Intermediate Bookkeeping from edX

Did you enjoy the Introduction to Bookkeeping course? Want to delve deeper into the realms of Financial Accounting? Or do you already have some prior knowledge of Bookkeeping and are simply looking to expand your knowledge base? Then this course is perfect for you.

Intermediate Bookkeeping goes one step further by introducing basic financial statements, as well as exploring some of the fundamental concepts that underpin the preparation of accounts.

This course is especially beneficial if you want to:

Explore the preparation of financial statements
Gain the knowledge to undertake a role as an accounting administrator/bookkeeper
Understand the principles and concepts relating to maintaining financial records
Prepare for the ACCA’s exam in Maintaining Financial Records (FA2)

If you are new to accounting, we’d recommend you start with the Introduction to Bookkeeping course. If you have prior knowledge or have already completed the introductory course, start learning right away.

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 about the core concepts and principles that underpin the preparation of financial statements including how to prepare them.

Syllabus

The syllabus for this course will cover the following:

* Generally accepted accounting principles and concepts

* The principles and process of bookkeeping

* Preparation of journal entries

* Recording transactions and events

* Preparing the trial balance and correcting errors

* Extending the trial balance

* Accounting for Partnerships

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Delves into essential financial principles and practices in accounting

Suitable for individuals with prior bookkeeping experience or those seeking a foundation

Can prepare you for the ACCA's exam in Maintaining Financial Records (FA2)

Covers essential components of financial statement preparation

Provides a strong grounding in accounting principles and concepts

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 Intermediate Bookkeeping with these activities:

Review Your Notes and Assignments from Previous Courses

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Build upon your existing knowledge by reviewing previous course materials.

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Gather your notes and assignments from previous accounting courses.
Review the material, focusing on key concepts and principles.

Review Basic Accounting Principles

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Review basic accounting principles to refresh your knowledge and build a stronger foundation for this course.

Browse courses on Accounting Basics

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Read through your old notes or textbooks on basic accounting principles.
Take practice quizzes or exercises to test your understanding.

Join a Study Group for Accounting Students

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Collaborate with other accounting students to reinforce concepts and solve problems.

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Find or create a study group with fellow accounting students.
Regularly meet to discuss course material, complete assignments together, and quiz each other.

Eight other activities

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Read 'Intermediate Accounting' by Kieso and Weygandt

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Expand your knowledge of intermediate accounting concepts by reading this comprehensive textbook.

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Read each chapter thoroughly and take notes on key concepts.
Complete the end-of-chapter exercises to test your understanding.

Practice Journal Entries

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Practice recording transactions through journal entries to reinforce your understanding of basic accounting principles.

Browse courses on Journal Entries

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Review the different types of journal entries.
Select a set of practice transactions.
Record the transactions in the appropriate journal.
Check your work by preparing a trial balance.

Follow Online Tutorials on Accounting Software

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Enhance your practical skills by following tutorials on using accounting software.

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Search for online tutorials on accounting software.
Choose a tutorial that aligns with your learning goals.
Follow the tutorial step-by-step.
Practice using the software on your own.

Practice Preparing Trial Balances

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Reinforce your understanding of preparing trial balances through regular practice.

Browse courses on Trial Balance

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Find a set of financial transactions.
Create a trial balance template.
Enter the transactions into the template.
Calculate the debit and credit totals.
Balance the trial balance.

Explore Financial Statement Preparation

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Follow online tutorials that guide you through the process of preparing basic financial statements, enhancing your understanding of their purpose and structure.

Browse courses on Financial Statements

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Find reputable online tutorials on financial statement preparation.
Choose a tutorial that aligns with your learning style and the specific financial statement you want to focus on.
Follow the instructions in the tutorial step-by-step.
Complete any practice exercises or quizzes within the tutorial.

Create a Step-by-Step Guide to Recording Journal Entries

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Solidify your understanding of journal entries by creating a comprehensive guide.

Browse courses on Journal Entries

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Gather information about journal entries, including their purpose and types.
Organize the information into a logical structure.
Write clear and concise instructions for each step.
Review and edit your guide for clarity and accuracy.

Create a Master Study Guide

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Organize and consolidate your course materials into a comprehensive study guide.

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Gather all of your course materials, including notes, assignments, and presentations.
Identify key concepts and topics covered in the course.
Create a structured outline for your study guide.
Summarize and synthesize the material from your course notes and assignments.
Include practice questions and exercises to test your understanding.

Develop an Accounting Simulation Game

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Apply your knowledge of accounting principles to create a hands-on simulation game.

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Design the game, including the rules, objectives, and challenges.
Develop the game mechanics, including the financial statements and transactions.
Implement the game using a programming language or spreadsheet software.
Test the game and make adjustments as needed.
Distribute the game to others to play and learn.

Career center

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

Accounting Clerk

Accounting Clerks perform a variety of tasks related to the recording and processing of financial transactions. This course can provide you with the knowledge and skills you need to be successful in this role by teaching you the principles and process of bookkeeping, how to prepare journal entries, and how to record transactions and events.

See salaries and explore the career path for Accounting Clerk

Accountant

Accountants provide financial information to help organizations make informed decisions. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as an Accountant.

See salaries and explore the career path for Accountant

Bookkeeper

Bookkeepers are responsible for maintaining financial records and preparing financial statements. This course can provide you with the knowledge and skills you need to be successful in this role by teaching you the principles and concepts relating to maintaining financial records and how to prepare financial statements.

See salaries and explore the career path for Bookkeeper

Financial Planner

Financial Planners provide financial advice and guidance to individuals and families. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Financial Planner.

See salaries and explore the career path for Financial Planner

Auditor

Auditors examine and evaluate financial records to ensure accuracy and compliance. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as an Auditor.

See salaries and explore the career path for Auditor

Tax Accountant

Tax Accountants prepare and file tax returns for individuals and organizations. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Tax Accountant.

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Forensic Accountant

Forensic Accountants investigate financial fraud and other financial crimes. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Forensic Accountant.

See salaries and explore the career path for Forensic Accountant

Management Accountant

Management Accountants provide financial information to help organizations make informed decisions. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Management Accountant.

See salaries and explore the career path for Management Accountant

Cost Accountant

Cost Accountants analyze and report on the costs of products and services. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Cost Accountant.

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Investment Analyst

Investment Analysts evaluate and recommend investments for individuals and organizations. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as an Investment Analyst.

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Financial Manager

Financial Managers oversee the financial operations of organizations. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Financial Manager.

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Budget Analyst

Budget Analysts develop and manage budgets for organizations. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Budget Analyst.

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Financial Analyst

Financial Analysts provide financial advice and recommendations to individuals and organizations. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Financial Analyst.

See salaries and explore the career path for Financial Analyst

Risk Manager

Risk Managers assess and manage risks for organizations. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course can provide you with the knowledge and skills you need to build a foundation for a career as a Risk Manager.

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Data Analyst

Data Analysts collect, analyze, and interpret data to help organizations make informed decisions. To be successful in this role, you need a strong understanding of accounting principles and concepts. This course may be useful for building a foundation for a career as a Data Analyst, as it can provide you with the knowledge and skills you need to understand and interpret financial data.

See salaries and explore the career path for Data Analyst