Introduction to Bookkeeping from edX

Interested in a career in accounting? Want to stand out from the crowd? Look no further, this is the place to start.

As accounting is so integral to the successful running of a business, the Introduction to Bookkeeping course is designed to arm you with the fundamentals you need to grasp the basic concepts underpinning accounting.

You’ll develop the knowledge and understanding of the main types of business transactions and documentation used, including how these are recorded in an accounting system.

This course is especially beneficial if you want to:

Start a career in business, finance or accountancy
Study business or finance at school or college
Launch your own start-up
Prepare for ACCA’s exam in Recording Financial Transactions (FA1)

You don’t need any prior knowledge of the subject – simply sign up and start learning.

Course update:

To coincide with syllabus changes coming into effect from 20th September 2023 onwards, ACCA-X will be releasing a new version of this course on 28th August 2023. This new version will include technical content and question updates relevant to the 2023/2024 syllabus.

It is therefore important to ensure you enrol onto the correct version of the course. Detailed syllabus information is available within the course and can also be found here

This course does not offer an edX certificate but you can earn a certificate by sitting the relevant ACCA exam.

What's inside

Learning objective

In this course you will acquire the knowledge and understanding to grasp double entry bookkeeping including an introduction to common business transactions.

Syllabus

The syllabus for this course will cover the following:

* Types of business transactions and documentation __

* Duality of transactions and the double entry system __

* Banking process and transactions __

* Payroll __

* Ledger accounts __

* Sales and purchases credit transactions __

* Reconciliations

* The trial balance

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches fundamental bookkeeping concepts, which are widely used in business and accounting

Suitable for individuals seeking a foundation in accounting or finance

Covers essential bookkeeping topics, including transaction types, double entry system, and financial reconciliation

Provides a strong foundation for further studies or a career in accounting

No prior knowledge of accounting is required

May require additional resources for hands-on practice

Reviews summary

Accounting basics for beginners

Learners say that this course is a great way to learn about financial management. Its interactive format, clear explanations, and practical examples are praised by students. The course is highly recommended for those seeking a better understanding of accounting and is a good fit for beginners or those looking to brush up on the basics.

Course contains practical examples.

"drafted so well with practical examples"

Course is clearly explained.

"its contents are well explained"

Course is interactive and engaging.

"This is quite an interactive course."

"Each an every aspect of basic accounting is well understood by student."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Introduction to Bookkeeping with these activities:

Review concepts of double-entry bookkeeping

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Ensure a firm grasp of fundamental concepts before delving into the course.

Browse courses on Double-Entry Bookkeeping

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Revisit notes or textbooks on double-entry bookkeeping.
Practice recording basic transactions in a journal.
Create a simple ledger to post journal entries.
Prepare a basic trial balance to check for accuracy.

Review 'Accounting for Dummies'

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Gain a comprehensive overview of accounting principles and practices.

View Bookkeeping All-in-One For Dummies (For Dummies... on Amazon

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Read through the book, focusing on topics covered in the course.
Make notes or highlight key concepts.

Compile and organize course materials

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Establish a centralized and organized repository for learning resources.

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Gather all course materials, including lecture notes, readings, and assignments.
Create a digital or physical filing system to organize the materials.
Review and update the materials regularly to ensure they are up-to-date.

Two other activities

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Join a study group for exam preparation

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Collaborate with peers, exchange knowledge, and enhance exam preparation.

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Find or form a study group with fellow students.
Schedule regular meetings to discuss course material and solve practice questions.
Take turns presenting concepts and leading discussions.

Contribute to open-source accounting software

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Apply concepts, gain practical experience, and contribute to the community.

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Identify open-source accounting projects on platforms like GitHub.
Review code and documentation to understand the project.
Find areas where you can contribute, such as bug fixing or feature enhancements.
Submit a pull request with your contributions.

Career center

Learners who complete Introduction to Bookkeeping will develop knowledge and skills that may be useful to these careers:

Bookkeeper

Bookkeepers are responsible for organizing and managing the financial records of a business. This hands-on role involves recording transactions, preparing financial reports, and ensuring that all financial data is accurate and up-to-date. The Introduction to Bookkeeping course provides a solid foundation for aspiring Bookkeepers by introducing them to the basic concepts of accounting, including the double entry system, banking processes, payroll, and reconciliation. This course can equip individuals with the knowledge and skills necessary to succeed in this essential role.

See salaries and explore the career path for Bookkeeper

Accountant

Accountants are responsible for managing the financial health of a business. They prepare financial statements, analyze financial data, and provide advice to management on financial matters. The Introduction to Bookkeeping course can provide a strong foundation for aspiring Accountants, as it introduces them to the core concepts of accounting and the double entry system. By completing this course, individuals can gain a better understanding of the principles that underpin accounting practices.

