratio analysis, as well as the different types of ratios. You will also be introduced to horizontal analysis, common-size statements, trend analysis, as well as return on equity.

Ratio and Financial Statement Analysis for TCS

Combined Ratio Analysis for TCS

Company Analysis Using RIL Company Data

Ratio and Financial Statement Analysis Using RIL Company Data

Revision of Course

In this module, you will be introduced to ratio and financial statement analysis for TCS. You will learn about different types of combined ratios and their equations. You will also learn about company analysis as well as ratio and financial statement analysis using RIL company data.

Diploma in Financial Accounting - Second Assessment

Diploma in Financial Accounting - Assessment

The free online course on the streams of accounting, preparing financial statements and the structure of balance sheet.

Diploma in Financial Accounting

The free online course on financial accounting teaches you about the streams of accounting, as well as the concept of financial statements and the basic structure of a balance sheet. You will learn about the components of a profit and loss account, as well as the concept of conservatism and depreciation. You will also be able to explain the concept of ratio analysis. Start this course today to improve your understanding of financial accounting.

900+ Open University Free Certificates

8 Best Geology Courses for 2025

Coursera, Udemy, and the $10M+ Video Privacy Battle: Class Action Update

Udemy vs Coursera: Comparing Online Learning Giants that IPO’d in 2021

6 Best Free OCaml Courses for 2025

Chinese Edtech Pivots: Well-rounded Education, Hardware, Agriculture E-commerce, Fast-Food, Garments, and More

6 Best Cyber Threat Intelligence (CTI) Courses in 2025

6 Best Node.js Courses in 2025

2U Powered Degrees Pricing Chart: 112 Programs from $20K – $200K

Learn Something New: 100 Most Popular Courses For December

Can an AI Teach AI? Learning From an Avatar

How Online Course Platforms Track Learners in 2022

6 Best Influencer Marketing Courses for Marketers

12 Best Data Analysis Courses for 2025: From Data to Insights

DeepLearning.AI to Cross $100M in Sales on Coursera

Unlock 800+ Free Certificates: Master Tech & Soft Skills with CodeSignal Learn