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Diploma in Accounting - Core Practices and Theory

Accounting
Free Course
Learn more about the core practices and theory in accountancy and worksheet accounts.
Description Outcome Certification View course modules

Good accounting practices and procedures are needed in every business and organization. Details of trading transactions need to be accurately recorded so that you know what your financial situation is at any time.

In Alison's accounting diploma course, you will learn about the core practices involved in recording various 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 you understand how and why each step is necessary.

After reviewing day-to-day accounting procedures, you are introduced to the more formal theory of accounting, the assumptions, principles and modifying conventions, the Financial Accounting Standards Board (FASB) conceptual framework and the main objectives of financial reporting.

Alison's 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.

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 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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