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.

• Introduction
• Learning outcomes
• 1 Essential numerical skills required for bookkeeping and accounting
• 1 Essential numerical skills required for bookkeeping and accounting
• 1.1 Use of BODMAS and brackets
• 1.2 Use of calculator memory
• 1.3 Rounding
• 1.4 Fractions
• 1.5 Ratios
• 1.6 Percentages
• 1.7 Negative numbers and the use of brackets
• 1.8 The test of reasonableness
• 1.9 Table of equivalencies
• 1.10 Manipulation of equations and formulae
• 2 Double entry and the balance sheet
• 2 Double entry and the balance sheet
• 2.1 Accounting records and financial statements
• 2.2 Accounting records and the business entity concept
• 2.3 Definitions of assets, capital and liabilities
• 2.3.1 What are assets, capital and liabilities?
• 2.4 A simplified UK balance sheet format
• 2.5 T-accounts, debits and credits
• 2.6 Balancing off accounts and preparing a trial balance
• 2.7 Summary
• 3 Double entry and the profit and loss account
• 3 Double entry and the profit and loss account
• 3.1 Making a profit and generating cash
• 3.2 The effect of profit on the accounting equation
• 3.3 The profit and loss account
• 3.4 Income and expense accounts
• 3.5 Accounting for closing stock
• 3.6 The accounting equation and the double-entry rules for income and expenses
• 3.7 Post trial balance nominal ledger accounts
• 3.8 Summary
• Conclusion
• Next steps
• Acknowledgements