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Fundamentals of accounting

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Fundamentals of accounting provided by OpenLearn is a comprehensive online course, which lasts for 8 hours worth of material. Upon completion of the course, you can receive an e-certificate from OpenLearn. The course is taught in Englishand is Free Certificate. Visit the course page at OpenLearn for detailed price information.

The Open University via OpenLearn
8 hours worth of material
Self Paced
Overview

  • Learn about the essential numerical and double-entry skills required for accounting. This free course, Fundamentals of accounting, will explain the fundamental purpose and role of accounting as ...

Syllabus

    • Week1Week 1: The purpose and role of bookkeeping and accounting
    • Introduction
    • 1.1 Bookkeeping and accounting
    • 1.2 The four fundamental financial questions
    • 1.3 Income and expenses in accounting
    • 1.4 Capital in accounting
    • 1.5 Financial and management accounting
    • 1.5.1 The key differences between financial and management accounting
    • Summary of Week 1
    • Acknowledgements
    • Week2Week 2: Essential numerical skills for accounting
    • Introduction
    • 2.1 Mastering accounting numeracy
    • 2.2 Use of BODMAS and brackets
    • 2.3 Use of calculator memory
    • 2.4 Rounding
    • 2.5 Fractions
    • 2.6 Ratios
    • 2.7 Percentages
    • 2.8 Negative numbers and the use of brackets
    • 2.9 The test of reasonableness
    • 2.10 Table of equivalencies
    • 2.11 Manipulation of equations
    • 2.11.1 Manipulation of formulae
    • Summary of Week 2
    • Acknowledgements
    • Week3Week 3: Double-entry accounting
    • Introduction
    • 3.1 The essential concepts behind double-entry accounting
    • 3.1.1 The business entity concept
    • 3.1.2 The accounting equation
    • 3.1.3 The duality principle in practice
    • 3.2 The system of double-entry accounting
    • 3.2.1 Following the double-entry rules
    • 3.2.2 Recording transactions using T-accounts
    • Summary of Week 3
    • Acknowledgements
    • Week4Week 4: Preparing the trial balance and the balance sheet
    • Introduction
    • 4.1 From T-accounts to the trial balance
    • 4.2 The T-accounts before their balance is worked out
    • 4.2.1 The procedure for balancing off T-accounts
    • 4.3 The trial balance
    • 4.4 The balance sheet
    • 4.4.1 Preparing a balance sheet
    • 4.5 The effect of profit on the accounting equation
    • Summary of Week 4
    • End-of-course conclusion
    • Acknowledgements

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