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Accounting : Understanding Debits and Credits


Understanding Debits and Credits A skilled and professional accountant in modern businesses is a valuable asset to the organisation. An accountant plays numerous administrative roles in an organisation and performs the various financial functions such as financial data management, financial data analysis, advising on business operations, preparation of financial statements, supervising and assisting with taxation issues, etc. The unit focuses on the role of the accountant, accounting personnel and different methods of accounting. It also describes the advantages of the double-entry system, the nature of accounting functions and various types of accounting including a look at the meaning of debit and credit and the differences between bookkeeping and accounting. In this unit, candidates will learn about the organisation of accounting and finance, the bases of accounting and accounting terminology.

SKU: 199361 Category:


Accounting and finance_Accountancy


Accounting and Finance


After completing this course learners will be able to:

  • Describe the activities of an accountant
  • Discuss the roles of accounting personnel and the accounting function in an organisation
  • Describe the advantages of the Double-Entry System
  • Explain single-entry and double-entry bookkeeping
  • Understand the types of Accounting
  • Differentiate between Bookkeeping and Accounting

Program Content


Introduction to the Role of an Accountant


  • The Role of an Accountant
  • Accounting Personnel
  • Methods of Accounting
  • Advantages of Double-Entry System
  • Types of Accounting
  • Distinction between Bookkeeping and Accounting
  • Objectives of Bookkeeping
  • Organisation of Accounting and Finance
  • Bases of Accounting
  • Accounting Terminology