Lesson 1 – Learning Objectives
After completing this unit, you should be able to:

• Define accounting.
• Identify the uses of financial information.
• Have a basic understanding of creating financial reports
• Define assets, liabilities and equity
• Explain sources of assets and types of transactions
• List the elements of a financial statement.

Lesson 1 – Accounting Building Blocks

Click on the link below to assess the lessons.  Following the order set here will increase your understanding.

What is accounting?

What is accounting – video

Using accounting to run a successful business

The building blocks of financial reports

Elements of Financial Statements video

Elements of Financial Statement Exercise

Assets, Liabilities, Equity

Types of transactions

Introduction to Financial Statements

Case study