Basic Accounting and Financial Administration Course

Lesson 1 • The Accounting Equation

Assets = Liabilities + Equity as the structural backbone of all financial records. Students use this equation to verify transaction balance before moving to journal entries.

Lesson 2 • Core Accounting Concepts and Assumptions

Fundamental assumptions—going concern, accrual basis, consistency—that govern how transactions are recorded. Provides the conceptual rules students apply throughout the course.

Lesson 3 • Classifying and Analysing Transactions

Identifying economic events, determining their financial effect, and categorising them correctly. Builds the analytical habit required for accurate recordkeeping.

Lesson 1 • General Journal Entries

Recording debits and credits in chronological order with proper narrations. Establishes the primary input for all subsequent ledger and report work.

Lesson 2 • Chart of Accounts and Account Structure

Designing a numbered chart of accounts that mirrors business operations. Directly enables consistent posting throughout the recording cycle.

Lesson 3 • Posting to the General Ledger

Transferring journal data to individual ledger accounts and maintaining running balances. Links the journal to the trial balance and financial statements.

Lesson 1 • Closing Entries and the Post-Closing Trial Balance

Zeroing temporary accounts and transferring net income to equity to reset the ledger. Finalises the accounting cycle and prepares records for the next period.

Lesson 2 • Deferrals: Prepaid and Unearned Items

Recording the expiration of prepaid expenses and the earning of unearned revenue. Students practise the most common deferral adjustments found in everyday business.

Lesson 3 • Why Adjusting Entries Are Necessary

Timing differences between cash flow and revenue or expense recognition require corrections. Grounds students in the accrual principle before they attempt specific adjustment types.

Lesson 1 • The Income Statement

Reporting revenues, expenses, and net income or loss for a defined period. Introduces the first and most frequently analysed financial output.

Lesson 2 • Interrelationships Among Financial Statements

Tracing how net income, equity, and cash balances link across all four statements. Develops the holistic reading skill needed for financial analysis.

Lesson 3 • The Statement of Changes in Equity

Tracking movements in owner's or shareholders' equity across the period. Bridges the income statement and the balance sheet.

Lesson 4 • The Balance Sheet

Presenting assets, liabilities, and equity at a specific date to show financial position. Students apply classification rules for current vs. non-current items.

Lesson 1 • Cash Control and Bank Reconciliation

Matching company cash records to bank statements and identifying discrepancies. Establishes the most fundamental internal control in financial administration.

Lesson 2 • Accounts Receivable and Credit Sales

Recording credit sales, tracking customer balances, and estimating uncollectible accounts. Directly affects revenue recognition and asset valuation on the balance sheet.

Lesson 3 • Petty Cash Fund Management

Establishing, using, and replenishing a petty cash fund for minor expenditures. Provides a practical cash control tool used in virtually every organisation.

Lesson 1 • Inventory Valuation Methods

Applying FIFO, LIFO, and weighted-average cost to assign value to ending inventory. Students compare financial statement outcomes under each method.

Lesson 2 • Inventory Systems: Periodic vs. Perpetual

Contrasting continuous perpetual tracking with period-end periodic counting. Establishes the operational framework before valuation methods are introduced.

Lesson 3 • Cost of Goods Sold Calculation and Reporting

Computing COGS using the inventory equation and presenting it on the income statement. Connects inventory records to gross profit and profitability analysis.

Lesson 1 • Asset Disposal and Impairment

Recording gains and losses on asset sales, retirements, and exchanges. Ensures the balance sheet reflects only assets still providing economic benefit.

Lesson 2 • Acquiring and Capitalising Long-Term Assets

Determining which costs to capitalise versus expense at the point of asset acquisition. Establishes correct initial asset values that drive all subsequent depreciation.

Lesson 3 • Intangible Assets and Amortisation

Recognising and amortising patents, trademarks, and goodwill over their useful lives. Extends asset accounting beyond physical property to knowledge-based resources.

Lesson 1 • Profitability and Leverage Ratios

Evaluating return on assets, return on equity, and debt-to-equity relationships. Extends ratio analysis to long-term performance and capital structure decisions.

Lesson 2 • Liquidity and Efficiency Ratios

Measuring short-term solvency and how effectively assets generate revenue. Provides the first layer of diagnostic tools for financial health assessment.

Lesson 3 • Internal Controls in Financial Administration

Designing segregation of duties, authorisation policies, and reconciliation routines. Protects organisational assets and ensures data integrity across all accounting processes.

Lesson 4 • Budgeting and Financial Planning Basics

Preparing operating budgets and comparing actual results to planned figures. Closes the course by connecting accounting records to forward-looking financial management.