Introduction to bookkeeping and accounting

by The Open University

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.

Genres: Bookkeeping, Reference

150 pages, Kindle Edition

First published September 16, 2015

Reviews

[Cidney · Rating 4 out of 5]

This was a good book from the Open University, the problem lies with me! I find it a struggle to use a calculator, mental maths is more my thing, and I wasn't able to access the answers when I had completed the exercises, perhaps this needed to be done on a laptop.

[Mars Cannon · Rating 3 out of 5]

Summary: "Introduction to bookkeeping and accounting" starts off by discussing the arithmetic skills required to be successful. It then explains how to keep accounting records and goes over some basic terminology like what is capital, for instance. The difference between profiting and producing cash is also discussed.

Pro: Readers with no prior knowledge of accounting will learn some new terms and how to get started balancing accounts. Plenty of examples are given to help the reader learn the material. It's easy to finish reading this book since there are very few pages.

Con: I think the author wasted valuable time on numerical skills. I didn't get anything out of the first chapter, personally. Some readers may want to skip this section. Also, some individuals may not consider this as an actual book given it is so short.

What I learned: I learned about the expanded accounting equation. The expanded version being (Assets - Liabilities = Capital + (Income - Expenses)).

[Braga · Rating 4 out of 5]

Promises what the title claims.. The introduction to book keeping and accounting. Having started a company, having lack of knowledge on finance affairs will be one of the worst mistakes to commit. Book keeping and account basics are a must to keep track of where and how the money flows. This book neatly explains the basics of just that. This is just the kinder garden though, but hey, you need to start somewhere!

[Kirsten Lost 2022 · Rating 4 out of 5]

This book is adapted from the Open University course 'B190_1 Introduction to bookkeeping and accounting'. It's very useful in introducing basic accounting concepts! You'll be able to put double-entry bookkeeping on your CV!