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Diploma in Accounting - Advanced Controls and Transactions

Accounting
Free Course
This diploma course takes an in-depth look at the processes and controls used to record business transactions.
Description Outcome Certification View course modules

The course Diploma in Accounting - Advanced Controls and Transactions looks in-depth at the transactions, processes and controls used to record typical transactions in a business.

In sales, you will learn how to handle returns, discount and freight charges as well as working out the cost of goods sold. In inventory, you will see the two different methods of counting inventory, periodic and perpetual, as well as the different methods of calculating value of the inventory and the associated journal transactions to record the necessary adjustments.

To help manage the cash assets within a company, the different controls and best practices are outlined with examples of documents and processes given for both checking accounts and petty cash. Samples of adjusting journals are given and the importance and use of the quick ratio are explained. This is followed with details on how to manage the accounts receivables, from calculating the provision for uncollectable accounts to the use of aged analysis. Similarly in accounts payable you will see how to make provision for both the known and unknown liabilities as well as how to use payable notes as for of short term finance.

This diploma course will be of great interest to entrepreneurs and business professionals who would like to better understand the transactions and controls used in business, and to any learner who is interested in accounting as a future career.

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 official Certification, which is a great way to share your achievement with the world. Your Alison Certification 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 to you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification 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 that is posted to you (with FREE standard shipping worldwide)
Framed Diploma - a physical version of your officially branded and security-marked Diploma in a stylish frame that is posted to you (with FREE standard shipping worldwide)

All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, 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 Certification pricing, please visit our Pricing Page.

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