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Auditor

Auditors are responsible for examining the financial records of a business to ensure that they are accurate and compliant with regulations. They play a critical role in ensuring the integrity of financial reporting. The Introduction to Bookkeeping course can be beneficial for aspiring Auditors, as it provides a foundation in accounting principles and the double entry system. This course can help Auditors develop the skills necessary to analyze financial records and identify any potential discrepancies.

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Financial Analyst

Financial Analysts are responsible for analyzing financial data to make recommendations on investments and financial decisions. They use their knowledge of accounting principles to assess the financial performance of companies and make informed investment decisions. The Introduction to Bookkeeping course can provide a strong foundation for aspiring Financial Analysts, as it introduces them to the basic concepts of accounting and financial analysis. This course can help Financial Analysts develop the skills necessary to understand financial statements and make sound investment decisions.

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Accounts Receivable Clerk

Accounts Receivable Clerks are responsible for managing customer accounts and collecting payments. They track invoices, send statements, and follow up on overdue payments. The Introduction to Bookkeeping course may be useful for aspiring Accounts Receivable Clerks, as it provides a foundation in accounts receivable management. This course can help Accounts Receivable Clerks understand the principles of accounts receivable and the steps involved in collecting payments.

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Tax Preparer

Tax Preparers are responsible for preparing tax returns for individuals and businesses. They use their knowledge of tax laws and regulations to ensure that their clients comply with tax requirements. The Introduction to Bookkeeping course may be useful for aspiring Tax Preparers, as it provides a foundation in accounting principles. This course can help Tax Preparers understand the financial information they need to gather from their clients and prepare accurate tax returns.

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Payroll Clerk

Payroll Clerks are responsible for processing payroll for employees. They calculate salaries and wages, withhold taxes, and issue paychecks. The Introduction to Bookkeeping course may be useful for aspiring Payroll Clerks, as it provides a foundation in payroll processing. This course can help Payroll Clerks understand the principles of payroll accounting and the steps involved in processing payroll.

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Accounts Payable Clerk

Accounts Payable Clerks are responsible for processing payments to vendors and suppliers. They verify invoices, approve payments, and maintain accounts payable records. The Introduction to Bookkeeping course may be useful for aspiring Accounts Payable Clerks, as it provides a foundation in accounts payable processing. This course can help Accounts Payable Clerks understand the principles of accounts payable and the steps involved in processing payments.

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Billing Clerk

Billing Clerks are responsible for preparing and sending invoices to customers. They also track payments and maintain customer accounts. The Introduction to Bookkeeping course may be useful for aspiring Billing Clerks, as it provides a foundation in invoicing and accounts receivable. This course can help Billing Clerks understand the principles of billing and the steps involved in processing invoices.

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Tax Accountant

Tax Accountants are responsible for preparing and filing tax returns for individuals and businesses. They use their knowledge of tax laws and regulations to ensure that their clients comply with tax requirements and minimize their tax liability. The Introduction to Bookkeeping course may be useful for aspiring Tax Accountants, as it provides a foundation in accounting principles and taxation. This course can help Tax Accountants understand the principles of taxation and the steps involved in preparing and filing tax returns.

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Credit Analyst

Credit Analysts are responsible for assessing the creditworthiness of borrowers. They use their knowledge of accounting and finance to evaluate financial data and make recommendations on lending decisions. The Introduction to Bookkeeping course may be useful for aspiring Credit Analysts, as it provides a foundation in accounting principles and financial analysis. This course can help Credit Analysts understand the financial information they need to gather from borrowers and make informed lending decisions.

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Financial Controller

Financial Controllers are responsible for overseeing the financial operations of a business. They prepare financial reports, manage budgets, and provide financial advice to management. The Introduction to Bookkeeping course may be useful for aspiring Financial Controllers, as it provides a foundation in accounting principles and financial management. This course can help Financial Controllers understand the core concepts of accounting and the role of financial controllers in a business.

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Budget Analyst

Budget Analysts are responsible for preparing and managing budgets for organizations. They use their knowledge of accounting and finance to develop and implement budgets that align with the organization's goals. The Introduction to Bookkeeping course may be useful for aspiring Budget Analysts, as it provides a foundation in accounting principles and budgeting. This course can help Budget Analysts understand the principles of budgeting and the steps involved in developing and managing budgets.

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Forensic Accountant

Forensic Accountants are responsible for investigating financial crimes and fraud. They use their knowledge of accounting and finance to analyze financial data and identify any irregularities or discrepancies. The Introduction to Bookkeeping course may be useful for aspiring Forensic Accountants, as it provides a foundation in accounting principles and financial analysis. This course can help Forensic Accountants understand the principles of forensic accounting and the steps involved in investigating financial crimes and fraud.

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Cost Accountant

Cost Accountants are responsible for analyzing and reporting on the costs of a business. They use their knowledge of accounting and finance to identify areas where costs can be reduced and improve profitability. The Introduction to Bookkeeping course may be useful for aspiring Cost Accountants, as it provides a foundation in accounting principles and cost accounting. This course can help Cost Accountants understand the principles of cost accounting and the steps involved in analyzing and reporting on costs.

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