Diploma in Accounting - Core Practices and Theory
Details
Good accounting practices and procedures are needed in every business and organisation. Details of their trading transactions need to be accurately recorded so that they know what their financial situation is at any time. In this free online Diploma course, students will learn about the core practices involved in recording these details, from understanding debits and credits and using simple T-accounts to closing out the accounts at the end of an accounting period, producing the statement of retained earnings and balance sheet. Detailed examples are worked through on a transaction-by-transaction basis, helping the students understand how and why each step is necessary. Once the student has a basic knowledge of the practice and procedures involved on a daily basis, they are introduced to the more formal theory of accounting, the assumptions, principles and modifying conventions, the FASB conceptual framework and the main objectives of financial reporting. This free online accounting course will be of great interest to entrepreneurs and business professionals who would like to get a thorough introduction to accounting practices and theory, and to any learner who is interested in accounting as a future career.
CERTIFICATIONTo qualify for your official ALISON Diploma, Certificate or PDF you must study and complete all modules and score 80% or more in each of the course assessments. A link to your Diploma certificate will then appear under the My Certificates heading of your My Account page.
LEARNING OUTCOMESHaving studied this course learners will be able to: - Identify and describe the three basic forms of business organizations; - Determine the effects of individual transactions on the financial statements; - List and describe the four main financial statements; - Classify and record financial transactions; - List and execute the steps in the accounting cycle; - Work with t-accounts and journals; - Describe how to use adjusting entries; - Describe how to close out a set of accounts using a worksheet; - Describe how to prepare a classified balance sheet; - Identify and discuss the underlying assumptions, major principles and modifying conventions of accounting.
Outline
Module 2: Recording Business Transactions in Accounting
Module 3: Adjustments for Financial Accounting
Module 4: Diploma in Accounting - Core Practices and Theory First Assessment
Module 5: Completing the Accounting Cycle
Module 6: Accounting Theory
Module 7: Diploma in Accounting - Core Practices and Theory Second Assessment
Module 8: Diploma in Accounting - Core Practices and Theory Final Assessment
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