Introduction to bookkeeping and accounting

Introduction to bookkeeping and accounting

Course provided by Open University

Summary overview

  • Online anytime

  • 8 hours study time

  • Accountancy, banking and finance

  • Free

  • Level 1

About this course

Learn about the essential numerical skills required for accounting and bookkeeping. This free 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.

Learning outcomes

  1. Understand and apply the essential numerical skills required for bookkeeping and accounting.
  2. Understand and explain the relationship between the accounting equation and double-entry bookkeeping.
  3. Record transactions in the appropriate ledger accounts using the double-entry bookkeeping system.
  4. Balance off ledger accounts at the end of an accounting period.
  5. Prepare a trial balance, balance sheet and a profit and loss account.