Basic Accounting Concepts

Accounting is crucial to the successful operation of a company since it records and analyses business activity. Understanding its basic concepts is advisable to successfully distribute the accounting role in a business of any size. This course will cover important concepts from scratch, like accounting standards, double-entry, financial statements and more, and will help you to understand these various divisions so you feel competent.

What You Will Learn In This Free Course

Introduction to Accounting and Accounting Concepts

In this module, you will be introduced to accounting as a business function and learn its role and importance. You will learn about foundational concepts like the accrual and going concern concepts as well as the importance of accounting standards. Finally, you will learn about double-entry bookkeeping and the balance sheet.

Accounting Statements, Budgeting and Auditing

In this module, you will learn about the income and cash flow statements in detail, understanding their components and importance. Also, you will learn about trial balance and statements of comprehensive income. Finally, you will learn about budgeting, its importance to a business strategy, as well as the function of auditing.

Course assessment