Accounting Transactions: Further Considerations

Advance your bookkeeping knowledge

Many businesses sell and buy on credit but accounting for these transactions needs a deeper understanding of accounting principles and concepts.

On this three-week course, you’ll gain an in-depth understanding of accounting transactions and how to record them correctly. You’ll explore credit sales and credit purchases, dealing with sales and returns, discounts, and VAT/Sales Tax.

You’ll finish the course with an understanding of how non-cash sales and purchases are accounted for and will have developed the skills to accurately record them for your financial records.

Understand the implications of credit sales

As you delve into credit sales and purchases, you’ll explore the implications of these non-cash sales.

In particular, you’ll unpack the different discounts which can be applied to a transaction and how these are accounted for in financial statements.

Explore accounting for inventory

Your inventory is a valuable asset and it’s important you know its value and cost to keep your financial statements accurate.

On the course, you’ll develop an understanding of accounting for inventory before exploring how businesses account for stock as a trading expense.

Understand VAT and hone your basic accounting skills

VAT is a key tax that all businesses should be aware of. On this course, you’ll gain knowledge of what VAT/Sales Tax is, how it works, and how it appears in the accounting records of a business.

Learning from financial specialists at Kaplan, you’ll have the opportunity to take basic accounting knowledge further by looking at more complex transactions and how to account for them.

This course is designed for anyone wanting to learn more about accounting and dealing with credit transactions, VAT/Sales Tax, returns, and discounts.

You may already work in an accounts department or raising invoices is part of your job role and you want to learn about more detailed transactions.

You might be currently studying at college or university and would like some extra help with these topics from a practical perspective.

This course would also be useful for those who maintain accounting records for a small business, and need knowledge of more detailed transactions and how to account for them. Or perhaps you would like a course to help you brush up on accounting knowledge gained many years ago.

• Credit sales, VAT, discounts and returns
• Welcome
• Credit sales
• VAT on sales
• Discounts on sales
• Sales returns
• Credit purchases, VAT, discounts and returns
• Welcome
• Credit purchases
• VAT on purchases
• Discounts on purchases
• Purchase returns
• Accounting for inventory in stock
• Welcome
• Accounting for inventory
• Inventory valuation
• Closing inventory, opening inventory and double entries