Accounting & Bookkeeping Masterclass – Beginner to Advanced

About Course

Learn accounting and bookkeeping from beginner to advanced with this free online course from Udemy! This comprehensive course covers everything from the fundamentals of accounting to more advanced topics like financial statements and depreciation. You’ll learn how to track business money, prepare financial reports, and make informed business decisions.

This course is perfect for:

Accounting and Finance Students
Business Students
Aspiring Accountants
Professionals
Entrepreneurs
Business Owners
Investors
Startup founders

Topics covered include:

Introduction to Accounting
Accounting Standards
Types of Accounting
Accounting Terms
Cash and Accrual Accounting
Double-entry concept
Bookkeeping
General Ledger
Trial Balance and Financial Statements
Fixed Assets and Depreciation
Inventory Accounting
Financial Statements Preparation
Accounting for leases

No prior accounting knowledge is required! The course is taught by a Certified Chartered Accountant (ACCA) with over 12 years of experience in accounting and teaching.

Enroll now and start your accounting journey for free!

Bookkeeping | Rules of recording transactions
Accounting | Accounting Concepts | Period end Adjustments
Financial Statements Preperation | Profit & Loss Statement | Balance Sheet
Depreciation | Depreciation methods | Accounting for Depreciation
Inventory | Inventory Valuation methods | Inventory Accounting
Accruals & Prepayments
Bad and doubtful debts
Bank reconciliation

Course Content

Introduction to Accounting

A Message from the Professor
Understanding Accounting

01:32
Key classes and terms in Accounting

02:01
Understanding Profit & Profit & Loss Statement

01:29
Understanding Owner’s Capital & Balance Sheet

01:35
Seperate Entity Concept

02:10
Liabilities and Owner’s Capital

00:34
Understanding Dual Impact of a Transaction

01:36
The Accounting Equation

03:40

Recording Income, Expenses, Assets, Liabilites, & Owner’s Capital

Practice Bookkeeping, Accounting, & Financial Statements Preparation

Further classification in Assets, liabilities, Income and Expenses

Back to Practice Session

Bank Reconciliation

Credit Transactions Receivables Payables

Accounting for Expenses and Payables

Introduction and recording Cash Expenses

02:35
Recording Credit Expenses

01:39
Recording CancellationReversal of Credit Expenses

01:06
Recording Payment to Payables

01:20
Recording Interest charged for late payment

02:12
Accounting for Trade Discount

02:30
Accounting for Cash Discount

05:27
Practice – End to end Bookkeeping

18:36
Closing entries for April

06:02
Key documents related to Expenses and Payables

09:38

Accounting for Income and Receivables

Introduction

00:41
Recording Cash Income and its Reversal

01:24
Recording Credit Income and reversal

02:51
Recording Cash Received from Receivables

01:02
Recording Cash Received from Receivables

01:02
Interest charged to Receivables for late payment

01:44
Accounting for Trade Discount

01:22
Accounting for Cash Discount

04:19
Accounting for Bad Debts

01:49
Understanding Doubtful Debts and Allowance for Doubtful Debts

02:45
Accounting for the Allowance for Doubtful Debts

04:05
Understanding Gross and Net Receivables

01:23
Recording the Allowance – Detailed Example

02:53
Increasing the Allowance

02:17
Practice – Allowance for Doubtful Debts – Year 3

02:47
Introduction to Adjusting Entries Understanding Accounting & Bookkeeping Cycle

