Fundamentals of accounting

To start with you will learn about the fundamental difference between bookkeeping and accounting. In Week 1 you will also learn how the purpose of management accounting differs from that of financial accounting. In Week 2 you will gain some practical skills in numeracy, including learning about rearranging simple equations such as the accounting equation. In Week 3 you will gain knowledge and understanding of the fundamental concepts that underpin double-entry accounting. You will also learn the rules of double-entry bookkeeping and how to record transactions in ledger accounts. In the fourth and final week you will learn how to prepare a trial balance and the balance sheet (also known as the statement of financial position). In the final week you will also be introduced to the income statement (also known as the profit and loss statement) and how it fits with the accounting equation and the balance sheet.

When you complete the course you'll receive a free statement of participation to help you to share your achievement.

Course learning outcomes

After studying this course, you should be able to: