Master the six most important Accounting rules by understanding the basic principles. You will be introduced to the background of Accounting and you will learn the definitions for the six most important Accounting elements that are used fundamentally at all levels of Accountancy.
Even if you have no prior knowledge or understanding of Accounting, this course will provide you with the most important Accounting basics. At the end of the course, you will be able to describe the definitions of the most important universal Accounting elements. You will also be able to classify any specific account according to the Accounting elements and you will know which Accounting rule to apply.
This course was designed for everyone from any background who wants to learn the most important Accounting rules. Whether you're a beginner starting to learn Accounting or an advanced student becoming a chartered accountant, you will need to know these most important Accounting rules.
We discuss what is accounting and we explain why it is important.
Accounting is a language for understanding financial information.
We discuss why accounting is needed for decision-making purposes.
We provide a simple diagram to explain how transactions translate into financial information
A quiz testing your understanding of what accounting is and why is it important. Short questions testing the background of accounting
We outline all of the six important rules. We explain what a debit and credit is. We discuss the importance of knowing the rules (increase/decrease for specific accounting elements)
We explain what the definition for an Asset is and we discuss examples
We explain what the definition for a Liability is and we discuss examples
We explain what the definition for an Income is and we discuss examples
We explain what the definition for an Expense is and we discuss examples
We explain what the definitions are for Capital and Drawings and we discuss examples
Testing the definitions of the most important accounting rules (elements)
Final summary focusing on the six most important accounting rules for any level of accounting (basic to advanced). All accounts can always be identified as following one of the six most important rules.
Test your understanding of the 6 accounting rules by correctly identifying the accounting element that is applicable to a specific account
Anthony has a passion for continuous learning and loves reading non-fiction books. Simplifying complex topics and ideas to make them easy to understand is what Anthony does best! He continues to make a difference by helping students achieve distinctions in the subjects he has lectured.
Anthony holds a postgraduate degree of a Bachelor of Commerce Honours (in Financial Planning) and a Bachelor of Accounting Science undergraduate degree. His corporate experience gained is primarily from the banking industry and related to financial planning and accountancy. He has experience in the education industry obtained from positions held as a lecturer, educator/teacher, coach, facilitator and tutor.
Anthony is keen to explore innovative ideas, new information and thinking on financial education, forex trading, investments, financial planning, asset management, technology, music, movies, entrepreneurship, skills development, continuous learning and development