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Bookkeeping for Personal and Business Accounting

Week 1 - financial accounting and reporting Week 2 - essential numerical skills Week 3 - double-entry and the balance sheet Week 4 - accounting Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more This accounting 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.

Topics Covered

The reasons and objectives of management and financial accounting, including stewardship, control and accountability
Key terminology including income and expenses, assets and liabilities, profit and loss statements and the balance sheet
Intermediate numerical skills including BODMAS, ratios, percentages, fractions and negative numbers
The test of reasonableness and the table of equivalencies
Manipulating equations and formulas
Business entity and the dual aspect concepts
The relationship between the accounting equation and double-entry bookkeeping
Recording transactions in the appropriate ledger accounts using the double-entry bookkeeping system
Simple balance sheets in a vertical format
Balancing off accounts at the end of an accounting period
Preparing a trial balance
T accounts, debits and credits
Double-entry and the profit and loss account
The effect of profit on the accounting equation
Income and expense accounts
Accounting for closing stock
The account equation and double-entry rules
Trial balance nominal ledger accounts

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Reviews summary

Bookkeeping essentials for beginners

According to learners, this course offers a largely positive introduction to bookkeeping, especially beneficial for those with no prior experience in accounting. Students frequently praise the instructor's clear explanations and the course's logical progression of topics, making complex concepts like double-entry bookkeeping and balance sheets highly understandable. The module on essential numerical skills is often highlighted as particularly helpful for overcoming initial anxieties. While many find it incredibly useful for managing personal finances and small business accounting, some learners with existing knowledge note it might feel too elementary, suggesting it's primarily a foundational course rather than a deep dive.

Helps apply concepts to personal and small business contexts.

"As a small business owner, the practical examples of double-entry bookkeeping and how to prepare a simple balance sheet were incredibly useful."

"This has empowered me to understand my personal finances much better and consider starting a small side hustle."

"I found it quite helpful for my small online shop."

Complex accounting concepts are broken down effectively.

"The instructor explained complex topics in a very clear and understandable way."

"The way they break down concepts like profit and loss statements and the accounting equation is brilliant."

"The double-entry system was explained clearly, and the quizzes helped reinforce learning."

"I finally understand debits and credits! The examples were relevant, and the course felt very accessible."

Perfectly tailored for those new to accounting concepts.

"Just finished this course and it was exactly what I needed. I had zero prior experience, and I now feel confident managing my basic accounts."

"Fantastic course for anyone new to accounting... This has empowered me to understand my personal finances much better and consider starting a small side hustle."

"Excellent course for total beginners! The explanations of assets, liabilities, and equity were so clear."

"Absolutely brilliant for a complete novice. The logical progression of topics from basic terminology to preparing a trial balance was perfect."

Some explanations felt rushed or content lacked interactivity.

"Some of the explanations felt a bit rushed, especially around the numerical skills week."

"The course could use more engaging content. Sometimes it felt like just reading text."

"It serves its purpose as an entry point but isn't outstanding in its presentation style."

Provides basics but lacks depth for experienced learners.

"For someone looking to dive deep into advanced topics or specific software, this course might feel a bit too high-level."

"I already knew some basics of bookkeeping and was hoping for more depth, particularly in real-world application for businesses."

"It's a decent overview, but I don't expect to be an expert after completing it."

"I found it useful for personal finance, perhaps less so for detailed business needs without further study."

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Learners who complete Bookkeeping for Personal and Business Accounting will develop knowledge and skills that may be useful to these careers:

Reading list

We've selected 50 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Bookkeeping for Personal and Business Accounting.

College Accounting, Chapters 1-10

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An in-depth guide to the fundamentals of double-entry accounting, written by an expert with over 30 years of experience in the field. Covers a wide range of topics, including financial statements, journal entries, and closing procedures.

Bookkeeping for Personal and Business Accounting

Topics Covered

Topics Covered

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Reviews summary

Bookkeeping essentials for beginners

Career center

Reading list

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