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Devendra Kodwani
and
Devendra Kodwani
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
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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
Read more
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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Bookkeeping for Personal and Business Accounting.
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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:
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OpenCourser.com/course/1a0tbh/bookkeeping
Reading list
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Covers the basics of financial management. It is an excellent resource for students and professionals who want to learn about the financial management process.
Classic textbook on intermediate accounting. It covers a wide range of topics, including financial statement analysis, accounting for business combinations, and accounting for investments. It is an excellent resource for students and professionals who want to learn the fundamentals of intermediate accounting.
Covers advanced accounting topics such as consolidated financial statements, foreign currency translation, and segment reporting. It is an excellent resource for students and professionals who want to learn about the more complex aspects of accounting.
Covers the basic principles of accounting. It is an excellent resource for students and professionals who want to learn the basics of accounting.
Covers the basics of financial accounting and reporting. It is an excellent resource for students and professionals who want to learn the basics of financial accounting.
Covers the basic principles of accounting. It is an excellent resource for students and professionals who want to learn the basics of accounting.
Covers accounting rules specifically designed for non-profit entities. It is useful for students, professionals, and non-profit entities that wish to understand the accounting intricacies of non-profit organizations.
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Covers the International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). It is an excellent resource for students and professionals who want to learn about the global accounting standards.
Covers the basics of auditing and assurance services. It is an excellent resource for students and professionals who want to learn about the auditing process.
Covers the basics of financial statement analysis. It is an excellent resource for students and professionals who want to learn how to analyze financial statements.
Covers the basics of managerial accounting. It is an excellent resource for students and professionals who want to learn about the managerial accounting process.
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Widely used textbook for introductory financial accounting courses. It provides a solid foundation in the core concepts and principles of financial accounting, making it ideal for those seeking a broad understanding. It covers essential topics like financial statements, the accounting cycle, and internal controls. This book is commonly used as a textbook in academic institutions.
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Another popular choice for introductory financial accounting, this textbook is known for its student-friendly writing style and clear explanations. It covers the fundamentals of financial accounting and is suitable for those new to the subject. It is often adopted as a primary textbook in undergraduate programs.
Offers a concise and easy-to-understand introduction to accounting fundamentals. It's an excellent resource for beginners or those looking for a quick review of core concepts like financial statements and GAAP. It serves as valuable additional reading for anyone starting in financial accounting.
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Using a creative and engaging lemonade stand analogy, this book teaches the basics of financial accounting in a hands-on way. It's particularly helpful for visual and experiential learners to grasp fundamental concepts and financial language. is useful as supplementary material for introductory courses.
Considered a gold standard in intermediate accounting, this comprehensive textbook delves deeper into financial accounting topics building upon introductory knowledge. It is widely used in undergraduate and graduate programs and is essential for solidifying understanding and preparing for advanced topics. primary textbook for intermediate-level courses.
This textbook is designed for the first part of an intermediate financial accounting sequence, assuming prior introductory knowledge. It covers essential topics like the conceptual framework, financial statements, and assets under IFRS and ASPE. It's a suitable textbook for students continuing their financial accounting studies.
Continuing from Volume 1, this textbook covers the second part of intermediate financial accounting, focusing on more complex liabilities, income taxes, pensions, leases, and the statement of cash flows under IFRS and ASPE. It's a crucial resource for students completing their intermediate-level understanding.
This textbook is designed for advanced accounting courses and covers complex topics such as business combinations, consolidated financial statements, and foreign currency transactions. It's essential for graduate students and professionals specializing in financial accounting. This core textbook for advanced-level programs.
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Provides a user-oriented approach to financial accounting. It is an excellent resource for students and professionals who want to learn about financial accounting from a user's perspective.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/1a0tbh/bookkeeping
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