Good accounting practices and procedures are needed in every business and organisation. Details of their trading transactions need to be accurately recorded so that they know what their financial situation is at any time. In this free online Diploma course, students will learn about the core practices involved in recording these details, from understanding debits and credits and using simple T-accounts to closing out the accounts at the end of an accounting period, producing the statement of retained earnings and balance sheet. Detailed examples are worked through on a transaction-by-transaction basis, helping the students understand how and why each step is necessary. Once the student has a basic knowledge of the practice and procedures involved on a daily basis, they are introduced to the more formal theory of accounting, the assumptions, principles and modifying conventions, the FASB conceptual framework and the main objectives of financial reporting. This free online accounting course will be of great interest to entrepreneurs and business professionals who would like to get a thorough introduction to accounting practices and theory, and to any learner who is interested in accounting as a future career.
Modules in Diploma in Accounting - Core Practices and Theory
Learn more about accounting and its use in business decisions.
Learn more about recording business transactions in accounting.
Learn about adjustments for financial accounting.
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