Basic Business Accounting - Wits DigitalCampus · Basic Business Accounting Course Fact Sheet Course overview Target audience This course will provide knowledge about accounting terms

Basic Business AccountingCourse Fact Sheet

Basic Business Accounting

Course Fact Sheet Course Fact Sheet

Course objectives ............................................................................................. 1

Reimagine your career .....................................................................................2

Course overview ...............................................................................................3

Target audience ................................................................................................3

Course accreditation ........................................................................................3

About Wits Plus ................................................................................................................... 4

About LRMG ......................................................................................................................... 4

Course duration ................................................................................................5

Course dates .....................................................................................................5

Course cost .......................................................................................................5

Weekly course modules ...................................................................................6

Overview of modules .......................................................................................7

Course pre-requisites ......................................................................................9

Course delivery............................................................................................... 10

Assessment and award of certificate ............................................................11

Application ...................................................................................................... 12

Contents

1



Course objectives

0 What are the accounting terms and principles that are used in business?

0 What is the accounting equation and how is it applied in business?

0 What is a cash book and what is it made up of?

0 What is a debtors ledger and what is it made up of?

0 What is a creditors ledger and what it is made up of?

0 What are the other ledgers used in business accounting?

0 How does one compile and analyse financial statements?

These and other questions will be answered in the DigitalCampus Basic Business

Accounting course.

2



Reimagine your career

Effective and efficient accounting

and bookkeeping is the backbone

of every business. Whether you’re a

bookkeeper, financial clerk or business

manager, in the financial department

of a business, or a business manager

experiencing a growing exposure to

the company’s financial statements,

a solid understanding of basic

business accounting will assist you in

broadening your financial skill set.

This course outlines and builds on the

accounting terms and principles taught

at school, and builds on this, adding

business application tools and tips.

Reimagine your career when you’re

well-versed in accounting terms and

principles, able to apply the accounting

equation to business, and comfortable

with analysing the company’s financial

statements.

Reimagine your professional success

if you could understand financial

statements and extract the financial

information you need to add to your

department or business unit’s financial

success.

3



Course overview

Target audience

This course will provide knowledge

about accounting terms and principles,

as well as outline the financial role-

players and business entities. The

course delves into detail about the

cash book receipts, payments tax

and bank reconciliations, as well as

the debtors and creditors ledger

and reconciliations. Learners will

apply the accounting equation to

the formulation of trial balances and

financial statements. A module on the

application of financial statements

teaches learners to interpret financial

reports, following legal requirements

and expected reporting formats. By

the end of the course learners will be

able to understand basic business

accounting statements and extract

valuable financial information.

The target audience of this course

includes bookkeepers or financial

clerks who wish to broaden their

financial skills, as well as business

managers or entrepreneurs who

need to understand basic business

accounting to ensure proper financial

management of their business, or

anyone looking to add basic business

accounting to their skill set.

Course accreditation

This course was developed by

Wits Plus, the Centre for Part-

Time Studies at the University of

the Witwatersrand (Wits) and is

accredited by Wits. You will receive

a certificate of competence from

Wits Plus once you have successfully

completed the course. The course is

presented by Wits Plus in partnership

with DigitalCampus, a division of

LRMG Performance Agency (LRMG).

4



About Wits Plus

Wits Plus, the Centre for Part-Time

Studies at Wits, offers various

qualifications and a wide range of

high-level short courses to mature

professionals. Wits is established as a

Public Higher Education Institution in

terms of The Public Higher Education

Act, is recognised as one of the

leading Higher Education institutions in

South Africa and is internationally- and

locally respected by both private- and

public sector organisations.

With Wits Plus you:

0 Will study with qualified lecturers

who are widely recognised in their

field.

0 Will be treated as a professional.

0 Will network with other

professionals who want to get

ahead and stay ahead in their

careers.

0 Are assured of the best quality.

About LRMG

As one of South Africa’s leading

performance and learning consulting

firms, The LR Management Group

(LRMG Performance Agency) has

been empowering people to achieve

their potential since 1997, working

with companies such as MTN, Telkom,

Nedbank, MultiChoice, Engen and

Sun International. Applying their

unique knowledge of the science

of online learning to specially-

developed content from Wits, they’ve

created a cutting-edge platform that

provides you with a completely new

way of learning. LRMG is a SETA-

accredited management group

with full accreditation as a training

provider. LRMG offers fully-customised

learning programmes to people and

organisations wanting to ensure

maximum returns on people talent

investment. LRMG’s ISETT SETA

accreditation number is ACC02 and full

SETA accreditation number is 0986.

5



Course duration

Course dates

Course cost

Basic Business Accounting is an eight-week online course. An additional two weeks

will be spent on the course introduction, studying and examination. From beginning

to end, the course period is 10 weeks.

