Runtime 1.5 hours; Access period 60 days from registration date; Learners Accounting students, entrepreneurs, non-accountant professionals; Recommended previous course Rules of Debit and Credit; Recommended next course Accounting Cycle.
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Businesses deal with diverse types of transactions. For many, these transactions occur thousands of times daily. Despite this number, transactions fall within a few major types of activities. Except for a few major items within these activities, most transactions are routine and recurring, like sales, purchases, cash receipts and disbursements. The first tasks of accounting involve recording these transactions and bookkeeping.
COURSE OBJECTIVES
The nature of a transaction should be precise before these can be recorded properly. Most of these are easy to identify because they are common and recurring. Proper classification is important so that the information reported will be useful to primary users of information in evaluating the financial position and performance of an enterprise.
RECOMMENDED NEXT COURSE
The recommended next course, Accounting Cycle, introduces the stages and steps in the accounting cycle from recording of the original transaction to the preparation of financial statements, and closing of the books to prepare for the next accounting cycle.
