Business Activities and Transactions

Every man lives by exchanging.
Adam Smith
A reporting entity issues financial statements, which contain information on its financial position and performance. The information is the cumulative effect of transactions that happened during the reporting period.

Why this course

If the object of the accountant’s work is to be narrowed down to its finest detail, it would lead to transactions. It is absurd to try learning a task without knowing the object of the task. Unless born to entrepreneurs and grew up in a world of business and finance, one’s experience with transactions will be that of an ordinary buyer. Transactions should be understood so that these can be taken up properly in the accounting records.

What you will learn

The course discusses the three types of business activities and the transactions under each type. The classification is useful to decision makers in evaluating the entity’s financial position, performance, and cash flows. The most common business transactions are discussed. These transactions are repetitive and account for the bulk of business activities. They are less complex than other major, but infrequent transactions.

  • Easy enrollment and checkout; online or over-the-counter bank payment, more than 5,000 remittance and payment centers nationwide
  • Course availability anytime, anywhere in any internet enabled device​
  • Note-taking capability at the front end; ability to download or print own notes for later review​
  • Interactive quizzes and activities to test knowledge and recall of key concepts​
  • Online discussion for collaborative learning and building an online community​
  • Private one-on-one consultation with group leader, teacher, or subject matter expert; by appointment​
  • Access to scheduled live interaction, online group meetings, or webinars
  • Free downloadable E-Book at end of course for future review and reference​
  • Administrative tools for group leaders and teachers for class management and monitoring; detailed reports of student performance​

Prepare for a rewarding career in accounting. Build on solid theoretical foundations. Learn the skills and have the functional competence to apply them. ​