Financial Accounting Fundamentals

About this course

Every reliable set of accounts rests on sound bookkeeping. Over seven days this course builds that foundation step by step, from the accounting equation and the rules of double entry to journals, ledgers and the trial balance.

You will practise recording real-world transactions, handling receivables, payables and inventory, preparing reconciliations and processing period-end adjustments such as accruals, prepayments and depreciation. By the end you will be able to take a set of records through to a simple income statement and balance sheet, ready for further study or day-to-day work in a finance team.

What you'll learn

• Apply the accounting equation and the rules of double entry
• Record transactions in journals and post them to the ledger
• Prepare and correct a trial balance
• Account for sales, purchases, receivables, payables and inventory
• Process period-end adjustments for accruals, prepayments, depreciation and doubtful debts
• Prepare bank and control account reconciliations
• Produce a simple income statement and balance sheet from adjusted records

Curriculum

Who it's for

New and aspiring accountants, bookkeepers and finance assistants who want a solid grounding in financial accounting.

Before you start

• Basic numeracy and comfort working with spreadsheets

Part of these Alalamia diplomas

• Alalamia Diploma in Financial Management and Business Accounting