Loading
Alison Logo

Diploma in Accounting - Core Practices and Theory

  • Description
  • Outcome
  • Certification
  • Good accounting practices and procedures are needed in every business and organization. Details of trading transactions need to be accurately recorded so that you know what your financial situation is at any time.

    In Alison's free online accounting diploma course, you will learn about the core practices involved in recording various details, from understanding debits and credits and using simple T-accounts to closing out the accounts at the end of an accounting period, producing the statement of retained earnings and balance sheet. Detailed examples are worked through on a transaction-by-transaction basis, helping you understand how and why each step is necessary.

    After reviewing day-to-day accounting procedures, you are introduced to the more formal theory of accounting, the assumptions, principles and modifying conventions, the Financial Accounting Standards Board (FASB) conceptual framework and the main objectives of financial reporting.

    Alison's free online accounting course will be of great interest to entrepreneurs and business professionals who would like to get a thorough introduction to accounting practices and theory, and to any learner who is interested in accounting as a future career.

  • Having studied Alison's Diploma in Accounting Core Practices and Theory course, you will be able to:
    - Identify and describe the three basic forms of business organizations;
    - Determine the effects of individual transactions on the financial statements;
    - List and describe the four main financial statements;
    - Classify and record financial transactions;
    - List and execute the steps in the accounting cycle;
    - Work with t-accounts and journals;
    - Describe how to use adjusting entries;
    - Describe how to close out a set of accounts using a worksheet;
    - Describe how to prepare a classified balance sheet;
    - Identify and discuss the underlying assumptions, major principles and modifying conventions of accounting.

  • 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 share your success. Plus it’s:

    • Ideal for including in CVs, job applications and portfolios
    • An indication of your ability to learn and achieve high results
    • An incentive to continue to empower yourself through learning
    • A tangible way of supporting the Alison mission to empower people everywhere through education.

Diploma in Accounting - Core Practices and Theory
  • Free

  • 10-15 Hours

  • Global Text Project

  • Assessment

  • Certification

  • 250 Pts

Modules List( 8 )
  • DIPLOMA IN ACCOUNTING - CORE PRACTICES AND THEORY...
  • Diploma in Accounting - Core Practices and Theory Resource Files View Resource
  • Module
    1
    Accounting and Its Use in Business Decisions
    • Learn more about accounting and its use in business decisions.
    • Navigation for this Course
    • The Accounting Environment
    • Accounting Defined
    • Overview of Accounting
    • Financial Statements of Business Organizations
    • The Financial Accounting Process
    • How Transactions Affect Income Statements and Balance Sheets
    • Dividends and Equity Ratios
    • Summary
    • Appendix A: Corporate versus Sole Proprietorship or Partnership Accounting
  • Module 2: Recording Business Transactions in Accounting
    • Learn more about recording business transactions in accounting.
    • The Account and Rules of Debit and Credit
    • Recording the Transactions
    • The Accounting Cycle
    • The Accounting Process in Operation
    • Analyzing and Using the Financial Results
    • The Use of Ledger Accounts
    • Summary
  • Module 3: Adjustments for Financial Accounting
    • Learn about adjustments for financial accounting.
    • Cash versus Accrual Basis Accounting
    • Classes and Types of Adjusting Entries
    • Adjustments for Deferred Items - Expenses
    • Adjustments for Deferred Items - Depreciation
    • Adjustments for Accrued Items
    • Supplementary Topics
    • Summary
  • Module 4: Diploma in Accounting - Core Practices and Theory First Assessment
    • You must score 80% or more to pass this assessment.
    • Diploma in Accounting - Core Practices and Theory First Assessment
  • Module 5: Completing the Accounting Cycle
    • Learn more about completing the accounting cycle.
    • The Work Sheet
    • Preparation of Financial Statements from the Work Sheet
    • The Closing Process
    • Accounting Systems: From Manual to Computerized
    • A Classified Balance Sheet
    • Analysis: Current Ratio
    • Summary
  • Module 6: Accounting Theory
    • Learn more about accounting theory.
    • Traditional Accounting Theory
    • Major Principles
    • Modifying Conventions
    • Objectives of Financial Reporting
    • Basic Elements of Financial Statements
    • Recognition & Measurement in Financial Reporting
    • Summary
  • Module 7: Diploma in Accounting - Core Practices and Theory Second Assessment
    • You must score 80% or more to pass this assessment.
    • Diploma in Accountancy - Core Practices and Theory Second Assessment
  • END OF COURSE ASSESSMENT
  • Module 8: Diploma in Accounting - Core Practices and Theory Final Assessment
    • You must score 80% or more to pass this assessment.
    • Diploma in Accountancy - Core Practices and Theory Final Assessment
Reviews and Rate
This course has no reviews yet.