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Financial Accounting Basics

Free Course
Contains fundamentals of accounting principles, concepts and recording procedures applied in a practical business context.
  • Duration

    2-3 Hours
  • Assessment

  • Certification

  • Responsive

  • Publisher





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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.

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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 enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate 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 for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

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.


Course Reviews

Farid M.
one year ago
Farid M.

Many thanks to Alison for providing such an opportunity for us.

Mazen A.
one year ago
Mazen A.

It was very good

one year ago

Learned a lot Recommended this class

Samuel L.
one year ago
Samuel L.

this is a very wonderful course.i have enjoyed it

Farhan A.
one year ago
Farhan A.

this course is very useful for beginners who dont know about accounting. i wish that every beginners should learn this course

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