ELEV-FP 013: Accounting for Business: Basics

ELEV-FP 013: Accounting for Business: Basics

Course Number: ELEV-FP 013

Duration: One day

Course Description:

Accounting for Business: Basics introduces learners to the foundational principles of accounting and financial management used in everyday business operations. Learners will become familiar with essential accounting concepts and terminology, learn how to track business transactions, and work with core accounting tools such as the general journal, general ledger, and trial balance. This course also covers the purpose and use of the four primary financial statements: the income statement, balance sheet, cash flow statement, and statement of stockholders’ equity. In addition, learners will develop budgeting skills by analyzing financial statements, setting objectives, and monitoring financial performance. The course is designed for practical application and includes interactive exercises to reinforce learning and support success.

By the end of this course, learners should be able to:

• Understand basic accounting concepts and terminology
• Explain the steps of the accounting cycle
• Record and post business transactions
• Prepare and interpret core financial statements
• Understand budgeting fundamentals
• Analyze financial statements to support decision-making
• Set financial objectives and monitor performance

Course Modules:

Module One: Basics of Accounting

• Accounting fundamentals
• Key accounting terms

Module Two: The Accounting Cycle

• Overview of the accounting cycle
• Analyzing, recording, and posting transactions
• Preparing a trial balance

Module Three: Income Statement

• Income statement fundamentals
• Preparing and interpreting an income statement

Module Four: Balance Sheet

• Balance sheet fundamentals
• Preparing balance sheets
• Interpreting balance sheets

Module Five: Other Financial Statements

• Cash flow statement
• Statement of stockholders’ equity

Module Six: Budgeting

• Fundamentals of budgeting
• Analyzing financial statements
• Setting financial objectives
• Monitoring financial performance

Accounting for Business: Basics provides a clear and practical foundation for understanding how financial information is created, analyzed, and used in business environments. Join now to build essential accounting skills and confidently manage basic financial responsibilities.