Introduction to bookkeeping and accounting 1 slideshareAnyone can learn for free on OpenLearn, but signing-up will give you access to your personal learning profile and record of achievements that you earn while you study. Anyone can learn for free on OpenLearn but creating an account lets you set up a personal learning profile which tracks your course progress and gives you access to Statements of Participation and digital badges you earn along the way. Sign-up now! This free course is available to start right now. Review the full course description and key learning outcomes and create an account and enrol if you want a free statement of participation. In this free course, Introduction to bookkeeping and accounting , we introduce you to the essential skills and concepts of bookkeeping and accounting. To start with you will gain some practical skills in numeracy including learning about rearranging simple equations as well as some important calculator skills.
Introduction to bookkeeping and accounting
Learn about the essential numerical skills required for accounting and bookkeeping. This free course, Introduction to bookkeeping and accounting, explains the fundamental rules of double-entry bookkeeping and how they are used to produce the balance sheet and the profit and loss account. 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. Creative commons: The Open University is proud to release this free course under a Creative Commons licence.
The Introduction to Bookkeeping and Financial Accounting programme introduces fundamental accounting principles and the concept of double entry bookkeeping and accounting. The programme is lectured by a highly experienced tutor and will give attendees a solid introduction to this subject area through practical examples and exercises. Full written notes are included. This programme comprises 6 sessions which cannot be booked individually as each session builds on knowledge gained in previous sessions. Anyone new to working in bookkeeping or financial accounting as an excellent basis for understanding and producing financial statements and for those who may have worked in the industry without formal training who wish to consolidate their knowledge and understanding. The programme is designed to provide attendees with a strong grasp of double entry bookkeeping and the ability to produce a simple set of financial statements from a trial balance. Introduction to Bookkeeping and Financial Accounting.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process. Bookkeeping is the work of a bookkeeper or book-keeper , who records the day-to-day financial transactions of a business. They usually write the daybooks which contain records of sales, purchases, receipts, and payments , and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc.
Course learning outcomes
The Accounting process involves a series of steps which include analyzing, recording, summarizing, reporting, reviewing, and interpreting financial information. Bookkeeping forms the foundation on which the accounting system is built and therefore all bookkeeping information should be complete, accurate and timely. The complexity of a bookkeeping system often depends on the size of the business and the number of transactions that are completed daily, weekly, and monthly. The individuals responsible for the Bookkeeping functions in Accounting are called Bookkeepers. In many organizations, Accountants usually plan and set up the accounting system and hand it over to bookkeepers. Bookeepers then record Financial Transactions on a day to day basis and keep records which are backed up by valid documentation. It is the Bookkeepers job while recording financial information in the accounting system to maintain adherence to accounting principles.