#BU-03-26 Bookkeeping for Personal and Business Accounting
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- Course level: All Levels
About Course
The Open UniversityDescription
Get practical financial skills to help you balance the books
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.
Who will you learn with?
I am Executive Dean of Faculty of Business and Law and Professor of Financial Management and Corporate Governance at the Open University Business School.
Who developed the course?
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.
What Will I Learn?
- Describe and define bookkeeping and accounting
- Explain the general purposes and functions of accounting
- Explain the differences between management and financial accounting
- Describe the main elements of financial accounting information – assets, liabilities, revenue and expenses
- Identify the main financial statements and their purposes
- Apply the essential numerical skills required for bookkeeping and accounting
- Explain the relationship between the accounting equation and double-entry bookkeeping
- Record transactions in the appropriate ledger accounts using the double-entry bookkeeping system
- Balance off ledger accounts at the end of an accounting period
- Produce a trial balance, balance sheet and a profit and loss account
Topics for this course
Accounting terminology
Should we be doing our own accounts?
Welcome to the course
Common terms and differences
What is bookkeeping?
Accounting and reporting
Different accounting terminology
Reasons for and objectives of accounting
Management and financial accounting
The main elements of accounting information
The balance sheet
In this 21st century, we are always moonlight clan. Salaries never seem to go far enough, I have to say, because we don't manage our finances very well. This course made me rethink my financial planning. It's a good course. I will recommend it to my friends.
After taking this course, I was able to balance my books well and understand how the concepts of profit and loss lead to income or debt. Manage your finances better.
In this course, I have mastered a lot of commonly used financial terms, basic mathematics, and acquired the ability to use knowledge. Benefited a lot.
This course is very practical. Managing our own finances is something we must all learn. How to make ends meet and save money is also something to learn. I love it.
Material Includes
- Official Certificate
Requirements
- You can largely work from pen and paper in your notebook, and for more complex tasks use a standard calculator, or if you have a smartphone, the calculator app there. In the second half of the course there is a pre-made spreadsheet template for you to download and work through the exercises in Microsoft’s Excel, or free online software like Google Spreadsheets.
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Target Audience
- 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.