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Financial Accounting Basics

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Financial Accounting Basics
  • Free Course

  • EntreprenAble

  • 2-3 Hours

  • Assessment

  • Certification

  • Workplace - Job Roll Training - Level 1

  • 50 Pts

  • Description
  • Outcome
  • Certification
  • In the course Financial Accounting Basics you will learn about the fundamentals of accounting principles and recording procedures, double entry, the accounting equation and balance sheets, trial balances, income statements, cash flow statements, and changes in equity statements.

    Key accounting principles and concepts are applied in a business context, and you will gain the competency in interpreting financial statements that will help you make sound managerial decisions in your own business. The course explains how financial statements are interrelated and, how as a group, they inform different and mutually associated aspects of a company's financial standing. The course also shows how they support detecting trends and forecasting gaps.

    This course will be of great interest to all learners who would like to learn the basics of financial accounting. It will also help prepare learners who are considering a change in career path, such as from engineering to finance.

  • Having completed this course you will be able to:


    • Describe key accounting principles and concepts to apply them in a business context.
    • Explain the Chart of Accounts and its use in an accounting system.
    • Describe how the Income Statement provides information on the profits and losses of the company.
    • Discuss the accounting equation, the preparation of the Balance Sheet and its application to provide information on the financial position of the firm.
    • List the key concepts of the Cash Flow Statement and describe its value in providing insight into the generation of money by the trading activities of your firm.
    • Explain the overall concept in preparation of the Statement of Changes in Equity and its use.
    • Describe how entries are performed in the four key financial statements.

  • 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 celebrate and share your success. It is:

    • Ideal to include with CVs, job applications and portfolios
    • A way to show your ability to learn and achieve high results

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