Financial Accounting (Free Online Course With Diploma)
Alison Free Online Learning
Key Information
Campus location
Online
Languages
English
Study format
Distance Learning
Duration
10 - 15 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
The free online course on financial accounting teaches you about the streams of accounting, as well as the concept of financial statements and the basic structure of a balance sheet. You will learn about the components of a profit and loss account, as well as the concept of conservatism and depreciation. You will also be able to explain the concept of ratio analysis. Start this course today to improve your understanding of financial accounting.
This Free Online Course Includes:
- 10-15 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.
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Alison offers 3 types of Diplomas for completed Diploma courses:
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- Framed Diploma: a physical version of your officially branded and security-marked Diploma in a stylish frame, posted to you with free shipping.
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Curriculum
Financial accounting is a free online course that begins by introducing you to the streams of accounting, as well as the concept of financial statements and the basic structure of a balance sheet. The course will also introduce you to the major components of a profit and loss account, as well as the concept of conservatism and depreciation. Cash flow statement as the summary of cash flows (receipts and payments) during an accounting period will also be covered in this course.
The course then explains corporate governance as a collection of mechanisms, processes and relationships by which a company is controlled and managed. You will learn about the main principles of corporate governance, as well as how Enron failed to use proper corporate governance. This course will teach you about accounting standards and principles, as well as the evolution of accounting and how to record financial transactions.
Furthermore, this course will help you get familiar with the interpretation and analysis of financial statements, as well as introduce you to the concept of ratio analysis. You will learn about the ratio and financial statement analysis for TCS. This free online course will be of great interest to students, researchers, and anyone with an interest in financial accounting and preparing financial statements. So, register for this course and start your next learning journey today.
Module 1
Introduction to Accounting and Financial Statements
In this module, you will be introduced to financial accounting and the three streams of accounting. You will learn about financial statements, the different formats of the balance sheet as well as the basic structure of a balance sheet. You will also learn about the types of assets and the equation for calculating assets and owners' funds.
Module 2
Profit and Loss Account
In this module, you will be introduced to the profit and loss account. You will learn about the major components of a profit and loss account which are income and expenses. You will learn about the basic structure of the profit and loss account as well as how to calculate it. You will then be introduced to the concept of conservatism and depreciation, the methods of depreciation as well as inventory valuation.
Module 3
Cash Flow Statement
In this module, you will be introduced to the cash flow statement as the summary of cash flows (receipts and payments) during an accounting period. You will learn about the different types of cash flow statements, cash and cash equivalents and financial activities. You will then be introduced to operating activities by the direct method as well as how to prepare a cash flow statement.
Module 4
Corporate Governance
In this module, you will be introduced to corporate governance as the collection of mechanisms, processes and relationships by which a company is controlled and managed. You will learn about the main principles of corporate governance which are: Transparency, Accountability, Trusteeship and Ethics. You will learn about the three models of corporate governance as well as Enron’s failure of having proper corporate governance.
Module 5
Diploma in Financial Accounting - First Assessment
You need to score 80% or more to pass.
Module 6
Introduction to Accounting Standards and Principles
In this module, you will be introduced to accounting standards and principles. The accounting principle refers to the communication of the results of the business to the outside world. You will learn about accounting concepts such as business entity, dual aspect, cost, and consistency. You will learn about the evolution of accounting as well as how to record financial transactions.
Module 7
Case Study: Zee TV and Hindalco
In this module, you will be introduced to Zee TV, an entertainment television company as well as Hindalco limited, a leading aluminium and copper manufacturer. You will be presented with both companies’ financial statements and you will learn how to prepare a profit and loss account from it as well as a balance sheet.
Module 8
Ratio Analysis and Return on Equity
In this module, you will be introduced to the Interpretation and Analysis of Financial Statements. You will learn about ratios and ratio analysis, as well as the different types of ratios. You will also be introduced to horizontal analysis, common-size statements, trend analysis, as well as return on equity.
Module 9
Ratio and Financial Statement Analysis
In this module, you will be introduced to ratio and financial statement analysis for TCS. You will learn about different types of combined ratios and their equations. You will also learn about company analysis as well as ratio and financial statement analysis using RIL company data.
Module 10
Diploma in Financial Accounting - Second Assessment
You need to score 80% or more to pass.
Module 11
Course assessment
Program Outcome
What You Will Learn In This Free Course
- Explain the difference between tangible and intangible assets.
- Outline the equation for assets and owners fund.
- List the elements of the profit and loss account.
- List the three qualitative characteristics of conservatism.
- Explain the importance of a cash flow statement to investors.
- Describe the meaning of the term corporate governance.
- Describe the influence Kautilya Arthshastra had on accounting.
- Explain what is meant by a Minimum Alternate Tax.
- Identify the formula for calculating profit and loss.
- Define Appropriation of Profit in accounting.
- Explain the two major financial statement analyses.
- Describe what is meant by a ratio in accounting.
- Explain what is meant by market capitalization in accounting.
- Explain the importance of an income statement.
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Career Opportunities
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