Learning Outcomes

In this free course, you will learn how to:

• List the primary financial statements and explain how the accounting equation links them
• Outline the steps involved in recording transactions using the double-entry bookkeeping system
• Describe the process of recording revenues and expenses under both accrual and cash basis accounting
• Recall the components of payroll accounting and their relevance to employee expense management
• Identify the methods of inventory valuation and their application in financial reporting
• Recognise common errors in account reconciliation and discuss strategies to ensure data accuracy
• Evaluate business performance using key financial ratios derived from financial reports
• Discuss best practices for financial record management and the role of internal controls in preventing fraud
• Calculate how to change Small and Large Numbers from Standard Form