Understanding Debits and Credits

Course details

A skilled and professional accountant in modern businesses is a valuable asset to the organisation. An accountant plays numerous administrative roles in an organisation and performs the various financial functions such as financial data management, financial data analysis, advising on business operations, preparation of financial statements, supervising and assisting with taxation issues, etc.
The unit focuses on the role of the accountant, accounting personnel and different methods of accounting. It also describes the advantages of the double-entry system, the nature of accounting functions and various types of accounting including a look at the meaning of debit and credit and the differences between bookkeeping and accounting.
In this unit, candidates will learn about the organisation of accounting and finance, the bases of accounting and accounting terminology.
Objectives:
After completing this course learners will be able to:
Describe the activities of an accountant
Discuss the roles of accounting personnel and the accounting function in an organisation
Describe the advantages of the Double-Entry System
Explain single-entry and double-entry bookkeeping
Understand the types of Accounting
Differentiate between Bookkeeping and Accounting
Program Content:
Lesson(s):
Introduction to the Role of an Accountant
Topics:
The Role of an Accountant
Accounting Personnel
Methods of Accounting
Advantages of Double-Entry System
Types of Accounting
Distinction between Bookkeeping and Accounting
Objectives of Bookkeeping
Organisation of Accounting and Finance
Bases of Accounting
Accounting Terminology Updated on 23 October, 2017