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Created by:
Last updated:
April 8, 2022
Duration:
Unlimited Duration
FREE
This course includes:
Unlimited Duration
Badge on Completion
Certificate of completion
Unlimited Duration
Description
Learn about the essential numerical skills required for accounting and bookkeeping. This course, Introduction to bookkeeping and accounting, explains the fundamental rules of double-entry bookkeeping and how they are used to produce the balance sheet and the profit and loss account.
After studying this course, you should be able to:
- understand and apply the essential numerical skills required for bookkeeping and accounting
- understand and explain the relationship between the accounting equation and double-entry bookkeeping
- record transactions in the appropriate ledger accounts using the double-entry bookkeeping system
- balance off ledger accounts at the end of an accounting period
- prepare a trial balance, balance sheet and a profit and loss account.
Course Curriculum
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- Introduction 00:10:00
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- 1.Essential numerical skills required for bookkeeping and accounting 01:30:00
- 2 Double entry and the balance sheet 00:05:00
- 2.1 Accounting records and financial statements 00:30:00
- 2.3 Definitions of assets, capital and liabilities 00:20:00
- 2.3.1 What are assets, capital and liabilities? 01:20:00
- 2.4 A simplified UK balance sheet format 01:30:00
- 2.5 T-accounts, debits and credits 01:20:00
- 2.6 Balancing off accounts and preparing a trial balance 01:00:00
- 2.7 Summary 00:20:00
- Conclusion 00:10:00
About the instructor
4.8
4.8
Instructor Rating
14
Reviews
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Courses
38961
Students
Open University UK
