Master the Double-Entry Accounting System (Free Online Course With Certificate)
Alison Free Online Learning
Key Information
Campus location
Online
Languages
English
Study format
Distance Learning
Duration
3 - 4 hours
Pace
Full time, Part time
Tuition fees
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Application deadline
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Earliest start date
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* free course
Scholarships
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Introduction
This is an introductory course on how to use a double-entry accounting system. It highlights the advantages of using the system in an easy-to-follow manner. Do you struggle to balance your company’s books? Do you need assistance with fiscal reporting to deter fraud? Start this free accounting course today and find the solution to all your frustrating problems.
This Free Online Course Includes:
- 3-4 Hours of Learning
- CPD Accreditation
- Final Assessment
Alison Certificates
All Alison courses are free to enrol study and complete. To successfully complete this Diploma course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Diploma course, you have the option to acquire an official Diploma, which is a great way to share your achievement with the world.
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- Include it in your CV, professional social media profiles and job applications.
- An indication of your commitment to continuously learn, upskill & achieve high results.
- An incentive for you to continue empowering yourself through lifelong learning.
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Curriculum
Master the double-entry accounting system with this fascinating free online course that instructs you on how it operates, its advantages and how it can increase a company’s profitability. You will learn how this method provides you with more comprehensive data about a transaction compared to the single-entry technique. Nowadays, the majority of modern accounting system structures are based on double-entry accounting and at least two records are altered after all transactions. Generally, you won’t be able to save entries in your system except if the transaction balances.
This course will advise you on how the double-entry method helps accountants in reducing errors. The accounting period differs for different business levels. You use the double-entry system to meet the source of the accounting equation, which states that the assets are identical to liabilities and owner’s equity. There are multiple accounts used to write entries through the use of the double-entry system. You will explore all these significant accounts and where you record all these transactions as you work through this course. A double-entry system also serves to disclose information about the fiscal situation of a company, essential when making critical decisions regarding the future of a business.
The double-entry accounting system has proven to be the most effective method of recording transactions. With this practice, a company can control business operations and examine the comprehensive information available. The system is a dependable method of accounting as every phase of the transaction gets included. The record of both clients and merchants is done for each transaction. Are you interested in accounting or becoming a business owner? If so, this course is invaluable. Why are you waiting? Start this course today and learn how to become an expert in no time!
Module 1
Basic Accounting Introductions
This module introduces you to an account and the basic terminology, meaning, and accounting functions. In addition, you will learn about assets and liabilities and how to go about recording an accounting transaction.
Module 2
Common Transactions
This module will introduce you to what a transaction is and the different types of transactions in the double-entry accounting system. Additionally, you will learn about the different types, expenses and discounts that may affect an account.
Module 3
Course assessment
Program Outcome
What You Will Learn In This Free Course
- Define what an asset is.
- Summarise the double-entry accounting system.
- Distinguish between a trade and a cash discount.
- Outline how cash sales affect assets.
- List different types of assets.
- Explain what is meant by purchasing in cash.
- State what a liability is.
- Recall what a transaction is.
- Outline the different types of transactions.
Complete This CPD Accredited Course & Get Your Certificate!
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Career Opportunities
Financial Accountant
Financial Accountants are math whizzes who interpret the language of business to the rest of the world. Their analysis of the economic stability of the company enables other departments to make budgeting and investment decisions.
Public Accountant
Accounting and finance are at the epicentre of significant developments owing to the privatisation and globalisation of various economies. Public Accountants are masters of the language of business and provide diverse services to protect the public interest. They audit companies such as local businesses or Fortune 500 companies to ensure business decisions that would accelerate growth and even help individuals plan their financial futures.
Accounting Associate
Balancing is as much a part of a tightrope walker’s life as it is of an Accounting Associate’s job. Contrary to stereotypical images of accountants peering at spreadsheets all day and deciphering alien-appearing equations, it can be quite exciting to lay the groundwork for accounting procedures as you get a behind-the-scenes glimpse into organizational functions.
Accountant
“Behind every good businessman is a great accountant” to ensure an organization’s financial records are accurate and appropriate taxes are paid on time. An Accountant provides the information needed by investors and business owners to evaluate how a company is doing. And “accountants do it all without losing their balance.”