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Principles of Accounting
Develop your understanding of accounting principles using a unique visualisation tool in this free online course.
Description
This unique accounting course is created by Accounting Intuition and accredited by the Chartered Institute of Management Accountants (CIMA). We believe that the best way to learn is through genuine understanding and experience. That’s why we've developed a set of groundbreaking visualisation models that explain accounting transactions and balances using the analogy of water pipes and tanks and let you develop an intuitive understanding of how accounting works as a simple, connected system.
This course assumes no prior knowledge and gradually introduces all the building blocks of accounting such as revenue, costs, assets, liabilities and equity through a series of ground-breaking business simulation models. Learn about the fundamental accounting equation, double-entry bookkeeping, financial statements, managing cashflow, the operating cycle, fixed assets and company funding - all through simulating running a business.
The models are used by leading universities to help their students understand financial concepts, and are built into this free online course. Whether you are completely new to finance, have never quite felt comfortable with how accounting works or simply want an engaging refresher to update your skills, take this course now to develop a lifelong, intuitive understanding.
Start Course NowModules
The Accrual Principle
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Course Introduction
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The Accrual Principle
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The Accrual Principle - Pros and Cons
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Summary
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Quiz - The Accrual Principle
Revenue and Cash
Assets and Liabilities
Equity
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The Profit and Loss Account
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Equity
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The Fundamental Accounting Equation
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Debits and Credits
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Summary
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Quiz - Equity
Financial Statements
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The Profit and Loss Statement
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The Balance Sheet
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The Cashflow Statement
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Financial Analysis
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Summary
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Quiz - Financial Statements
Working Capital
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Direct and Indirect Costs
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Current Assets
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Working Capital
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Cash Conversion
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Summary
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Quiz - Working Capital
The Operating Cycle
Profit, Assets and Cashflow
Fixed and Intangible Assets
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Fixed Assets
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Depreciation
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Depreciation Techniques
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Intangible Assets
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Goodwill
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Summary
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Quiz - Fixed and Intangible Assets
Business Funding
Course assessment
Learning Outcomes
- Develop an intuitive understanding of how accounting works
- Evaluate accounting transactions and balances and how they interact through debits and credits
- Explain how the accrual principle creates a fundamental difference between profit and cashflow
- Describe how profit, cashflow and the balance sheet are all connected
- Interpret and analyse key financial statements
- Analyse the Fundamental Accounting Equation and explain its consequences
- Calculate profitability ratios and explore their implications
- Manage cashflow and working capital by exploring the operating cycle
- Account for fixed assets and depreciation
- Explain the issues with intangible asset accounting
- Evaluate the funding options available to companies
Certification
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:
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 Certificates 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 Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, 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 Certificate pricing, please visit our Pricing Page.
