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"Introduction to Accounting: Fundamental Accounting of Small Business" is a comprehensive course designed to provide learners with a basic understanding of accounting principles and practices for small businesses. The course covers essential accounting concepts and techniques used in recording, analysing, and reporting financial transactions.
£79.99
Course Access
Unlimited Duration
Last Updated
01/06/2023
Students Enrolled
00
Course Duration
2 hours, 25 minutes
Course Instructor
Certification
"Introduction to Accounting: Fundamental Accounting of Small Business" is a comprehensive course designed to provide learners with a basic understanding of accounting principles and practices for small businesses. The course covers essential accounting concepts and techniques used in recording, analysing, and reporting financial transactions.
The course begins with an introduction to accounting, including the accounting cycle, types of financial statements, and basic accounting concepts such as assets, liabilities, equity, revenue, and expenses. Learners will also learn about the different types of accounting systems and the accounting software tools used in small businesses.
Next, the course covers the fundamentals of bookkeeping, including recording transactions, maintaining journals and ledgers, and preparing financial statements. Learners will also learn how to perform bank reconciliations and prepare trial balances.
The course then moves on to the principles of financial analysis, including ratio analysis, break-even analysis, and cash flow analysis. Learners will also learn about budgeting and forecasting, as well as the importance of financial controls and internal auditing in small businesses.
Finally, the course concludes with an overview of tax accounting and compliance for small businesses, including the different types of taxes and tax reporting requirements.
By the end of this course, learners will have gained a practical understanding of accounting principles and practices for small businesses, and will be able to use their knowledge to manage financial records, analyse financial performance, and comply with tax requirements.
What you will learn
- Basic accounting concepts and terminology, including assets, liabilities, equity, revenue, and expenses.
- Types of accounting systems and software tools used in small businesses.
- Fundamentals of bookkeeping, including recording transactions, maintaining journals and ledgers, and preparing financial statements.
- Bank reconciliations and preparing trial balances.
- Principles of financial analysis, including ratio analysis, break-even analysis, and cash flow analysis.
- Budgeting and forecasting for small businesses.
- Financial controls and internal auditing in small businesses.
- Tax accounting and compliance for small businesses, including the different types of taxes and tax reporting requirements.
- Record financial transactions accurately and efficiently using appropriate accounting systems and software tools.
- Prepare and interpret financial statements, including balance sheets, income statements, and cash flow statements.
- Analyse financial performance using ratio analysis, break-even analysis, and cash flow analysis techniques.
- Develop and manage budgets and forecasts for small businesses.
- Understand the importance of financial controls and internal auditing in maintaining accurate financial records.
- Comply with tax requirements for small businesses, including preparing and submitting tax returns.
Is this course for you?
This course is ideal for those who work in or aspire to work in the following professions:- Small business owners: The course is ideal for small business owners who want to gain a practical understanding of accounting principles and practices in order to manage their own financial records and make informed business decisions.
- Aspiring entrepreneurs: The course can also be beneficial for aspiring entrepreneurs who are interested in starting their own small business and want to learn the basics of accounting.
- Accounting and finance professionals: The course can provide a useful refresher for accounting and finance professionals who want to brush up on their knowledge of small business accounting.
- Non-financial professionals: The course is also suitable for non-financial professionals who want to gain a basic understanding of accounting principles and practices in order to work effectively with financial information in their roles.
- Students: The course can be helpful for students who are studying business, accounting, or finance and want to gain a practical understanding of small business accounting.
Why Choose this course?
- Conducted by industry experts
- Get Instant E-certificate
- Fully online, interactive course with Professional voice-over
- Developed by qualified professionals
- Self-paced learning and laptop, tablet, smartphone friendly
- Tutor Support
Certification
Upon successful completion of this course, an instant e-certificate will be generated free of charge. The digital version of the course transcript is available for £2.99.Course Instructor
Accredited by
UKRLP Registered Provider
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Course Content
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- What is Financial Accounting 00:13:00
- Double Entry & Accounting Rules 00:10:00
- Accounting Process and Introduction to Financial Statements 00:14:00
- What is Accounting Equation and How Financial Statements are Linked 00:21:00
- Summary and Classify the accounts 00:07:00
- Internal transactions – Depreciation and Accruals 00:12:00
- Sample Transactions in Accounting – Excercise done together 00:06:00
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- Key Accounting Policies 00:06:00
- Depreciation Policies 00:12:00
- Controlling Aspects of Fixed Assets of Business 00:13:00
- Inventory Accounting & Controls 00:11:00
- Revenue Accounting Policy and Segmentation 00:08:00
- Expenses Accounting and Working Capital Concepts 00:12:00
- Get your Certificate and Transcript 00:00:00
