What Is the Importance Of Accounting?

Do you want to know What Is the Importance Of Accounting? Explore accredited online Accounting Courses at Brentwood Open Learning College: http://www.bolc.co.uk.

Accounting constitutes various inter connected activities from collecting and recording information to analysing, evaluating and finally communicating it to interested parties. Information is meaningless unless it fulfils a specific purpose. There are various internal and external stakeholders in a business organization such as

its managers,
shareholders,
employees,
customers,
creditors,
competitors.

Accounting is required to account for the economic resources in all business and non-business activities.In business organizations such as, manufacturing or trading entities and in non-business organizations such as, schools, colleges, hospitals, libraries, etc.Language serves as a means of communication; therefore, accounting is the language of business.It assists in keeping and managing record of transactions of a business or a firm;
It not only provides useful information about all the financial operations of a business but also highlights net gains or any loss made at the end of a financial year, and thus, it draws an accurate picture of the business.

It also helps in making important economic decisions by analysing the past performance.
A certificate or diploma in accounting and finance helps you learn skills that are helpful in a variety of industries. Brentwood open learning college proudly offers range of highly regarded accounting and finance courses to help students gain skills and compete in modern world.

Certificate in accounting and finance level 2 is designed to deliver the essential fundamentals and knowledge to students. Certificate in accounting and finance level 2 comprises four valuable units: Introduction to Accounting, The Key Reports, Tools for Financial Analysis, and The Basics of Budgeting.

Certificate in accounting and finance level 3 improves skills in students by providing invaluable knowledge about contemporary accounting and finance methods. This course consists following six units: Introduction to Accounting and Finance, Role of an Accountant, The Balance Sheet, Profit and Loss Accounts, Cash Flow Statement and Budgeting.

Diploma in accounting and finance level 4 is highly regarded course to equip students with skills and knowledge according to requirements of contemporary world. Diploma in accounting and finance level 4 is divided in following thirteen units: Introduction to Accounting, The Role of an Accountant, Accounting Concepts and Standards, Journals and Subsidiary Books, Profit and Loss Accounts, Balance Sheet, Cash Flow Statements, Budgeting, Variance Analysis, Ratio Analysis, Financial Management, Management of Working Capital and Investment Methods. Study material helps students to manage the complexities and problems faced while maintaining records of accounts. Students learn at their own pace and convenient timings.

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