Accounting - Core Concepts Learning Path
Accounting involves collecting, organizing and interpreting financial data in order to produce financial statements. It is hugely important for dealing with the finances of a business. By studying the Alison Learning Path in Accounting – Core Concepts you will learn about the accounting process. You will learn about accounting principles, concepts, procedures and structures that accountants follow on a daily basis. The Alison Learning Path in Accounting – Core Concepts is a series of courses that will give you an overview of the role of an accountant and inform you on different areas of the accounting process.
Courses in this Learning Path
Fundamentals of Accounting
Using an interactive presentation style, Alison's accounting course dives into the terminology employed in financial circles, the principles used in basic accounting and the systems put in place to ensure financial control is maintained. The accounting course explores the main financial statements including the profit and loss account, the balance sheet and the everyday adjustments that have to be made. After completing the accounting course, you are expected to be aware of the importance of prudential financial management and the factor it plays in the success or failure of businesses and organizations.1.5-3 Hour50 Points
Fundamentals of Financial Accounting
Alison's Introduction to Accounting offers a comprehensive guide to Financial Accounting. This free online course explains accounting principles and concepts, and how to prepare and analyse financial accounts. It also examines ratio analysis, working capital, cash and finance, business analysis, and business risk.
It is a useful tool for those studying accounting, people working within financial operations of companies, and anyone who wishes to learn more about finance and accounting in general.1.5-3 Hour50 Points
This course begins with an introduction to the traditional accounting theory. You will look into accounting concepts some of which are the accruals concept which states that revenue is recognized when earned, and expenses are recognized when assets are consumed, the economic entity concept which states that the transactions of a business are to be kept separate from those of its owners, the consistency concept which states that once a business chooses to use a specific accounting method, it should continue using it on a go-forward basis.
You will then look into accounting constraints or modifying principles which are used to modify accounting assumptions and accounting concepts to make accounting information in financial statements more useful for users. This course will also delve into the conceptual framework project of the Financial Accounting Standards Board. You will study the nature and content of a company's summary of significant accounting policies in its annual report, and a whole lot more!
Accounting concepts and principles are a set of broad conventions that have been devised to provide a basic framework for financial reporting. As financial reporting involves significant professional judgments by accountants, these concepts and principles ensure that the users of financial information are not misled by the adoption of accounting policies and practices that go against the spirit of the accountancy profession. Upon the completion of this course, you will have a better understanding of the concepts and principles of accounting useful in your accounting practice so make sure to check this course out today.1.5-3 Hour50 Points
Accounting - Control and Monitoring of Cash
Managing and monitoring credit and collection, cash allocation, disbursement, account payable, and invoicing are important skills every accountant must learn. With this course, you will study the accounting practices and procedures for the control and monitoring of cash. You will learn that internal controls help ensure the integrity of financial and accounting information, promote accountability, and prevent fraud in a company. You will also delve into the importance of cash control.
You will then look into the bank checking account. You will learn that a checking account is a deposit account held at a financial institution that allows you to put your money either in the form of checks or cash into one account from which you can then write checks or withdraw cash. You will also look into the petty cash fund and bank reconciliation which is the process of ensuring that a company's records such as the check register and balance sheet are correct.
For any business or organization, the need to control and monitor cash transactions to ensure the efficient operation of the business is vital. Upon the completion of this accounting course, you will gain a better understanding of the importance and function of internal control, be able to calculate, analyze and use the financial results-quick ratio, and a whole lot more! Check out this course and learn how to control and monitor daily cash transactions within an enterprise today.1.5-3 Hour50 Points