All companies and organisations must ensure that they effectively implement the principles and practices used in modern accounting systems to ensure financial control is maintained. The course Fundamentals of Accounting explores the main financial statements used in accounting systems including the profit and loss account, the balance sheet and the everyday adjustments that have to be made.
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 important accounting principles such as matching, disclosure, consistency, diversity, dependability, verifiability, conservatism and many other common accounting terms. Next, the course teaches you about important accounting topics such as prepaid and accrued expenses, recording, capital account, closing and posting entries. You will also 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. You will learn about the importance of prudent financial management and the factor it plays in the success or failure of businesses and organizations.
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 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