Introduction to Accounting Basics Course Guide

This course provides an introduction to the main business types and structures, and will include but not be limited to the definition of a business, the various business types, how they are structured and their functions.

This course will provide an introduction and basic overview of accounting and how it is used within a business. It will include but not be limited to the definition of accounting, the function of accounting equation and a look at a range of accounts and how they are classified.

This course will provide an introduction to a range of business transactions and will include but not be limited to the definitions of key words within various transactions, identifying what an invoice is, and the importance of keeping business transaction records.

This course will take a close look at accounts and their definitions, including but not limited to the expanding accounting equation, definitions for a range of accounts and their classifications, as well as the calculation for Owner’s Equity closing balance.

This course will provide an introduction to how different business transactions affect accounts, including but not limited to identifying accounts as debit or credit accounts, recognising if a debit or credit transaction increases or decreases an account, and identifying what accounts make up a Balance Sheet.

This course will provide an introduction to Financial Statements and their importance to a business, and will include but not be limited to identifying what Financial Statements are, the function of the Trial Balance, and the function of the Balance Sheet and Income Statement.

This course provides a basic overview of Value Added Tax (VAT), including but not limited to the meaning of VAT, identifying goods and services that VAT does not apply to, and understanding the difference between invoice and payments accounting methods.