Course description
All companies and organizations must ensure that they effectively implement the principles and practices used in modern accounting systems to make sure that proper financial controls are constantly maintained. This free online Fundamentals of Accounting course will help you do just that by guiding you through the main financial statements used in accounting systems - including the profit and loss account and the balance sheet - and the everyday adjustments that have to be made to these statements.
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 accounting principles such as matching, disclosure, consistency, diversity, dependability, verifiability, and conservatism. Next, the course teaches you about important accounting topics such as prepaid and accrued expenses, recording, capital account, closing and posting entries. Finally, you will 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. By the end of the course you will have learned about the importance of prudent financial management, the role it plays in the success or failure of businesses and organizations, and how to conduct important accounting tasks effectively. This will be a great boost for your career.
Upcoming start dates
Training content
Fundamentals of Accounting
Description: This accounting module 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.
- Learning Outcomes
- Introduction
- Accounting Terminology
- Accounting Principles
- Accounting systems and preparation of reports
- Balance day adjustments in the general journal and ledger
- Lesson Summary
Course assessment
- Assessment: Fundamentals of Accounting Assessment
Certification / Credits
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.
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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,...