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Recording Business Transactions in Accounting
The ability to accurately record business transactions is of vital importance for accounting professionals in any business or organisation. In this free online accounting course you will be introduced to ledger accounts and journals and the rules for recording your transactions in them. You will learn about permanent and real accounts in the Ledgers, what the journal is used for and how the posting to each are referenced.
The accounting cycle is explored along with the eight steps that form the basis for recording business transactions. This course also introduces the six rules of debit and credit along with explanations and examples of each rule. The course then links all these concepts together by demonstrating a series of transaction postings starting with the journals and ending with a trial balance and looking at possible sources of errors in a trial balance. Students then see how this information is used through vertical and horizontal analysis to assist in making business decisions.
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 principles, and to any learner who is interested in accounting as a future career.
Having studied this course learners will be able to:
- Use the account as the basic classifying and storage unit for accounting information;
- Express the effects of business transactions in terms of debits and credits to different types of accounts;
- List the steps in the accounting cycle;
- Record the effects of business transactions in a journal;
- Post journal entries to the accounts in the ledger;
- Prepare a trial balance to test the equality of debits and credits in the journalizing and posting process;
- Analyze and use the financial results - horizontal and vertical analyses.
All Alison courses are free to study. To successfully complete a course you must score 80% or higher in each course assessments. Upon successful completion of a course, you can choose to make your achievement formal by purchasing an official Alison Diploma, Certificate or PDF.
Having an official Alison document is a great way to celebrate and share your success. It is:
- Ideal to include with CVs, job applications and portfolios
- A way to show your ability to learn and achieve high results
Modules List( 2 )
RECORDING BUSINESS TRANSACTIONS IN ACCOUNTING
1 Recording Business Transactions
END OF COURSE ASSESSMENT
2 Recording Business Transactions Assessment
You must score 80% or more to pass this assessment.
Recording Business Transactions Assessment