Originally published: 26/09/2019 09:49
Publication number: ELQ-95497-1
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The Basics of Financial Accounting

Let's get to grasps of how to perform the basics of financial accounting.

Description
This course is designed to develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements and assist students and learners to various accounting techniques that can be used in the every day world of finance as well as prepare for your exams.

By the end of this course, you will be able to perform the following:

1. Explain the context and purpose of financial reporting.

2. Define the qualitative characteristics of financial information and how to make use of this information.

3. Demonstrate the use of double-entry and accounting systems.

4. Record transactions and events and understand how and where to record various transactions and events.

5. Prepare a trial balance (including identifying and correcting errors), and how to make use of the trial balance in order for you to start preparing the financial statements for an entity.

6. Prepare basic financial statements for incorporated and unincorporated entities.

7. Prepare simple consolidated financial statements and use these tools to build onto more complex consolidations.

8. Interpretation of financial statements and understand how ratios are used for investors and business owners.

9. Prepare a bank reconciliation.

10. And much, much more...

This Best Practice includes
The course contains 25 videos for deep understanding.

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