Course description
This course will first introduce you to the fundamentals of basic accounting principles and recording procedures. You will study double entry, the accounting equation and balance sheets, trial balances, income statements, cash flow statements and changes in equity statements. You will also look into the Chart of Accounts and its use in an accounting system as well as study how the Income Statement provides information on the profits and losses of the company.
Next, you will study the accounting equation and the preparation of the Balance Sheet. You will also learn the key concepts of the Cash Flow Statement and describe its value in providing insights into your company trading performance. The course will also guide you through the preparation of the Statement of Changes in Equity as well as how entries are performed in the four key financial statements.
Keeping track of a financial statement balance sheet may seem difficult at first. This free online financial accounting basics course is designed to make things easy and help you, as a business professional, to gain the competency you need to create and present really useful financial statements. Any aspiring accounting professional will get immense benefit from these skills. So, check out the course today and start boosting your accounting career in just a few short hours!
Upcoming start dates
Training content
Module 1: The Foundation - Financial Accounting
Description: Financial statements provide information about the economic performance of a company which is of benefit to a wide range of users when making economic decisions. Financial statements should be understandable, relevant, reliable and comparable. Reported assets, liabilities, income, expenses, and equity are directly related to an organization's economic success or lack of it.
- Learning Outcomes
- Reasons to Prepare Financial Statements
- Principles of Accounting
- Chart of Accounts and General Ledger
- Income Statement
- Balance Sheet
- Statement of Cash Flows
- Statement of Changes in Equity
- Interrelationships between the Four Statements
- Lesson Summary
Course assessment
- Assessment: Module 2: Financial Accounting Basics Assessment
Certification / Credits
By the end of this course, you will be able to:
- Describe key accounting principles and concepts to apply them in a business context
- Explain the Chart of Accounts and its use in an accounting system
- Describe how the Income Statement provides information on the profits and losses of the company
- Explain the overall concept in preparation of the Statement of Changes in Equity and its use
- Describe how entries are performed in the four key financial statements
- Discuss the accounting equation
- Discuss the preparation of the Balance Sheet and its application to provide info on the financial position of the firm
- List the key concepts of the Cash Flow Statement
- Describe its value in providing insight into the generation of money by the trading activities of your firm
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Alison is the world’s largest free online empowerment platform for education and skills training, offering thousands of CPD-accredited courses and a range of impactful career development tools. It is a for-profit social enterprise dedicated to making it possible for anyone,...