Bookkeeping for Personal and Business Accounting

Online Course

Future Learn
Bookkeeping for Personal and Business Accounting

What is the course about?

Bookkeeping for Personal and Business Accounting
The course Bookkeeping for Personal and Business Accounting is an online class provided by The Open University through Future Learn. It may be possible to receive a verified certification or use the course to prepare for a degree.
Learn how to balance your books and develop the skills to manage finances in personal and business environments.
Course description
  • Get practical financial skills to help you balance the books
  • 4 weeks
  • Discover how money flows in personal and business environments and develop the skills to manage your finances with this online accounting and bookkeeping course from the Open University.
  • You’ll master common terms, basic maths and gain the ability to put your knowledge into practice. After this course you’ll be able to perfectly balance your books and understand how concepts of profit and loss lead to revenue or debt.
  • Develop ideas through conversation
  • This course is not facilitated. Learners are encouraged to support one another, share personal experiences, and see new perspectives.
  • The reasons and objectives of management and financial accounting, including stewardship, control and accountability
  • Key terminology including income and expenses, assets and liabilities, profit and loss statements and the balance sheet
  • Intermediate numerical skills including BODMAS, ratios, percentages, fractions and negative numbers
  • The test of reasonableness and the table of equivalencies
  • Manipulating equations and formulas
  • Business entity and the dual aspect concepts
  • The relationship between the accounting equation and double-entry bookkeeping
  • Recording transactions in the appropriate ledger accounts using the double-entry bookkeeping system
  • Simple balance sheets in a vertical format
  • Balancing off accounts at the end of an accounting period
  • Preparing a trial balance
  • T accounts, debits and credits
  • Double-entry and the profit and loss account
  • The effect of profit on the accounting equation
  • Income and expense accounts
  • Accounting for closing stock
  • The account equation and double-entry rules
  • Trial balance nominal ledger accounts
  • This accounting course is for anyone wanting an introduction to bookkeeping and financial accounting. It might be of particular interest to small business owners, people who are self employed or those wanting to better manage their own finance. You don’t need any previous experience.
  • The Open University
  • The Open University (OU) is the largest academic institution in the UK and a world leader in flexible distance learning, with a mission to be open to people, places, methods and ideas.

Prerequisites & Facts

Bookkeeping for Personal and Business Accounting

Course Topic

Business & Management, Finance & Accounting

University, College, Institution

The Open University

Course Skill Level

Course Language


Place of class

Online, self-paced (see curriculum for more information)



Degree & Cost

Bookkeeping for Personal and Business Accounting

To obtain a verified certificate from Future Learn / The Open University you have to finish this course or the latest version of it, if there is a new edition. The class may be free of charge, but there could be some cost to receive a verified certificate or to access the learning materials. The specifics of the course may have been changed, please consult the provider to get the latest quotes and news.
The Open University
Bookkeeping for Personal and Business Accounting
provided by Future Learn


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Bookkeeping for Personal and Business Accounting
The Open University Future Learn
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School: The Open University
Topic: Business & Management, Finance & Accounting
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