Diploma in Accounting - Theory & Core Practices | Alison

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Diploma in Accounting - Core Practices and Theory

Develop the best practices for developing worksheet accounts and learn the core principles of accounting.

Free Course
This free online accounting diploma teaches you about the core theory and practices of the accounting discipline. With the use of simple and easy to follow lessons, this course will teach you about many of accounting's core principles and practices, and get you started with simple practical examples of effective accounting practice. Start this free online course today to hone your accounting skills for professional or personal usage.





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In this course, you will learn the most important concepts of accounting. First, you will develop the skills necessary to classify and record financial transactions, and will be shown the most common mistakes committed by beginners when it comes to recording financial transactions. Next, you will learn the difference between debit and credit, and will be given a variety of transaction examples for you to practice with.

You will then learn the formal theory behind accounting, and will gain a better understanding of the principles and evolving conventions in accounting. Next, you’ll develop an understanding of the three basic forms of business organizations, and you’ll be shown how to prepare a classified balance sheet. By the end of the course, you’ll gain practical skills in accounting that can help you monitor business finances effectively.

This course is perfect for professionals just starting out in their accounting education, from business owners to accounting students. By taking this course, you can gain a solid understanding of the basics of accounting and learn how to monitor a company’s finances. This will be a great kickstart to your accounting career, so check out the course and start moving forward.

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Module 1: Accounting and Its Use in Business Decisions

Module 2: Recording Business Transactions in Accounting

Module 3: Adjustments for Financial Accounting

Module 5: Completing the Accounting Cycle

Module 6: Accounting Theory

Module 7: Diploma in Accounting - Core Practices and Theory Second Assessment

Module 8: Diploma in Accounting - Core Practices and Theory Final Assessment

Module 4: Diploma in Accounting - Core Practices and Theory First Assessment

Learning Outcomes

Having studied Alison's Diploma in Accounting Core Practices and Theory course, you will be able to:

  • Identify and describe the three basic forms of business organizations;
  • Determine the effects of individual transactions on the financial statements;
  • List and describe the four main financial statements;
  • Classify and record financial transactions;
  • List and execute the steps in the accounting cycle;
  • Work with t-accounts and journals;
  • Describe how to use adjusting entries;
  • Describe how to close out a set of accounts using a worksheet;
  • Describe how to prepare a classified balance sheet;
  • Identify and discuss the underlying assumptions, major principles and modifying conventions of accounting.


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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