Fundamentals of Accounting
When I was young, I had to learn the fundamentals of basketball. You can have all the physical ability in the world, but you still have to know the fundamentals.
In most instances, excellence is preceded by a mastery of the fundamentals. Success and excellence in accounting are no exceptions.
Why this course
Without mastery of the fundamentals, progressing to more complex concepts becomes increasingly difficult. If there is one single reason for success or failure in accounting studies, it is thorough knowledge and appreciation of the fundamentals, or lack thereof. There are no short cuts. Each learning unit builds on the previous one. Failure to do so makes subsequent learning increasingly difficult. On the other hand, sound fundamentals allow the learner to breeze through advanced concepts without difficulty.
What you will learn
The course is structured to introduce bite-sized, understandable knowledge in a progressive pace to allow students time to master each concept before progressing. Definitions, principles, theories, and concepts are introduced and introduces important background knowledge for the next full course on the accounting process, such as the elements of financial statements, the accounting equation, structure and use of accounts, and the rules of debit and credit.