Bookkeeping for Personal and Business Accounting

Online Course

The Open University

Future Learn

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Bookkeeping for Personal and Business Accounting

What is the course about?
Prerequisites & Facts
Cost, Certificate & Degree
Reviews & Experiences

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.

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Prerequisites & Facts

Bookkeeping for Personal and Business Accounting

Course Topic

Business & Management, Finance & Accounting

University, College, Institution

The Open University

Course Skill Level

see course summary

Course Language

English

Place of class

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

Degree

Certificate

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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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