Good accounting practices and procedures are needed in every business and organization. Details of trading transactions need to be accurately recorded so that you know what your financial situation is at any time.

In The Digital Classroom's free online accounting diploma course, you will learn about the core practices involved in recording various details, from understanding debits and credits and using simple T-accounts to closing out the accounts at the end of an accounting period, producing the statement of retained earnings and balance sheet. Detailed examples are worked through on a transaction-by-transaction basis, helping you understand how and why each step is necessary.

After reviewing day-to-day accounting procedures, you are introduced to the more formal theory of accounting, the assumptions, principles and modifying conventions, the Financial Accounting Standards Board (FASB) conceptual framework and the main objectives of financial reporting.

The Digital Classroom's free online accounting course will be of great interest to entrepreneurs and business professionals who would like to get a thorough introduction to accounting practices and theory, and to any learner who is interested in accounting as a future career.

Having studied The Digital Classroom's Diploma in Accounting Core Practices and Theory course, you will be able to:
- Identify and describe the three basic forms of business organizations;
- Determine the effects of individual transactions on the financial statements;
- List and describe the four main financial statements;
- Classify and record financial transactions;
- List and execute the steps in the accounting cycle;
- Work with t-accounts and journals;
- Describe how to use adjusting entries;
- Describe how to close out a set of accounts using a worksheet;
- Describe how to prepare a classified balance sheet;
- Identify and discuss the underlying assumptions, major principles and modifying conventions of accounting.

All The Digital Classroom courses are free to study. To successfully complete a course you must score 80% or higher in each course assessments. Upon successful completion of a course, you can choose to make your achievement formal by purchasing an official The Digital Classroom Diploma or Certificate.

Having an official The Digital Classroom document is a great way to celebrate and share your success. It is:

• Ideal to include with CVs, job applications and portfolios
• A way to show your ability to learn and achieve high results