Introduction to bookkeeping and accounting
The Open University
Summary
- Certificate of completion - Free
Overview
Learn about the essential numerical skills required for accounting and bookkeeping. This free course, Introduction to bookkeeping and accounting, explains the fundamental rules of double-entry bookkeeping and how they are used to produce the balance sheet and the profit and loss account.
Description
Course learning outcomes
After studying this course, you should be able to:
- understand and apply the essential numerical skills required for bookkeeping and accounting
- understand and 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
- prepare a trial balance, balance sheet and a profit and loss account.
Course content
- Introduction
- Learning outcomes
- 1. Essential numerical skills required for bookkeeping and accountingExpand
- 2. Double entry and the balance sheetExpand
- 3. Double entry and the profit and loss account
Who is this course for?
This free course Introduction to bookkeeping and accounting has covered the skills and knowledge required to understand double-entry bookkeeping, the trial balance and the two principal financial statements: the balance sheet and the profit and loss account. Perhaps the most important aspect of accounting that you learnt is the knowledge that for all organisations and individuals their financial position or worth can be in expressed in the accounting equation i.e. Assets (A) – Liabilities (L) = Capital (C). By extending this simple equation to include income (I) and expenses (E) the accounting equation can also be expressed as A – L = C + (I –E).
Certificates
Certificate of completion
Digital certificate - Included
Reviews
Legal information
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