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Balancing the books is at the heart of all business management. Financial accountants are concerned with the recording, summarising and interpreting of financial information and accounts. They must keep accurate and up-to-date records for different types of businesses.

The overall aim of this course is to introduce students to the essential principles of recording and organising business and financial transactions to which every organisation will need to adhere. Students will identify sources of accounting information and how it is then gathered and organised, using the dual entry bookkeeping system, in order to produce a trial balance.

On successful completion of this course, students will be able to contribute effectively to the accounting and bookkeeping function of an organisation and understand how this is then the basis for producing financial statements. Students will be equipped with the knowledge and skills required to progress to a higher level of study.

By the end of this course a student will be able to:

  1. Record business transactions using double entry bookkeeping, books of prime entry, journals and ledger accounts.
  2. Prepare a trial balance for a given organisation from data provided.
  3. Perform bank reconciliations to ensure organisation and bank records are correct.
  4. Perform control account reconciliations for accounts receivable and accounts payable.

There are no formal prerequisites or qualifications required to enroll. Here are a few things to keep in mind:

  • As the course is conducted entirely in English, we recommend that learners have a good grasp of the English language, both written and spoken, to gain maximum benefit.
  • Since this is an online course, you’ll need a computer, tablet, or smartphone with internet access. Familiarity with basic computer skills would be advantageous.
  • While you can learn at your own pace, dedicating consistent time to the course will help you understand and retain the material better.

              Registration process:

              • Based on course settings, students might be requested to fill in an application (online) and provide us with correct information about themselves before being able to proceed with the course.
              • We will contact you by email if we need more details after submitting your application.
              • After approval, you can proceed with payment and start the course.

              Materials are organized under different lessons. The lessons consist of self-study contents including reading-texts, practical activity, assignment and quizzes in which students can engage and learn.

              The course has supervisors and instructors; they are available online to support students by answering their questions or explain different topics to them. This will be managed under discussion section, forums, direct contact or by online meetings.

              When student successfully completes all lessons, quizzes and pass assignment, he/she will be offered a certificate.

              The Course is available as an individual course or under Pearson Qualifications (HNC/HND) in Business. The price will be updated based on the selected option. The individual course fee is higher because Awarding Body applies higher fees for individual enrollment. At the same time, a discount will be automatically added when you order HNC/HND in Business or if you’re already enrolled under these qualifications.

              Courses awarded by Next Gates have no discount, and the fee is already reduced.

              * Note that prices don’t include VAT. Additional fee might be applied at checkout.

              Course Curriculum

              Section One
              Introduction to Financial Accounting 01:30:00
              Accounting Concepts and Key Terminologies 01:30:00
              The Accounting Equation 01:30:00
              RFT Progress Quiz 01/10 00:30:00
              Types of Business and Business Entities 01:30:00
              Recording of Financial Transactions 01:30:00
              The Accounting Process 01:30:00
              RFT Progress Quiz 02/10 00:30:00
              Section Two
              The Ledger Accounts 01:30:00
              The Trial Balance 01:30:00
              Accounting for Sales and Purchases 01:30:00
              RFT Progress Quiz 03/10 00:25:00
              Rectification of errors 01:30:00
              Financial Reports & Financial Statements 01:30:00
              Preparing Financial Statements – Basics 01:30:00
              RFT Progress Quiz 04/10 00:25:00
              Section Three
              Partnership Accounts – I 01:30:00
              Partnership Accounts – II 01:30:00
              Accounting for Companies 01:30:00
              RFT Progress Quiz 05/10 00:25:00
              Preparing Financial Statements from Incomplete Records 01:30:00
              Understanding the Statement of Profit & Loss 01:30:00
              Understanding the Statement of Financial Position 01:30:00
              RFT Progress Quiz 06/10 00:25:00
              Section Four
              The Statement of Cash Flows 01:30:00
              Auditor’s Report, Statement of Changes in Equity and Notes 01:30:00
              Revenue & Capital Nature Expenses 01:30:00
              RFT Progress Quiz 07/10 00:25:00
              Accounting for Inventories 01:30:00
              Accounting for Bad and Doubtful Debts 01:30:00
              Accruals and Prepayments 01:30:00
              RFT Progress Quiz 08/10 00:25:00
              Section Five
              Depreciation 01:30:00
              Control Accounts and Their Reconciliations 01:30:00
              Accounting for Intangible Assets 01:30:00
              RFT Progress Quiz 09/10 00:25:00
              Liabilities, Provisions and Contingencies 01:30:00
              Reconciling Bank Balances with Books of Accounts 01:30:00
              Interpretation of financial statements 01:30:00
              RFT Progress Quiz 10/10 00:30:00

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