Module 01
The Foundation
This session covers the accounting concepts needed for an overview of accrual accounting.
Learning context and the balance sheet
- learning purpose: themes, perspective, and organisational systems
- uses of funds: assets and asset recognition criteria
- sources of funds: liabilities and equity
- the accounting duality: why a balance sheet balances and the accounting equation
- financing obligations: distinctions between debt and equity
The income statement and double entry accounting
- basic transactions and double-entry accounting
- deducing the BaSIS Board™: why we need income and expenses
- the income statement and how it connects to the balance sheet
- introducing accrual accounting: receivables and payables
- the value cycle of business




















