Basic Accounting

Overview

This free online Accounting course is designed to enrich your knowledge about systems for gathering, evaluating, and reporting information about financial and business transactions. The course begins with explaining accounting and then continues with book-keeping and record-keeping concepts of accounting. You will learn to track transactions, report them, and be knowledgeable about the accounting cycle. Complete the assigned exercises to earn the Basic Accounting certificate upon successfully completing the course.

Syllabus

What is Accounting?

This section discusses the basics and different types of accounting. It also covers different stakeholders involved in accounting.

BookKeeping

This section discusses what bookkeeping is and points out to the importance of doing it systematically. It also covers different types of bookkeeping practices.

Record keeping system

This section explains the logical approach to maintaining records within the organization. It discusses various elements in the record-keeping system with examples.

Tracking Transactions

This section covers the practices to track transactions and the involvement of sales tasks in cash flow. It also discusses various elements that complete transactions.

Reporting Transactions

This section explains the concepts of the balance sheet, income statement, and balance statement. It also demonstrates the approach to maintaining accounts through these practices.

Accounting Concepts

This section explains separate entities, going concern, double entry, and matching concepts in accounting with examples.

Accounting Cycle

This section defines the accounting cycle and explains the collection of transactions, recording journals, positioning ledger accounts, trial balance, adjusting entities, preparing financial statements, and closing entities phases.

ChatGPT for Accounting

This module introduces how ChatGPT can support accountants by integrating with accounting software, providing step-by-step financial solutions, and simplifying the basics of financial accounting for greater accuracy and efficiency.