07:50

Sales tax – Brief Intro and Accounting

Accruals and Prepayments

Understanding Prepayments

02:44
Prepayments – Understanding Cashflows

02:39
Accounting for Prepaid Expenses

04:03
Prepaid Income – Overview and cashflows

03:04
Accounting for Prepaid Income

04:55
Before we start Accruals Accounting

01:04
Understanding Accruals

03:09
Accrued Expenses – Overview and Cashflows

04:05
Accounting for Accrued Expenses

05:50
Accrued Income – Overview and Cashflows

03:20
Accounting for Accrued Income

05:08

Accounting for Non-Current Assets

Introduction to Non-Current Assets

03:44
Introduction to Accounting for NCAs

06:11
Accounting for Purchase of NCAs

03:48
Fall in the value of asset – Depreciation

04:47
Understanding basic terms related to the NCA depreciation

03:11
Straight line method of depreciation

05:11
Example – straight line depreciation

02:20
Understanding Accumulated depreciation & Net Book Value

03:44
Depreciation method 2 – Reducing Balance Method

07:01
Practice – Reducing balance method

10:14
Mathematical shortcuts – reducing balance method

04:29
Calculating depreciation rate – reducing balance method

05:28
Depreciation method 3 Number of units method or machine hours method

05:42
Homework Machine hours method

02:35
Depreciation method 4 Sum of Years Digits Method

05:45
Example Sum of years digits method

02:44
Choosing a method of Depreciation

08:09
Sales or Assets Gain or loss on disposal

04:00
Example – Gain or loss on disposal

01:15
Accounting for NCA

05:09
Accounting entries – example

10:47
Methods of Accounting for Fixed Assets

03:02
Accounting entries – Asset account maintained at Cost

09:20

Accounting for Trading Business

Understanding Trading Business and Key Terms

04:45
Accounting for Purchases

02:14
Accounting for Sales

01:41
Inventory Accounting Systems and Periodic System of Inventory Accounting

03:43
Periodic System of Inventory Accounting – Example

12:45
Perpetual System of Inventory Accounting

02:40
Perpetual System of Inventory Accounting – Example

09:27
Inventory Valuation Methods

05:14
LIFO – Periodic Inventory Accounting

03:51
LIFO – Perpetual Inventory Accounting

01:54
Weighted Average under Periodic Inventory Accounting

02:29
Weighted Average under Perpetual Inventory Accounting

03:03
FIFO with Periodic and Perpetual Inventory Accounting

02:45
Recording Inventory damage

01:34
Understanding Net Realizible Value

01:23
Writing down inventory value to NRV

02:16
Example – writing down inventory

01:11

Understanding Profit terms and calculations

Add this certificate to your resume to demonstrate your skills & increase your chances of getting noticed.

Student Ratings & Reviews

No Review Yet

About Course

What Will You Learn?

Course Content

Introduction to Accounting

A Message from the Professor

Understanding Accounting

Key classes and terms in Accounting

Understanding Profit & Profit & Loss Statement

Understanding Owner’s Capital & Balance Sheet

Seperate Entity Concept

Liabilities and Owner’s Capital

Understanding Dual Impact of a Transaction

The Accounting Equation

Recording Income, Expenses, Assets, Liabilites, & Owner’s Capital

Recording in Accounting

Recording Debit and Credit for Assets – Practice

Debit and Credit rules for Liabilities

Alternative way to understand and remember debitcredit rules

Double Entry AccountingBookkeeping with Debit & Credits

Debit & Credit Practice

Journal Entry

Practice Bookkeeping, Accounting, & Financial Statements Preparation

Introduction

Recording Journal Entries

Posting Entries to the Ledgers

From ledgers to the Trial Balance

Preparing Profit and Loss Statement

Preparing Balance Sheet

Further classification in Assets, liabilities, Income and Expenses

Understanding and classifing Assets

Classifing Assets based on their physical substance

Understanding and classifing Liabilities

The Formal Balance Sheet Format

Understanding and classifing Income

Understanding and classifing Expenses

The Formal Profit & Loss Statement Format

Back to Practice Session

Financial Statements

Closing ledgers for the month

Transferring balances to the next month ledgers

Homework End to End Accounting & Bookkeeping- November

Homework Answers

Bank Reconciliation

Understanding Reconciliation

Understanding Bank Statement

Bank Reconciliation Case 1 and Case 2

Bank Reconciliation Case 2 Part 2

Bank Reconciliation Part 3

Practice – Bank Reconciliation

Understanding Positive and Negative Balance terms

Credit Transactions Receivables Payables

Understanding Cash and Credit Transaction

Cash and Accrual Accounting

Cash and Accrual Accounting – Examples

Understanding Receivables and Payables

Understanding Trade and Other ReceivablesPayables

Accounting for Expenses and Payables

Introduction and recording Cash Expenses

Recording Credit Expenses

Recording CancellationReversal of Credit Expenses

Recording Payment to Payables

Recording Interest charged for late payment

Accounting for Trade Discount

Accounting for Cash Discount

Practice – End to end Bookkeeping

Closing entries for April

Key documents related to Expenses and Payables

Accounting for Income and Receivables

Introduction

Recording Cash Income and its Reversal

Recording Credit Income and reversal

Recording Cash Received from Receivables

Recording Cash Received from Receivables

Interest charged to Receivables for late payment

Accounting for Trade Discount

Accounting for Cash Discount

Accounting for Bad Debts

Understanding Doubtful Debts and Allowance for Doubtful Debts

Accounting for the Allowance for Doubtful Debts

Understanding Gross and Net Receivables