Elements of Financial Accounting eLearning Course

• list the five ‘reporting elements’ that provide the foundation for a set of financial statements
• explain when assets and liabilities are included on financial statements
• explain when income and expenses should be recorded
• recognise key elements of the Balance Sheet and the Income Statement
• explain that retained profits are part of the equity of a business explain that every transaction has two impacts on a set of financial statements
• apply the 'dual effect' principle of accounting to a practical scenario.

Demonstration Of The Course

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