90976 Accounting Concepts - Small Entities - Home Use

What you'll learn

This course‚ covers the things you'll need to know and be able to do for achievement standard, 90976 (Accounting 1.1) Demonstrate understanding of accounting concepts for small entities.

In it you'll find answers to questions like:

• What is accounting, what specialised areas of accounting exist and who are the users of accounting information?
• What is the accounting equation and what are the financial elements of accounting?
• What are transactions and how do we record transactions?
• What are the financial elements of accounting and how are these applied?
• What are financial statements and what is the purpose of financial statements?
• How are accounts classified and how do we distinguish between a service business and a retail business?
• What is the‚ Income Statement and how is it prepared?
• What is the Statement of Financial Position and how is it prepared?
• How would we explain and apply the accounting concepts of an accounting entity, monetary measurement, historical cost, going concern, period reporting and accrual basis?
• What are capital and revenue expenditures?
• What is depreciation?
• What types of accounting entity exist and what are their features?

LearnWell Digital resources bring you the same great learning as in our books - but in an interactive digital format. They are accessed by using the iQualify online learning platform, where you'll find all your digital resources together in one place.

You can find out more on the information page about our‚ LearnWell Digital resources.