Accounting fundamentals, start here.
Learn the building blocks of accounting, from basic concepts and the accounting equation to the golden rules, debit and credit rules, and the accounting cycle.
Course overview
Accounting is the process of recording, classifying, and summarising a business's financial transactions so that people can understand its performance and position. This course covers the basic ideas every other accounting topic builds on.
- Understand what accounting is, its purpose, and who uses accounting information
- Learn the basic accounting concepts and principles
- Use the accounting equation to see how assets, liabilities, and capital relate
- Identify the types of accounts, and apply the golden rules
- Apply debit and credit rules to record transactions
- Understand the steps of the basic accounting cycle
- See how transactions flow into the final accounts
- Build a base for journals, ledgers, and financial statements
Accounting Fundamentals lessons
Follow the lessons in order, or search and filter to jump to a subject.
Introduction to Accounting
Learn what accounting is, its purpose, and who uses it.
Accounting Concepts and Principles
Understand the basic assumptions and rules behind accounting.
Accounting Equation
See how assets, liabilities, and capital stay in balance.
Types of Accounts and Golden Rules
Classify accounts and learn the golden rules of accounting.
Debit and Credit Rules
Know when to debit and when to credit an account.
Basic Accounting Cycle
Follow the steps from recording a transaction to the final accounts.
Learn the basics, then build on them.
The lessons start with what accounting is and its principles, then cover the accounting equation and the debit and credit rules, and finish with the accounting cycle.