Please visit the website for more information:

http://www.digitalcampus.co.za

$ 1000.00

6



Weekly course modules

Each week, for a period of eight weeks, you will be tasked with navigating your way

through one module per week:

0 Week 1 – Module 1: Introduction to Business Accounting.

0 Week 2 – Module 2: The Cash Book.

0 Week 3 – Module 3: The Debtors Ledger.

0 Week 4 – Module 4: The Creditors Ledger.

0 Week 5 – Module 5: Other Ledgers.

0 Week 6 – Module 6: Application of the Accounting Equation.

0 Week 7 – Module 7: Practical Construction of Financial Statements.

0 Week 8 – Module 8: Application of Financial Statements.

0 During week 9, you are given study time.

0 During week 10, you will write your final examinations.

7



Overview of modules

Module Overview

Module 1: Introduction to Business Accounting

This module describes business accounting and the users thereof, as well as the different business entities in the accounting environment.

Module 2: The Cash Book

Elements that feature in the cash book are broken down and explained in this module. Value Added Tax, receipts, payments and bank reconciliation are discussed, providing the learner with the ability to demonstrate how to complete a cash book and bank reconciliation.

Module 3: The Debtors Ledger

An overview of the debtors ledger, how to prepare a sales journal and summarising cash payments assists learners to complete a debtors ledger by the end of this module.

Module 4: The Creditors Ledger

Learners should be able to complete a creditors ledger by the end of this module, as well as prepare a purchasing journal and payments of creditors.

Module 5: Other LedgersOther ledgers, like the general journal, petty cash, inventory, fixed assets, and wages is the focus of this module, enabling the learner to apply basic business accounting principles to these ledgers.

Module 6: Application of the Accounting Equation

Key accounting terms and the accounting equation is explored in depth, enabling learners to understand how a general ledger is finalised and how a trial balance is generated.

8



Overview of modules

Module 7: Practical Construction of Financial Statements

In this module learners are shown how to complete a trial balance and produce financial statements, using accounting software.

Module 8: Application of Financial Statements

The analysis of financial statements by using ratio analysis is the focus of this module. Learners are also taught to comply with legal requirements of disclosure and follow set reporting formats that the business requires.

9



Course pre-requisites

Grade 12 or matric certificate (or equivalent) is required. In the absence of this,

recognition of prior learning will be considered on a case by case basis. You do not

require prior knowledge of financial management to register for this course.

This course is presented online, so you will need:

0 Access to a computer with Internet access (with a working webcam).

0 A current email address.

0 Access to Microsoft Word.

0 PDF-reading software.

0 To be able to watch videos presented in this course online.

All course material is in English and all assessments are delivered in English.

This online course enables you to divide your time between work, family, friends

and study. You must set aside five to seven hours weekly to complete each module

over eight weeks of the course.

10



Course delivery

This course is delivered fully online. No

matter where you are, you can simply

log into the DigitalCampus online

learning portal and continue with your

course.

We release one module per week.

Each module consists of several

topics. During a typical week, you must

read the topic’s content and watch the

videos and animations. You will also

have the option to answer progress

check questions.

At the end of each module, you are

expected to:

0 Log into the Discussion Forum and

participate in a discussion focusing

on the module.

0 Complete an assignment related to

the module.

At the end of the eight weeks, you are

expected to study and complete a final

examination.

You can contact the DigitalCampus

Learning Journey Manager, Denise

Pivacic, throughout the duration of this

course via the Q&A forum or email her

at [email protected] with

your questions. If necessary, Denise

will refer your question to the lecturer,

John Borthwick. Mr Borthwick will also

monitor the Discussion Forum and

contribute where necessary.

11



Assessment and award of certificate

We have integrated a formative (continuous) assessment into each of the modules.

These assessments, referred to as progress checks, will enable you to evaluate

your own progress and grasp of the content. These progress checks do not count

towards your final mark.

In addition to the progress checks, you will also be expected to participate in the

learning activities set out below.

All these activities count towards your final mark and will be weighted as follows:

Accomplishment Weighting

Participation in Discussion Forum Activities 5%

Assignments and Knowledge Quizzes 35%

Final Examination 60%

You must achieve a combined final mark of 50% to receive the certificate of

competence from Wits University.

12



Application

Apply online at:

http://www.digitalcampus.co.za

Click on the Courses tab at the top

of the page. Search for the Basic

Business Accounting course and click

on the View Course and Apply Now

links.

Complete the application form and

then click on Complete application to

submit your application.

You will be contacted by the

DigitalCampus Learning Journey

Manager shortly afterward.

Documents

Basic Business Accounting - Wits DigitalCampus · Basic Business Accounting Course Fact Sheet Course overview Target audience This course will provide knowledge about accounting terms