Accounting & Bookkeeping 101 for Everyone

no certificate
with CEU Certificate*
-
24Lessons
-
29Exams &
Assignments -
29,594Students
have taken this course -
32Hours
average time -
3.2CEUs
Course Description
Why is accounting important to understand?
Accounting is the most important part of any successful business. It records all profits, losses, credits, and debits. It tells you the state of the business in numbers, not words. It provides the most vital information you need to understand how your business grows, makes money, where the profit of a business goes, and what your cash flow is. In short, if you do not understand the basic principles of accounting, you cannot run a business, nor can you even hope to help a business grow and profit.
If you work for a company and are currently managing any aspect of the company, or if you aspire to move up to management, then you need to understand what accounting is. Moreover, if you are an entrepreneur, or you ever plan to start your own business, you need to understand, at the very least, the basic principles of accounting.
This course is going to help you understand the basic principles of accounting so that you can read and understand the three main financial reports of a company: the balance sheet, the income statement, and the cash flow statement. Moreover, you'll know and understand the basic accounting equation and how to factor in debits, credits, inventory, and taxes, which will help you to make the right decisions to increase your company's wealth and profit.
In this course, we take everything in baby-steps. We assume you know nothing about accounting or any accounting terms. We strive to explain all accounting concepts in every day language, using real-life examples wherever possible. Additionally, we've set up the course so that you need to master all concepts in any given lesson before you can successfully complete the lesson and move on. As such, this course is built incrementally. You need to understand each previous lesson fully in order to understand the concepts covered in later lessons.
Learning accounting is like any new skill. There is a learning curve, and the skill needs to be practiced (or used in this case) in order for it to be effective. If you have access to your company's financial statements, please take the time to apply our examples to your company's financials. If you are an entrepreneur, a business owner, or plan to start your own business, copy our examples used in this course, using your own business relevant assets.
Those of us who are born as right-brain thinkers tend to be better at creative, imaginative, passionate activities. Then there are those of use who are left-brain thinkers--naturally adept at working with numbers, applying logical reasoning, and analytically solving problems.
Regardless of which category you fall into, the truth is that anyone can learn the basic principles of accounting and develop a knack for managing the financial aspects of a business. The upside of learning basic accounting principles is that, regardless of whether it is a large Fortune 500 company or a small entrepreneurial start-up, the same fundamental rules apply when working with the bottom line.
- You'll gain a fundamental understanding of accounting concepts.
- You'll be able to both read and extract useful, practical information contained in financial statements and documents.
- The knowledge you'll acquire will allow you to improve your personal financial situation.
- It'll improve your business' or company's bottom line.
- PLUS it helps pave the way to becoming not just a successful but a profitable entrepreneur.
- Completely Online
- Self-Paced
- Printable Lessons
- Full HD Video
- 6 Months to Complete
- 24/7 Availability
- Start Anytime
- PC & Mac Compatible
- Android & iOS Friendly
- Accredited CEUs

