Accounting Course - Diploma in Accounting Transactions | Alison

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Diploma in Accounting - Advanced Controls and Transactions

Learn professional accounting controls and processes for free, and make recording business transactions easier today.

Free Course
This free online Accounting diploma teaches you about Controls and Transactions. In accounting, controls help to reduce error rates and fraud, as well as ensuring that procedures are completed in a consistent and rigorous manner. This course will teach you about advanced controls, as well as the the different transactions, processes, and controls used to record typical business transactions from billings to financial reporting.





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This accounting for merchandising course will first show you how to handle sales returns, discounts, and freight charges. You will then learn how to work out the cost of goods sold, keep track of inventory using the periodic and perpetual methods, calculate the value of the inventory, and record necessary adjustments in associated journal transactions. The importance and use of the quick ratio will be clearly explained, and soon you will know how to process all the main transactions within a merchandising business.

Managing the cash assets within a company can be tricky, so this free accounting course teaches you how to manage the checking account, petty cash transactions, and the associated document flow. You will also learn how to manage accounts receivables, from calculating the provision for uncollectible accounts to the use of aged analysis. Here, you will also be shown how to make provision for both the known and unknown liabilities as well as how to use payable notes for short term finance.

Are you ready to learn more about the inventory accounting methods as well as the transactions and controls commonly used in a merchandising business? This diploma course will teach valuable knowledge to entrepreneurs and business professionals who would like to better understand what’s involved in the accounting aspects of their business. It is also perfect for any learner interested in taking up accounting as a future career. So check out the course, and boost your accounting skills today.

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Learning Outcomes

Having studied this course you will be able to:

  • Process all the transactions necessary for a merchandising business;
  • Calculate the net realizable value and use is as a key performance indicator (KPI);
  • Count and manage all the transactions relating to inventory;
  • Put in place the controls to help prevent errors in the handling of cash;
  • Manage the checking account and petty cash transactions and the associated document flow;
  • Calculate, analyze and use the financial results-quick ratio;
  • Manage the accounts receivables and payables using the allowance method;
  • Calculate provisions to payables, uncollectable etc.;
  • Calculate interest on notes receivable or notes payable;
  • Analyze and use the financial results—accounts receivable turnover and the number of days' sales in accounts receivable.


All Alison courses are free to enrol, study and complete. To successfully complete this Diploma course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Diploma course, you have the option to acquire an official Diploma, which is a great way to share your achievement with the world. Your Alison Diploma is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Diplomas for completed Diploma courses:

Digital Diploma - a downloadable Diploma in PDF format, immediately available to you when you complete your purchase
Diploma - a physical version of your officially branded and security-marked Diploma, posted to you with FREE shipping
Framed Diploma - a physical version of your officially branded and security-marked Diploma in a stylish frame, posted to you with FREE shipping

All Diplomas are available to purchase through the Alison Shop. For more information on purchasing Alison Diplomas, please visit our FAQs. If you decide not to purchase your Alison Diploma, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Diploma pricing, please visit our Pricing Page.


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