You should learn accounting if you are interested in pursuing a career in this field. If you don’t know much about accounting, you can take an introduction to accounting course and learn accounting for beginners. Accounting is an important part of life because it helps you monitor your income and expenses.
Understanding how to prepare your taxes, balance sheet, and manage your finances is critical. As a result, if you want to pursue a career in accounting, it is prudent to gain some knowledge in accounting theory and accounting skills. This article will provide an intro to accounting, go over various learning methods, as well as go over the best accounting courses for beginners.
What Is Accounting?
Accounting is the process through which a company keeps track of, organizes, and interprets its financial data. A wider definition would be that accounting is the record of all financial transactions, and includes sorting, storing, retrieving, summarizing, and presenting reports and analyses.
How to Learn Accounting for Beginners
- Online Courses. A four-year degree is a costly option, so one of the best options to learn about accounting is through online courses. You can find the best online accounting courses and learn accounting.
- Accounting Degree Programs. Accounting degrees can take up to four years to complete. A Bachelor of Science in Accounting is one of the most popular and widely used degrees. There are several online accounting degree programs you can choose from.
- Accounting Accelerated Program. This is a faster program than a traditional accounting degree program. An accounting degree can be obtained in one to two years if you take an accelerated accounting program.
- Online College. With an online college, you can earn college credits from the comfort of your own home. You can also further your education in the same way that you would in a traditional college class.
- Free Educational Resources. There are many free open online educational accounting resources out there. Some of the places you can find free resources are Accounting Coach, Library Guides, Furman University, and many more. Most of these educational resources offer free textbook libraries.
Best Accounting Courses for Beginners
|Accounting 1 Simplified for You||Udemy||$49.99||2.5 hours|
|Accounting 101: How to read an Accounting Balance Sheet||Udemy||$84.99||2 hours|
|Accounting Analysis I: Measurement and Disclosure of Assets||Coursera||Free||24 hours|
|Accounting Analysis I: The Role of Accounting as an Information System||Coursera||Free||26 hours|
|Accounting in 60 Minutes – A Brief Introduction||Udemy||$34.99||1 hour|
|Financial Accounting Part 1||LinkedIn Learning||$39.99||3 hours and 29 minutes|
|Fundamentals of financial and management accounting||Coursera||Free||12 hours|
|How to Read Financial Statements||Udemy||$24.99||2.5 hours|
|The Complete Introduction To Accounting and Finance||Udemy||$89.99||7.5 hours|
|Understanding Financial Statements: Company Position||Coursera||Free||12 hours|
The Best Intro to Accounting Courses: Explained
There are many accounting courses that can help you learn accounting. Some of the best online resources are listed below.
Accounting 1 Simplified for You | Udemy
This is an accounting course developed by Majo Jacinto. It is suitable for beginner audiences, bookkeepers, accounting clerks, and college students. Accounting course 1 aims to explain how businesses work and what accounting is. However, it also delves into recording business financial transactions, designing a business accounting system, and adjusting records.
Accounting 101: How to read an Accounting Balance Sheet | Udemy
Accounting course 101 is provided by KayOne Academy, and is ideal for entrepreneurs and those who want to learn more about accounting and finance. It teaches the fundamental principles in finance, financial analysis techniques, financial statements, case studies, income, and cash flow statements.
Accounting Analysis I: Measurement and Disclosure of Assets | Coursera
This is a beginner four-week course provided by University Of Illinois at Urbana-Champaign.
Week one is for course orientation. In week two, students will learn about assets, balance sheets, and an overview of what is typically presented in a balance sheet. Week three is about defining the concepts of liabilities and how they arise.
Week four is all about equity and how the balance sheet fits together. In the last module, students will develop an understanding of what equity entails. It will also illustrate how the balance sheet’s various components interact with one another.
Accounting Analysis I: The Role of Accounting as an Information System | Coursera
This is a four-week course that is part of the five-course Financial Reporting Specialization collection offered by University of Illinois at Urbana-Champaign. The first week is an orientation introduction to accounting. The second week focuses on accounting processes and learning the four basic financial statements.
In the third week, students can learn about balance sheets, disclosure forms, and financial statements. The fourth week focuses on the income statement and accounting changes. It is important to note that the statement of cash flows will be introduced in later specialization courses if you want to learn about it.
Accounting in 60 Minutes – A Brief Introduction | Udemy
This is a brief beginner’s accounting course developed by Vincent Turner suitable for business owners, managers, and business analysts. In this one-hour course, you can learn about accounting equations, balance sheets, trial balance, income statements, debt, credits, and why profit does not equal cash.
Accounting: From Beginner to Advanced! | Udemy
This is an entry-level accounting course provided by Stefan Ignatovski. In this course, students can learn about debit and credit, FIFO and LIFO, an accounting cycle, bad debt, and dividends. Students can also find information about accounting for business, bonds, fixed assets, and depreciation.
Financial Accounting Part 1 | LinkedIn Learning
The Financial Accounting Part 1 course is developed by LinkedIn Learning and provides a solid understanding of financial accounting. People can learn about assets, liabilities, owner’s equity, financial statements, accrual accounting, debit, and credit. This is an MBA-level course that can help you bridge the gap between accounting academics and real-world accounting.
Fundamentals of Financial and Management Accounting | Coursera
This is a four-week accounting course for beginners offered by Politecnico di Milano in collaboration with Coursera. This course covers introductory accounting, along with things like financial management, annual reports, balance sheets, cash flow statements, long-term decision making, investment appraisal, and the application of net present value.
How to Read Financial Statements: Build Financial Literacy | Udemy
This course is offered by David Johnson and is suitable for business students, managers, investors, and non-finance professionals. Prospective finance professionals can learn about the accounting process, financial and accounting statements, and accounting basics, as well as put their knowledge to the test with a Facebook case study.
The Complete Introduction To Accounting and Finance | Udemy
This is an introductory course developed by Chris Benjamin, MBA & CFO. It is suitable for entrepreneurs or small business owners. This course consists of on-demand videos with topics like cost accounting, financial reporting, budgets and forecasts, exit strategies, and going public on the stock market. It also covers how to prepare, analyze and interpret financial statements.
Is Learning Accounting Worth It?
Yes, learning accounting is worth it. Even if you don’t have an accounting background, one of the best things you can do for yourself is to improve your knowledge in accounting. Managing your finances and knowing how to invest them is crucial for financial stability.
Introduction to Accounting FAQ
The fundamental concepts of accounting are accruals, going concern, and economic entity. These concepts consist of several key components, such as records, transactions, and financial statements.
The five basic principles of accounting are the principle of cost, the principle of revenue, the principle of expenditure, the principle of matching, and the principle of objectivity.
The main types of accounting are forensic accounting, corporate accounting, public accounting, and managerial accounting.
The four phases of accounting include recording, categorizing, summarizing, and interpreting financial data. The first phase identifies and records transactions, the second phase sorts and classifies transactions, the third phase summarizes, and the fourth phase interprets the data.
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