What you'll get

  • Job Credibility
  • Certification Valid for Life
  • On-demand video*
  • E-Book
  • Self-Paced Learning
  • Certificate of Completion

Exam details

  • Mode of Exam : Online
  • Duration : 1 Hour
  • Multiple Choice Questions are asked
  • No. of Questions are asked : 50
  • Passing Marks : 25 (50%)
  • There is no negative marking

This course provides an introduction to accounting principles and practices for business operations. It covers the fundamentals of financial accounting, including the recording, reporting, and analysis of business transactions. The course aims to equip students with the skills to prepare financial statements and interpret financial data in a business context.

Topics covered in the course include:

  • Accounting concepts and principles
  • Double-entry accounting system
  • The accounting cycle
  • Journal entries and ledgers
  • Adjusting entries and trial balance
  • Financial statements preparation (balance sheet, income statement, statement of cash flows)
  • Ratio analysis
  • Cost-volume-profit analysis
  • Budgeting and forecasting
  • Internal control and fraud prevention

The course also emphasizes the use of accounting software to facilitate the accounting process and provide an introduction to how technology is transforming the accounting profession.

By the end of the course, students should be able to:

  • Apply accounting concepts and principles to record and report business transactions
  • Prepare financial statements and use ratio analysis to interpret financial data
  • Use accounting software to manage financial information and streamline accounting processes
  • Understand how accounting information is used for decision-making in a business context

This course is suitable for students who are interested in pursuing a career in accounting or for those who want to develop a foundational understanding of accounting principles and practices for managing a business.

Course Content

Total: 48 lectures
  • The accounting equation and the balance sheet
  • The double entry system for assets, liabilities and capital
  • The asset of stock
  • The effect of profit or loss on capital and the double entry system for expenses and revenues
  • Balancing off accounts
  • The trial balance
  • Trading and profit and loss accounts
  • Balance sheets
  • Trading and profit and loss accounts and balance sheets
  • Accounting concepts
  • Books of original entry and ledgers
  • The banking system in the UK
  • Cash books
  • The sales day book and the sales ledger
  • The purchases day book and the purchases ledger
  • The returns day books
  • The journal
  • The analytical petty cash book and the imprest system
  • Value added tax
  • Columnar day books
  • Employees’ pay
  • Computers and accounting
  • Computerised accounting systems
  • Capital expenditure and revenue expenditure
  • Bad debts, provisions for doubtful debts, and provisions for discounts on debtors 269
  • Depreciation of fixed assets: nature and calculations
  • Double entry records for depreciation
  • Accruals and prepayments and other adjustments for financial statements
  • The valuation of stock
  • Bank reconciliation statements
  • Control accounts
  • Errors not affecting trial balance agreement
  • Suspense accounts
  • Introduction to accounting ratios
  • Single entry and incomplete records
  • Receipts and payments accounts and income and expenditure accounts
  • Manufacturing accounts
  • Departmental accounts
  • Cash flow statements
  • Joint venture accounts
  • Partnership accounts: an introduction
  • Goodwill for sole traders and partnerships
  • Revaluation of partnership assets
  • Partnership dissolution
  • An introduction to the financial statements of limited liability companies
  • Purchase of existing partnership and sole traders’ businesses
  • An introduction to the analysis and interpretation of accounting statements
  • An introduction

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