What will you learn

Skills and knowledge you will gain after completing this course:

  • What the double entry system is, and why is it important

  • he nature and true business definition of the five types of accounts: - Assets - Liabilities - Owner’s equity - Expenses - Revenues

  • How to use T accounts to help with your accounting. The importance of using accounting and bookkeeping software

  • How to create and understand balance sheets, profit and loss statements

  • How to create and post journal entries, use a trial balance to check your accounts

  • The eight steps of the accounting cycle and where the lessons you have learned in this course fit into the cycle

Course curriculum

    1. Course Introduction

    2. Bookkeeping vs Accounting

    1. Double Entry System

    2. Five Account Types

    3. Nature of the Five Account Types

    4. T Accounts

    5. Accounting and Bookkeeping Software

    1. Assets and Liabilities

    2. Assets

    3. Liabilities

    4. The Accounting Equation

    1. Introduction

    2. Owner’s Equity

    3. More Balance Sheet Items

    4. Presentation

    1. Introduction

    2. First Example

    3. Second Example

    4. Presentation

    1. Creating a Journal

    2. Posting a Journal

About this course

  • £42.99
  • 24 lessons
  • 1 hour of video content

You'll learn from

Course Instructor Mark Cunningham

Hi I'm Mark and I'm excited to be your instructor! During my career as a qualified accountant I have been told many times that I am good at explaining things. I believe this is because I enjoy breaking down big problems into small parts and teaching people from the ground up. I know from experience that it is always best to teach the basics first. Once my students have a solid foundation to build on, I can move on to the harder lessons. I love watching my students go from complete novices to experts who can confidently use their new skills in real life. I also know from experience that students learn better when they actively follow tutorials or complete practical tests at the end of each lesson. There is no better way to learn than by doing. My courses have been designed along those principles to give you the best chance possible of becoming a subject expert. I hope my courses help you learn what you need to know to reach your full potential. Happy learning!

Discover your potential, starting today

FAQ

More about this Accounting 101- Learn the basics course

  • Who will benefit from this course?

    Are you interested in unravelling the world of numbers and financial data? Do you find yourself curious about the language that businesses use to communicate their financial health? If you're looking to build a strong foundation in the realm of accounting, then this Accounting Basics course is tailor-made for you. Whether you're a small business owner aiming to manage your company's finances more effectively or a student pursuing a career in finance, this course will equip you with the essential skills you need. Students: If you're a student majoring in business, finance, economics, or any related field, this course will give you the head start you need to grasp advanced accounting concepts later in your academic journey. Small Business Owners: Managing your business's finances can be a daunting task. This course will empower you to understand and interpret your financial statements, enabling better decision-making and improved financial performance. Aspiring Finance Professionals: If you're considering a career in accounting, auditing, financial analysis, or any finance-related role, this course will lay the groundwork for your future success. Non-Finance Professionals: Even if you're not directly working in finance, understanding accounting basics can enhance your ability to interpret financial reports, contribute to budget discussions, and communicate effectively with finance teams.

  • Career prospects after completing this course

    Embarking on the journey of learning accounting basics opens up a wide array of promising career opportunities in various industries. The knowledge and skills gained from this course lay a strong foundation for individuals seeking to establish themselves in the financial world. Here are some exciting career prospects that await you after completing the Accounting Basics course: Accounts Payable/Receivable Clerk: These roles involve handling an organization's incoming and outgoing payments. Your understanding of financial transactions and attention to detail will be crucial in ensuring smooth cash flow management. Financial Analyst: With a grasp of financial statements and basic ratios, you can transition into a financial analyst role. You'll analyze financial data, assess performance trends, and provide valuable insights to support strategic decision-making. Small Business Owner: If you're an entrepreneur, the course equips you with the knowledge to manage your business's finances efficiently. Understanding financial statements will enable you to make informed choices, track profitability, and plan for growth. Accounting Assistant: Working alongside accountants, you'll assist in tasks such as reconciling accounts, preparing financial documents, and supporting the day-to-day financial operations of an organization. Tax Preparer: Understanding financial records and transactions is crucial in preparing accurate tax returns for individuals and businesses. Your knowledge can be applied to ensure compliance and optimize tax situations. Further Education in Accounting: For those who discover a passion for accounting, this course serves as a stepping stone for more advanced studies in accounting, finance, or related fields. It can be a starting point toward pursuing a Certified Public Accountant (CPA) designation or similar qualifications. Career Advancement: Whether you're already employed in a non-finance role or looking to advance within your current organization, your newfound accounting skills can set you on a path toward promotions and increased responsibilities. Consultant or Freelancer: Armed with a fundamental understanding of accounting, you can offer consulting services to businesses seeking to improve their financial management practices. Freelancing opportunities in bookkeeping and financial analysis are also viable options. The Accounting Basics course provides a versatile skill set that transcends industries and job roles. Your ability to comprehend financial information, make informed decisions, and contribute to organizational success will position you as a valuable asset in the professional world. So, whether you're considering a career change, aiming for advancement, or simply expanding your knowledge horizons, completing this course is your first step toward a promising and rewarding career journey in the world of finance and business.

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