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10cf746e54 After completing the accounting course, you are expected to be aware of the importance of prudential financial management and the factor it plays in the success or failure of businesses and organizations. Categories AccountingTags basics, lesson Leave a Reply Cancel reply Your email address will not be published. Fundamentals of Accounting Learn essential accounting principles and concepts. You will also learn how to create a general journal and ledger. By understanding and applying these principles you will be able to read, prepare, and compare financial statements with clarity and accuracy.The bottom-line is that the ethical practice of accounting mandates reporting income as accurately as possible and when there is uncertainty, choosing to err on the side of caution. Illustration: Identifying the Types of Accounts .
Ledger: Posting a transaction from the journal . 2016-05-16 19:05:33 Danny Henry United Kingdom Very helpful refresher course on accounting, it was quite startling to learn about the current and non- current liabilities, and how they play out on the balance sheet. Lesson 2 Accounting Elements: Assets, Liabilities, and Capital The three major elements of accounting are: assets, liabilities, and capital. Build your learner profile. Liabilities are what the company owes to creditors against those assets Equity is the difference between the two and represents what the company owes to its investors/owners. The objective of accounting, Elements/Account Heads, Separate Entity Concept . Replacing Goods a/c with Purchases and Sales a/c's . ALISON's accounting course will help you gainknowledgeof prepaid and accrued expenses, recording, capital account, closing and posting entries.