Being financial in character, accounting is affected by environmental factors that involve money. The state sets monetary and fiscal policies, controls money supply and interest rates. Bankers, investors, financiers, and consumers also watch money closely. Money is a major component of the economy and its flow and supply affect the cost of doing business, as well as people’s everyday lives. Accounting considers the time value of money in many of its standards and practices because of its effect on financial information that will be used for economic decisions. Understanding the time value of money concept is necessary because several accounting standards apply the concept in important measurement principles. It improves the faithful representation of information in financial statements.
About the course
Take note of the following useful information about the course. The course tools are available in all lessons and will help with note taking and in your interaction with the teacher and the learning community.
At the end of this course, you shall be able to
- Narrate the history of accounting
- Explain the events in history that influenced the development of accounting
- Identify and describe the main branches of accounting
- Know the different certifications and professional career opportunities available to accountants
Runtime Approximately 4 hours; Access period 60 days from registration date; Learners ABM Senior High school and college accounting students, entrepreneurs, and non-accountant professionals. This course is included in the series on Fundamentals of Accounting, the first foundation course in accountancy, under the lessons, Introduction to Accounting and Branches of Accounting.
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Notes Section. Notes are effective aids when reviewing course materials. Toggle the notes section near the bottom of the page and take notes without being distracted from the main presentation, which opens in a separate window. If you notify your instructor, you may expect a response which only you can view. View your notes in the history box. You can view, save, print, or download your historical notes.
Floating Note Icon. In a lesson or topic page, a floating icon like the one above provides an alternative way of taking notes. Click the icon and a window will pop up where you may enter your notes. You can drag the icon to any location on the page you find convenient.
Notification Icon. You may inform and share your notes with your instructor. When the instructor responds to your note, a red bell icon will show in the menu bar. Check your notes for the instructor’s reply.
For each lesson or topic, you can chat and exchange comments with your group mates. Comments are moderated. Observe proper decorum and language. Active participation may be scored and included in the grading criteria for the course. Ask your teacher for the details of how online performance is factored into the final grade.
