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Diploma in Accounting - Advanced Controls and Transactions

  • Description
  • Outcome
  • Certification
  • This free certificate in accounting course 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 free diploma of accounting 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 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 share your success. Plus it’s:

    • Ideal for including in CVs, job applications and portfolios
    • An indication of your ability to learn and achieve high results
    • An incentive to continue to empower yourself through learning
    • A tangible way of supporting the Alison mission to empower people everywhere through education.

Diploma in Accounting - Advanced Controls and Transactions
  • Free

  • 6-10 Hours

  • Global Text Project

  • Assessment

  • Certification

  • 250 Pts

Modules List( 7 )
  • DIPLOMA IN ACCOUNTING - ADVANCED CONTROLS AND TRA...
  • Module
    1
    Accounting - Merchandising Transactions
    • Learn more about merchandising transactions in accounting.
    • Navigation and Prerequisites
    • Merchandising Transactions
    • Gross Selling Price
    • Returns and Allowances
    • Cost of Goods Sold
    • Classified Income Statement
    • Lesson Summary
  • Module 2: Measuring and Reporting Inventory
    • Learn more about measuring and reporting inventory.
    • Merchandise Inventory
    • Determining Inventory Costs
    • Four Inventory Costing Methods
    • Pro’s and Con’s of the Four Costing Methods
    • Journal Entries for the Peretual Inventory Procedure
    • Departures from Cost Basis for Inventory Measurement
    • Lesson Summary
  • Module 3: Diploma in Accounting - Advanced Controls and Transactions First Assessment
    • You must score 80% or more to pass this assessment.
    • Diploma in Accounting - Advanced Controls and Transactions First Assessment
  • Module 4: Accounting - Control and Monitoring of Cash
    • Learn more about accounting practices and procedures for the control and monitoring of cash.
    • Control of Cash
    • Internal Contols
    • Controling Cash
    • The Bank Checking Account
    • Bank Reconcilliation
    • Petty Cash Fund
    • Lesson Summary
  • Module 5: Accounting - Receivables and Payables
    • Learn more about receivables and payables in accounting.
    • Accounts Receivable
    • Uncollectable Accounts
    • Write-offs and Recoveries
    • Current Liabilities
    • Notes Receivable and Note Payable
    • Short Term Financing through Notes Payable
    • Lesson Summary
  • Module 6: Diploma in Accounting - Advanced Controls and Transactions Second Assessment
    • You must score 80% or more to pass this assessment.
    • Diploma in Accounting - Advanced Controls and Transactions Second Assessment
  • END OF COURSE ASSESSMENT
  • Module 7: Diploma in Accounting - Advanced Controls and Transactions Final Assessment
    • You must score 80% or more to pass this assessment.
    • Diploma in Accounting - Advanced Controls and Transactions Final Assessment
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