Course Overview

The Basic Accounting Course is designed to provide learners with a solid foundation in accounting principles and practices. Participants will explore key accounting concepts such as double-entry bookkeeping, financial statements, and essential accounting terminology. The course also covers the preparation of balance sheets, income statements, and cash flow statements. By the end of the course, learners will have the skills to manage basic accounting tasks and maintain accurate financial records.

 

Prerequisites

No prior accounting knowledge is required.

Target Audience

This course is ideal for individuals with little to no accounting background who want to gain a basic understanding of accounting. It is suitable for small business owners, managers, and students who need to manage financial records.

Course Highlights

  • Learn the fundamentals of accounting, including double-entry bookkeeping.
  • Understand how to prepare and interpret financial statements.
  • Explore essential accounting terminology and concepts.
  • Hands-on exercises in maintaining financial records and journal entries.
  • Gain insights into the use of accounting software and tools.

Course Objectives

By the end of this course, learners will be able to:

  • Apply the fundamental principles of accounting to manage financial records.
  • Perform double-entry bookkeeping and maintain accurate journals and ledgers.
  • Prepare financial statements, including balance sheets, income statements, and cash flow statements.
  • Record and adjust journal entries for various transactions.
  • Utilise accounting software to manage financial records and generate reports.
  • Interpret basic financial statements and assess business performance using financial ratios.
  • Identify common accounting errors and apply corrective measures to maintain accurate financial records.
  • Demonstrate an understanding of the accounting cycle from recording to reporting.
  • Implement effective bookkeeping practices to support daily accounting tasks.
  • Conduct basic financial analysis to support business decision-making.

Course Outline

Instructional Methods:
Group discussions on basic accounting concepts, practical exercises in understanding financial terminology, and demonstrations of accounting practices.

Topics Covered:

  • Overview of accounting: Purpose and importance.
  • Key accounting concepts: Assets, liabilities, equity, revenue, and expenses.
  • Understanding the accounting equation: Assets = Liabilities + Equity.
  • Introduction to financial statements: Balance sheet, income statement, and cash flow statement.
  • Accounting cycle: Recording, classifying, and summarising transactions.

Instructional Methods:
Practical exercises in double-entry bookkeeping, group discussions on ledger entries, and demonstrations of trial balance preparation.

Topics Covered:

  • Introduction to double-entry bookkeeping: Debits and credits.
  • Recording transactions in the journal and ledger.
  • Preparing a trial balance: Identifying and correcting errors.
  • Importance of accuracy in bookkeeping.
  • Reconciling accounts and maintaining financial records.

Instructional Methods:
Hands-on exercises in preparing financial statements, group discussions on financial statement analysis, and practical demonstrations of accounting software.

Topics Covered:

  • Preparing the balance sheet: Assets, liabilities, and equity.
  • Creating the income statement: Revenue, expenses, and profit.
  • Understanding the cash flow statement: Operating, investing, and financing activities.
  • Using financial statements to assess business performance.
  • Common financial statement mistakes and how to avoid them.

Instructional Methods:
Practical exercises in recording journal entries, group discussions on adjusting entries, and case studies on correcting errors in financial records.

Topics Covered:

  • Understanding journal entries: How and when to record them.
  • Adjusting entries: Accruals, deferrals, and estimates.
  • Correcting errors in accounting records.
  • Maintaining accurate and up-to-date financial records.
  • Best practices for managing daily accounting tasks.

Instructional Methods:
Demonstrations of popular accounting software, hands-on exercises in using accounting tools, and group discussions on the benefits of digital accounting.

Topics Covered:

  • Overview of accounting software: QuickBooks, Xero, etc.
  • Setting up and managing financial records using accounting software.
  • Automating bookkeeping tasks and generating financial reports.
  • Managing expenses, invoices, and payroll using software.
  • Benefits and challenges of digital accounting for small businesses.

Instructional Methods:
Group discussions on financial analysis techniques, case studies on interpreting financial data, and practical exercises in analysing financial statements.

Topics Covered:

  • Introduction to basic financial analysis: Ratios and metrics.
  • Liquidity ratios: Current ratio, quick ratio.
  • Profitability ratios: Gross margin, net margin.
  • Analysing financial health and performance using financial statements.
  • Practical applications of financial analysis for business decisions.

Certification

A certificate of completion will be awarded upon successful completion of the course.

Course Fees

$788 $488

Basic Accounting

Master Basic Accounting Principles to Manage Financial Records

Apply Now

Register for the Basic Accounting Course

Master Basic Accounting Principles to Manage Financial Records

Oops! We could not locate your form.