Fundamentals of accounting
OpenLearn Review
Location
Online(Course Link)
Dates
On Demand
Course Categories
Business and Management
Certficate
Yes()
Language
English
Course Fees
FreeNo. of Attendant
Unlimited
Acquired Skills/Covered Subjects
- understand and explain the purpose and role of bookkeeping and accounting, both financial and management, within any business,understand and apply the key numerical skills required for accounting,understand and describe the three concepts that form the basis of double-entry accounting (the business entity concept, the accounting equation and the duality concept)
| Provider Name | OpenLearn |
|---|---|
| Training Areas |
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| Website | http://www.openuniversity.edu/ |
| About The Provider |
Since its launch in 2006, OpenLearn has become an integrated part of The Open University, with the site attracting more than 69 million visitors – many of which go on to make an enquiry about becoming a formal student, strengthening the journey between informal and formal learning. The OpenLearn team originate, commission and develop content that unites faculty and University priorities with areas of topical and general interest. This is in support of our own student population in their academic, skills and career and personal development (CPD) endeavours, delivering quality assets openly available for teaching and learning. OL deliver bite-sized learning experiences designed to fit easily into daily life, so whether you're a busy parent looking to get promoted at work, or back-packing across Africa and wanting to increase your learning, we are open with no requirements to access our free materials. Some of OL academic-led content includes: |
This free course, Fundamentals of accounting, will introduce you to the essential concepts and skills of bookkeeping and accounting in four weeks.
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.
