Accounting Basics in 90 minutes

Looking to understand accounting quickly? This course is designed for beginners and those struggling with the fundamentals of accountancy. We start with a high-level overview, breaking down each concept in a simple, clear way. Then, we delve into the details, ensuring you gain a solid grasp of accounting principles.

Whether you're looking to improve your accounting knowledge for work, starting a business, preparing for an accounting module, or simply have a general interest in finance, this course is for you.

We cover a comprehensive range of topics, including:

• The Origins of Accountancy: Explore the history and evolution of accounting practices.
• Debits & Credits: Master the fundamental building blocks of double-entry bookkeeping.
• Cash vs. Profit: Understand the crucial difference between cash flow and profitability.
• Bookkeeping Methods: Learn about various bookkeeping methods, including traditional and bank transactional bookkeeping.
• Sales & Purchase Day Books: Understand how to record sales and purchases efficiently.
• Invoices & Transactions: Learn how to properly record invoices and transactions in accounting records.
• VAT Calculation: Get a clear understanding of how to calculate and handle VAT.
• Audit Adjustments & Trial Balance: Learn about audit adjustments and how to prepare a trial balance.
• Financial Statements: Master the preparation of key financial statements:
  • Profit & Loss Account
  • Balance Sheet
  • Balance Sheet Control Accounts
  • Cash Flow Statement

Bonus Section: Investment Decision Making

Gain practical skills in investment decision making with our bonus section. We'll explain useful investment models using real-life examples:

• Sunk Cost Analysis
• Return on Investment (ROI)
• Internal Rate of Return (IRR)
• Net Present Value (NPV)

To help you track your progress and understand the calculations, all course tables are provided in an Excel spreadsheet ("Workings Sheets") within the resources section. These include all formulas and cell links, allowing you to see exactly how numbers are calculated.

Happy Studying!