Revenue, profit and loss, balance sheets are these accounting terms that intimidate you? This free course, Introduction to the context of accounting, will help you to understand the very basics of accounting, from its historical beginnings to the objectives of modern day accountants. You will learn how an accountant in business balances conflicting demands to maximise market share and profit.
Course learning outcomes
After studying this course, you should be able to:
- describe accounting’s primary objective
- explain what is meant by inputs to and outputs from the accounting information system
- explain the relationship between data, data processing, data summarisation and information
- explain the difference between data and information
- describe the five main characteristics of ‘good’ information.