Course Description
Byte size learning skills course of 1 comprehensive session
Businesses are created with the intention of producing wealth for their owners and profit is a measure of the wealth that has been created during a particular period. Profit is generally considered to be the most important measure of business performance and the amount of profit generated by a business is reported in a profit and loss account.
In this course, we provide an understanding of the nature, form and content of the profit and loss account which is also known as the income statement. We examine the way in which profit is measured, and the way in which basic profit and loss accounts and balance sheets are prepared from a series of business transactions.
By the end of this course, you should be able to:Explain the nature and purpose of the profit and loss account. Set out the basic form of the profit and loss account and explain its relationship with the balance sheet. Explain the major conventions underpinning the profit and loss account. Explain the major principles involved in the measurement of profit. Prepare a profit and loss account and a balance sheet from basic transactions. Set out profit and loss statements in an appropriate form.
Tutor Support
With this course you will have unlimited access to your own personal tutor who specialises in their field of study. It is your personal tutor's role to ensure that you receive constructive feedback and to deal with any queries you may have. You are more than welcome to telephone, fax or email your personal tutor.
You will also have access to a dedicated and friendly team of administrators and course advisors who offer sound and professional guidance and advice when you need it. This ensures that you will never feel neglected and that you will always succeed!
Assessment Method
After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.
What's Included
All study materials Study Guide Full Tutor and Admin support
Back to Top
Businesses are created with the intention of producing wealth for their owners and profit is a measure of the wealth that has been created during a particular period. Profit is generally considered to be the most important measure of business performance and the amount of profit generated by a business is reported in a profit and loss account.
In this course, we provide an understanding of the nature, form and content of the profit and loss account which is also known as the income statement. We examine the way in which profit is measured, and the way in which basic profit and loss accounts and balance sheets are prepared from a series of business transactions.
By the end of this course, you should be able to:
Tutor Support
With this course you will have unlimited access to your own personal tutor who specialises in their field of study. It is your personal tutor's role to ensure that you receive constructive feedback and to deal with any queries you may have. You are more than welcome to telephone, fax or email your personal tutor.
You will also have access to a dedicated and friendly team of administrators and course advisors who offer sound and professional guidance and advice when you need it. This ensures that you will never feel neglected and that you will always succeed!
Assessment Method
After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.
What's Included
Course Outline
Section 1: Introduction to the Profit and Loss Account
1.1 The Measurement of Profit
1.2 Relationship Between Profit and Loss Account and Balance Sheet
1.3 Forms of Revenue and Expense
1.4 Owners'' Capital and the Profit and Loss Account
Section 2: Measurement of Revenues and Expenses
2.1 The Measurement of Profit
2.2 The Matching Convention
2.3 The Accruals Convention
2.4 The Measurement of Expenses
2.5 A More Detailed Illustration
2.6 Practical Implications of Accruals Accounting for the Preparation of Final Accounts
Section 3: Form and Content of Profit and Loss Accounts
3.1 The Profit and Loss Account of Trading Businesses
SUMMARY
Review Activity
Recommended Reading
Tutor-marked Question Paper
Back to Top
1.1 The Measurement of Profit
1.2 Relationship Between Profit and Loss Account and Balance Sheet
1.3 Forms of Revenue and Expense
1.4 Owners'' Capital and the Profit and Loss Account
Section 2: Measurement of Revenues and Expenses
2.1 The Measurement of Profit
2.2 The Matching Convention
2.3 The Accruals Convention
2.4 The Measurement of Expenses
2.5 A More Detailed Illustration
2.6 Practical Implications of Accruals Accounting for the Preparation of Final Accounts
Section 3: Form and Content of Profit and Loss Accounts
3.1 The Profit and Loss Account of Trading Businesses
SUMMARY
Review Activity
Recommended Reading
Tutor-marked Question Paper
More Information
| Language | English |
| Content Length | 8.00 hours |
| Duration of Access | Unlike other Distance Education Colleges, we impose no time limits or pressures on you to complete your course material. Your course will not expire, and it will not become invalid until you have successfully completed it. |
| Instructor | Self Study |
| Vendor | Stonebridge (Read more about Stonebridge accreditation.) |
| Course Certification | Certificate of Completion in The Profit and Loss Account All students will receive a certificate in the mail on successful completion of their course. |
| Prerequisites/Audience | There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds. |
| Requirements/Materials Included | This program can be accessed and completed using either PC or Macintosh computers. You'll need an Internet connection of 28Kpbs or higher, and a Web browser. There are no required textbooks. |
Price: € 71.37 (EUR)
Add to Cart