Fintech Engineering Bootcamp [Work In Progress]

Welcome to the Fintech Engineering Bootcamp repository! This open-source resource aims to provide a comprehensive understanding of fintech engineering principles, focusing on the intersection of financial technology and software engineering.

What is Fintech Engineering?

Fintech engineering involves applying technology to innovate and improve financial services, covering areas such as digital banking, cryptocurrencies, payment systems, and more. This boot camp equips learners with foundational knowledge and skills in both finance and technology domains.

Table of Contents

  1. Introduction to Accounting 101
  2. Database Design
  3. Building a Backend Service in Nest JS
  4. Additional Topics

Introduction to Accounting 101

Principles of Accounting

  • Revenue Recognition:

    • Understanding when and how to recognize revenue, adhering to the revenue recognition principle.
  • Matching Principle:

    • Aligning expenses with related revenues in the same accounting period.
  • Conservatism Principle:

    • Prudent treatment of assets and liabilities, preferring lower valuations or recognizing potential losses.
  • Full Disclosure Principle:

    • Disclosing all relevant information that could influence financial statement users.

Types of Accounts

Chart of Accounts

General Ledger

  • Ledger Accounts

    • Understanding the concept and purpose of ledger accounts in recording financial transactions.
  • Posting Process

    • Explaining the process of posting entries from journals to ledger accounts.
  • Account Balances

    • Understanding how account balances are calculated and maintained in the general ledger.
  • Adjusting Entries

    • Exploring the use of adjusting entries to ensure accurate financial reporting in the general ledger.
  • Trial Balance

    • Understanding the creation and purpose of the trial balance using data from the general ledger.
  • Closing Entries

    • Discussing the process of closing entries to reset temporary accounts in the general ledger.
  • Reporting and Analysis

    • Utilizing data from the general ledger for financial reporting and analysis purposes.
  • Balance Sheet

    • Incorporating the information from the general ledger into the creation and understanding of the balance sheet.
  • Income Statement

    • Utilizing data from the general ledger for the preparation and analysis of the income statement.

Rules of Debits and Credits (Double Entry)

Database Design (Practicals)

Building a Backend Service in Nest JS

  • Creating our controllers
  • Building our accounting models
  • Creating our GL processes

Additional Topics

Advanced Accounting Concepts

  • Consolidation Accounting
  • Fair Value Accounting

Financial Reporting Standards

  • International Accounting Standards (IAS)

Risk Management in Fintech

  • Credit Risk Management
  • Operational Risk

Fintech Regulatory Frameworks

  • Know Your Customer (KYC) Regulations
  • Payment Services Directive (PSD2)

Feel free to contribute to this open-source project by forking the repository, making changes, and submitting pull requests!

Contributors

  • Favour Onuoha