91176 Prepare financial information for an entity that operates accounting subsystems
This course covers the things you'll need to know and be able to do for achievement standard 91176.
In it you'll find answers to questions like:
- What are accounts receivable, accounts payable, bad debts, doubtful debts, balance-day adjustments, accrued expenses, accrued income, income in advance and prepayments?
- How is inventory adjusted to net realisable value?
- How do we close equity accounts and what are closing entries?
- How do we prepare an Income Statement and Statement of Financial Position for a service entity?
- How do we prepare Statements of Cash Flows?
How you'll learn
There are a variety of ways you can learn and interact with the materials in this course.
Self-paced learning – the material is set up so you can learn at your own pace. Although there are 'suggested' times for each page, they're just a guideline - plan your learning to suit you.
Practice activities – throughout this course there are short activities. These activities are for you, not for someone to mark them. These activities give you a great chance to practise what you've learned and compare your answer to the model feedback. Look at the feedback carefully to see if you have missed out any aspects from your answer.