Free course

Fundamentals of accounting

Free statement of participation on completion

This free course, Fundamentals of accounting, will introduce you to the essential concepts and skills of bookkeeping and accounting in four weeks.

To start with you will learn about the fundamental difference between bookkeeping and accounting. In Week 1 you will also learn how the purpose of management accounting differs from that of financial accounting. In Week 2 you will gain some practical skills in numeracy, including learning about rearranging simple equations such as the accounting equation. In Week 3 you will gain knowledge and understanding of the fundamental concepts that underpin double-entry accounting. You will also learn the rules of double-entry bookkeeping and how to record transactions in ledger accounts. In the fourth and final week you will learn how to prepare a trial balance and the balance sheet (also known as the statement of financial position). In the final week you will also be introduced to the income statement (also known as the profit and loss statement) and how it fits with the accounting equation and the balance sheet.


You can start this course right now without signing-up. Click on any of the course content sections below to start at any point in this course.
If you want to be able to track your progress, earn a free Statement of Participation, and access all course quizzes and activities, sign-up.

Course content