Accounting rules, journal, ledger, trial balance, final accounts.
Description
This course includes the following aspects:
1. Accounting basics:
· Learn about the basic foundation of accounting and book-keeping
· Understand how an accounting equation works
· Understand the difference between book-keeping and accounting
· Understand the importance of learning book-keeping and accounting
2. Double-entry book-keeping
· Understand the methodology of using double-entry book-keeping
· Understand the advantages of using double-entry book-keeping
· Understand the correct use of debit and credit
· Understand the process of recording the transactions under this method
· Understand the process of recording transactions using various business documents
· Learn about different formats of accounts
· Learn the process of preparing journals and ledgers
· Learn about the process of preparing journals
· Learn about the process of preparing ledgers
· Learn about the process of preparing a cash book
· Learn about the discounts like trade discount and cash discount
3. Financial Statements
· Learn how to prepare a trial balance
· Discuss the errors not traced by trial balance
· Understand how to prepare the financial statements using a trial balance
· Learn about the process of preparing financial statements – Income statement and Statement of Financial Position
· Learn about the basic adjustment of closing inventories
· Learn about the basic adjustment of profit for the year
· Understand the formats of Income statements and Statements of financial position
· Understand the difference between different assets and liabilities
Who this course is for:
- IGCSE and O Level Accounting student and also those who wish to learn accounting basics.
What you’ll learn
- This course covers all the topics of covering the Cambridge IGCSE and O Level Accounting syllabuses (0452 and 7707).
- Students will be able to learn about journals, ledgers, books of prime entry, financial statement with all necessary adjustments
- Students will be able learn about the financial accounting rules and principles.
- Students will be able to understand different formats of the financial statements