Free Accounting Course

This page contains our free online accounting course. It will teach you the basics of accounting and finance.

The Course Covers:

The basics of accounting
The basics of finance
Fundamentals of financial statements
Definitions of financial terminology

Course Modules:

Lesson 1: An Introduction to Accounting and Finance
Lesson 2: Accounting and Financial Terminology
Lesson 3: Understanding Financial Statements

To start the online course, scroll down

This course is FREE, and no registration is required. It is perfect for beginners!

Jump to:

An Introduction to Accounting

Fundamental Accounting Terminology

Understanding Financial Statements

accounting introduction

Our Free Online Accounting Course

Part 1: An Introduction to Accounting and Finance

Module overview:

Course Overview
Who should take this course
What to expect

Who should learn accounting?

Understanding the basics of accounting is an essential skill everyone should have, as everyone faces some form of accounting regularly.

The course is for anyone who wants to learn accounting, but more specifically, business owners, company directors, entrepreneurs, accounting students, business students, bookkeepers, and anyone with a general interest in accounting.

What is covered in the course?

The course will include:

Basic financial terms
Basic accounting principles
Financial statement basics
Various accounting and finance insights

accounting terminology

Part 2: Accounting and Financial Terminology

Module overview:

Sales
Expenses
Assets
Liabilities

What are sales?

A sale is the agreed cash exchange for providing a good or service.

Some sales result in an immediate exchange of cash, such as customers buying at the checkout of a shop. These are cash sales. Other sales result in money being exchanged later, even though the goods or services were provided. These are credit sales, including an invoice detailing the sale and payment terms.

Sales are also referred to as revenue, income, and turnover.

What are expenses?

An expense is a cost incurred by a business, company or other entity.

Typical expenses include rent, fuel, vehicle, stationery, printing, postage, insurance, software, computer, property maintenance, wages, salaries, subscriptions, training and travel costs.

Like sales, expenses are incurred in cash or credit. These are referred to as cash purchases and credit purchases.

Expenses are also referred to as overheads, outgoings, and purchases.

What are assets?

An asset is something a business, company, or other entity owns and has monetary value.

Examples of assets:

Office furniture

Motor vehicles

Machinery

Tools

Property

Assets can be tangible (physical), like an office desk. Assets, like copyrights and patents, are intangible (non-physical).

The main difference between assets and expenses is the resale value. Expenses, such as rent, insurance, and salaries, often have little or no value and cannot be resold. Assets have monetary value and could be sold if needed.

Cash and debts owed to a business are also assets.