Fundamentals of Accounting - Revised 2017
Learn the basics of accounting principles and how to analyse financial accounts, with this free online course.
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All companies and organizations must ensure that they effectively implement the principles and practices used in modern accounting systems to make sure that proper financial controls are constantly maintained. This free online Fundamentals of Accounting course will help you do just that by guiding you through the main financial statements used in accounting systems - including the profit and loss account and the balance sheet - and the everyday adjustments that have to be made to these statements.
The course begins by teaching you how to create a profit and loss statement and a balance sheet. It then introduces you to important accounting terminology and accounting principles such as matching, disclosure, consistency, diversity, dependability, verifiability, and conservatism. Next, the course teaches you about important accounting topics such as prepaid and accrued expenses, recording, capital account, closing and posting entries. Finally, you will learn how to create a general journal and ledger.
This accounting course will be of great interest to business professionals who would like to learn more about the basics of accounting systems and the terminology used within these systems. By the end of the course you will have learned about the importance of prudent financial management, the role it plays in the success or failure of businesses and organizations, and how to conduct important accounting tasks effectively. This will be a great boost for your career.Start Course Now
Fundamentals of Accounting
Learning Outcomes for Fundamentals of Accounting
Accounting systems and preparation of reports
Balance day adjustments in the general journal and ledger
Lesson Summary for Fundamentals for Accounting
Having completed this course you will be able to:
- Create a profit and loss statement and a balance sheet.
- Explain accounting terminology such as matching, disclosure, consistency, diversity, and many other common accounting terms.
- Describe important accounting principles such as prepaid and accrued expenses, recording, capital account, closing and posting entries.
- Explain how to create a general journal and ledger.
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 an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:
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Accounting is the process where a business maintains a record of its financial transactions. Apart from aiding effective management of the business, accounting also helps the organisation report to regulators, investors and the public at large. The summary or account of a company’s financial transactions and track record over a period of time gives us an insight into the company’s performance and its likely course in the future.
The best free accounting courses available on Alison include:
- Introduction to Cash Accounting - Revised
- Accounting Theory
- Accounting and Its Use in Business Decisions
- Introduction to Cash Accounting - Revised
- Recording Business Transactions in Accounting
- Completing the Accounting Cycle
- Fundamentals of Accounting - Revised 2017
- Fundamentals of Financial Accounting - Revised 2017
- Diploma in Accounting - Advanced Controls and Transactions
Each of the online accounting courses on Alison are free, as are all of Alison's online courses. Alison's learners do not have to pay anything to take these courses unless they want a digital or physical copy of the course certificate.