Course Lessons
Introduction to Accounting: Why accounting is a necessary skill
Lesson 1 Video
Review Article: Business and Accounting
Take Survey: Reasons for Taking this Course
Complete Assignment: Tell me about yourself
The History of Accounting
Lesson 2 Video
Review Article: Accounting History
Complete: Exam : History of Accounting
The Fundamentals of Accounting
Lesson 3 Video
Complete: Exam : Basic Accounting Principles
Complete: Exam : Accounting/Bookkeeping Terms
Assets, Liabilities, and Owners' Equity
Lesson 4 Video
Complete: Exam : Assets, Liabilities and Owners' Equity
Financial Reports
Lesson 5 Video
Review Article: Accounting And Finance
Complete: Exam : Financial Reports
The Income Statement
Lesson 6 Video
Review Article: How to Prepare an Income Statement
Complete: Exam : Income Statement
The Income Statement: Understanding Revenue, Expenses, Income, and Retained Earnings
Lesson 7 Video
Review Article: Deciding between Cash-Basis and Accrual Accounting
Complete: Assets Assignment
Complete Assignment: Determining Net Income
Worksheet Problems: Income Statement, Revenue, Expenses, Net Income
Lesson 8 Video
Review Article: Income Statement Template
Complete: Income Statement Assignment
Complete: Exam : Income Statement, Revenue, Expenses, Net Income
The Balance Sheet
Lesson 9 Video
Complete: Exam : Balance Sheet
Worksheet Problems: The Balance Sheet
Lesson 10 Video
Review 2 Articles: Balance Sheet; Double-Entry Accounting
Worksheet Problems for Accounting Equation, Debits, and Credits
Lesson 11 Video
Complete: Exam : Credits, Debits, Balance Sheet, Double Entry Accounting
The Accounting Structure: A Closer Look
Lesson 12 Video
Review 2 Articles: Accounting Journals and Ledgers - Transaction Posting; Recording Transactions
Complete: Exam : Journals, Ledgers, Accounting Structure
Bookkeeping 101
Lesson 13 Video
Review Article: Contingent Liability
Complete: Exam : Bookkeeping 101
Bookkeeping: Dos and Don'ts
Lesson 14 Video
Complete: Exam : Bookkeeping
The Accounting Cycle
Lesson 15 Video
Review 2 Articles: The Accounting Cycle for a Small Business; The Accounting Process
Complete: Exam : Accounting Cycle Exam
Complete: Exam : The Accounting Period, Accounting Cycle
Inventory, FIFO, LIFO, Cost of Goods Sold
Lesson 16 Video
Review 3 Articles: Perpetual vs. Periodic Inventory System; FIFO LIFO Inventory Valuation Methods; Inventory Accounting
Complete: Exam : Cost of Goods Sold
Complete: Exam : Inventory Accounting
Cash Flow, Fixed Assets, Depreciation
Lesson 17 Video
Review 2 Articles: Fixed Assets; Why Is Depreciation an Expense?
Complete: Exam : Cash Flow
Management Accounting
Lesson 18 Video
Review 3 Articles: Management Accounting; Throughput Accounting; The Evolution of Managerial Accounting Practices
Complete: Exam : Management Accounting
Cash Flow Management
Lesson 19 Video
Review Article: Understanding Cash Flow Analysis
Complete: Exam : Cash Flow Management
Accounting Ratios: Liquidity, Solvency, and Profitability
Lesson 20 Video
Review 2 Articles: Ratio Analysis; Types of Financial Ratios
Complete: Exam : Accounting Ratios: Liquidity, Solvency and Profitability
Asset Management and Asset Valuation
Lesson 21 Video
Review Article: Asset Valuation
Complete: Exam : Asset Management and Asset Valuation
Payroll Accounting
Lesson 22 Video
Review 2 Articles: Payroll Accounting and Examples; Prevent Payroll Errors
Complete: Exam : Payroll Accounting
The Audit
Lesson 23 Video
Review 2 Articles: How to Prepare for a Business Audit; Audit Preparation
Complete: Exam : The Audit
Ethical Business Practices in Accounting
Lesson 24 Video
Review Article: Corporate Governance
Take Poll: Final Course Poll - Your Opinion
Take Survey: Program Evaluation Follow-up Survey (End of Course)
Complete: Exam : Ethical Business Practices in Accounting
Complete: The Final Exam
Learning Outcomes
- Identify why accounting is a necessary skill.
- Summarize the history of accounting.
- Identify and describe assets, liabilities and owners' equity.
- Recognize and compare the major financial reports.
- Describe and create a company's Income Statement.
- Compare and contrast a company's revenue, expenses, income, and retained earnings.
- Solve worksheet problems involving income statements, revenue, expenses, and net income.
- Identify the key elements of a Balance Sheet.
- Balance the accounting equation and properly chart debits and credits.
- Describe the key elements of bookkeeping.
- Avoid the pitfalls of bad bookkeeping habits.
- Describe the accounting cycle.
- Define key terms: inventory, FIFO, LIFO, Cost of Goods Sold.
- Summarize cash flow, identify fixed assets, and describe depreciation.
- Demonstrate understanding of liquidity, solvency and profitability.
- Summarize asset management and asset valuation.
- Be apprised of key laws and procedures involved in payroll accounting.
- Know what to expect in an audit.
- Summarize ethical business practices in accounting, and
- Demonstrate mastery of lesson content at levels of 70% or higher.
Additional Course Information

- Document Your Lifelong Learning Achievements
- Earn an Official Certificate Documenting Course Hours and CEUs
- Verify Your Certificate with a Unique Serial Number Online
- View and Share Your Certificate Online or Download/Print as PDF
- Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media

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Time to complete | 6 months |
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Time to complete | 12 Months |
No. of courses | 500+ |
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Includes CEUs |
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Self-paced |
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Instructor support |
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Time to complete | 24 Months |
No. of courses | 500+ |
Student Testimonials
- "I thought this course was very well organized. It flowed very well from one lesson to the next and assignments corresponded well with each lesson. I liked the fact that the instructor broke accounting into small sections and put them in easy to understand lessons....I thought the instructor for this course was wonderful. She made everything easy to understand. You can always tell when you have stumbled across a great instructor when you take difficult course material and make it simple. Great instructors make learning enjoyable and I would definitely take another course from her!!" -- Kelly H.
- "I found the examples for the Accounting Equation, balance sheets, income statements to be very helpful....The course was excellent, a challenge at times, but an excellent tool to understanding basic accounting." -- Susan H.
- "The lessons were very well put togethor and explained the material enthusiastically and in a way someone new to the subject could understand." -- George M.
- "I loved this class!! I have no accounting background and I thought the content was right on target. I feel like I'm far more familiar with the basic principles of accounting than I was before. This is an excellent class if you're looking to familiarize yourself with bookkeeping/accounting. I highly recommend this course." -- Zonda H.
- "The course was well planned and in language that was easy to understand." -- Doris G.
- "The most helpful was defining the debits and credits and properly applying them to the ledger. I was very confused on some of the aspects of bookkeeping and accounting and it was explained clearly in terms I could relate to....Fantastic! Very helpful in day to day, not just academically!!" -- Annie W.
- "Each lesson was well prepared and easy to follow. Also, being able to discuss with other students as well as the instructor was beneficial....I enjoyed taking this class and look forward to taking other classes in the future. Thanks to the professors for their time and effort in preparing this class." -- Martine W.
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