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Bookkeeping for Personal and Business Accounting


FutureLearn

Summary

Price
Free
Study method
Online, self-paced
Duration
4 Weeks
Qualification
No formal qualification

47,600 students enquired about this course

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Overview

Learn how to balance your books and develop the skills to manage finances in personal and business environments.

Course media

Description

Get practical financial skills to help you balance the books

Discover how money flows in personal and business environments and develop the basic skills to manage your finances with this course introducing you to bookkeeping and accounting.

You’ll master common terms, basic maths and gain the ability to put your knowledge into practice. After this course you’ll be able to perfectly balance your books and understand how concepts of profit and loss lead to revenue or debt.

Develop ideas through conversation

This course is not facilitated. Learners are encouraged to support one another, share personal experience and knowledge, and see new perspectives.

What will you achieve?

Describe and define bookkeeping and accounting

Explain the general purposes and functions of accounting

Explain the differences between management and financial accounting

Describe the main elements of financial accounting information – assets, liabilities, revenue and expenses

Identify the main financial statements and their purposes

Apply the essential numerical skills required for bookkeeping and accounting

Explain the relationship between the accounting equation and double-entry bookkeeping

Record transactions in the appropriate ledger accounts using the double-entry bookkeeping system

Balance off ledger accounts at the end of an accounting period

Produce a trial balance, balance sheet and a profit and loss account

Who is this course for?

This course is for anyone wanting an introduction to bookkeeping and financial accounting. It might be of particular interest to small business owners, people who are self employed or those wanting to better manage their own finance. You don’t need any previous experience.

Requirements

You can largely work from pen and paper in your notebook, and for more complex tasks use a standard calculator, or if you have a smartphone, the calculator app there. In the second half of the course there is a pre-made spreadsheet template for you to download and work through the exercises in Microsoft's Excel, or free online software like Google Spreadsheets.

Reviews

3.9
Course rating
86%
Service
78%
Content
73%
Value
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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At reed.co.uk courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on reed.co.uk, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as ABC Awards and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.

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