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Basic Accounting Concepts
Accounting is a vital activity in any business and is carried out to some extent in companies of every size. It is often referred to as the ‘language of business’ as it helps to track analyse and communicate business activity. However you must understand some vital concepts like double-entry bookkeeping and financial statements to record and interpret financial information. This short course will explain these critical concepts starting with discussing the role and importance of accounting.Next you will learn about accounting standards and essential notions like the ‘going concern’ principle and ‘accrual concept’. You will also learn about double-entry bookkeeping and the process involved in accounting for inventory drawings and expenses. Following this you will research the equations used and the components of a balance sheet. We explain the income statement in detail and you will learn about its features like the net income interest and expenses.We will introduce you to trial balance and comprehensive income financial position and cash flow statements. Finally you will learn about budgeting and auditing in business. Whether you are a small business owner a new bookkeeper or a prospective or seasoned accountant the information contained within this course will help you understand the role and concepts of accounting or serve as a reference document for important business information. Start now and learn the basic accounting concepts in under three hours.
Disclaimer: Product information, including title, description, and images, is sourced/provided by our affiliate partner, Alison US CA.
Disclaimer: Some of the links on this website are affiliate links, meaning we may earn a commission if you click through and make a purchase. This comes at no additional cost to you.
By clicking the button above, you acknowledge that you will be redirected to a third-party website and agree to their terms and conditions.
Product information, including title, description, and images, is sourced/provided by our affiliate partner, Alison US CA.
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Share this product with a friend:
Refer a friend and earn 0.05 CEC when they click the link, plus an additional 1.00 CEC if they register. Share this Product and boost your earnings together!
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