FOUNDATIONS OF ACCOUNTING

Course overview

Foundations of Accounting introduces the principles and records used to report business activity. You will connect accounting concepts with practical tasks, from recording transactions to preparing financial statements for different entities.

What you will study

Accounting concepts; books of account and transaction recording; assets and liabilities; revenues and expenses; correction of errors; preparation of financial statements for different entities.

How to study

Work through the course sections in order and check which resources are available. Read the relevant material before attempting practice activities. Keep a record of difficult topics and questions to discuss with your instructor.

Preparing for assessments

Before attempting an assessment, read its instructions, time limit and mark allocation. Show your reasoning or workings clearly, check your answers, and use feedback to guide your revision.