Basic Accounting training
Our Basic Accounting course introduces the key principles behind accounting for managers in businesses.
It provides a means for any business to record and monitor its flow of money. This is an essential process for controlling the financial operations of the business, whilst at the same time providing information for management decision-making. Without such a formalised process for reporting financial information, it would be impossible to maintain an appropriate watch on the funds of a business and, therefore, to ensure its long-term future.
This online course introduces the key principles for managers, beginning with an overview of the process of bookkeeping and leading on to an outline of the three key financial statements: the balance sheet, the profit and loss account and the cash flow statement. We first look at the process of bookkeeping and show how it is used to gather information for the preparation of formal accounts. The overview provided will allow you to see how each individual transaction is recorded and how, in turn, each one influences the overall financial picture provided by the accounts.
In addition, we consider both the advantages and disadvantages of the accounting systems described.
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Aims of the Basic Accounting course
The learning material has been developed by UK university professors and is mapped against OFQUAL awarding body learning outcomes and assessment criteria.
By the end of this course you will be able to:
- Understand the techniques used to gather and record financial information
- Understand the different methods commonly used to report financial information
- Understand the importance of cash flow and working capital
- Understand common business categories
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