Bookkeeping

This is an IEAC Accredited Course to help you learn and understand Bookkeeping.

Bookkeeping Essentials: From First Entry to Financial Statements

Build a practical foundation in bookkeeping and gain the confidence to maintain accurate financial records for a business. This accredited course explains the bookkeeping process step by step, using clear examples and relatable case studies to connect accounting theory with real-world practice.

You will begin by exploring the purpose and importance of bookkeeping, essential terminology, financial information, and practical ways to make record keeping stress-free. You will then examine key accounting conventions, doctrines, standards, and the international standard-setting process.

As the course progresses, you will learn how financial information flows through a bookkeeping system, when transactions should be recorded, and how double-entry bookkeeping works. Topics include general ledgers, subsidiary ledgers, charts of accounts, balance sheets, income statements, profit and loss statements, drawings, trial balances, cash receipts and payments journals, and day books.

Practical case studies; including a hairdressing studio, freelancing business, chiropractic practice, gardening service, and building business will help you apply your knowledge to realistic situations.

By the end of the course, you will be able to:

• Explain the purpose and principles of bookkeeping
• Recognise and apply fundamental accounting conventions
• Record transactions using the double-entry system
• Work with journals, ledgers, and charts of accounts
• Prepare and interpret a trial balance
• Understand the records behind key financial statements
• Record cash receipts, payments, and owner drawings
• Identify the first steps involved in starting a bookkeeping business
• Understand how developments such as blockchain may influence bookkeeping
• Plan opportunities for continued learning and professional development

This course is ideal for aspiring bookkeepers, small-business owners, freelancers, administrative professionals, and anyone seeking an accessible introduction to bookkeeping. No previous accounting experience is required. Upon completion, there is a final assessment that can be undertaken at any time, day or night; and you will be awarded a coveted: IEAC Certificate, which will contain your name, including full course details.

COURSE STRUCTURE

LESSON 1: SCOPE & NATURE OF BOOKKEEPING
Introduction
What is bookkeeping?
Why is record keeping important in bookkeeping?
What are the books?
Terminology and the bookkeeper’s world
Financial information
Hints and tips for making bookkeeping stress free from day one
Case study: Sally’s hairdressing studio
Review what you have been learning

LESSON 2: ACCOUNTING NORMS
Accounting conventions
Business Entity Convention
Going Concern Convention
Accounting Period Convention
Monetary Entity Convention
Recognition of Law
Accounting Doctrines – consistency, relevance, materiality, verifiability
Accounting standards
International Standard Setting Process
Case study: A freelancing business

LESSON 3: THE BOOKKEEPING PROCESS
Understanding the flow of information in bookkeeping
How and when do you record transactions?
Case study: Carlo’s chiropractic

LESSON 4: DOUBLE ENTRY BOOKKEEPING
Ledgers
Opening up a general ledger
Ledger accounts and sub ledgers
General Ledger
Entries resulting from transactions
Recording transactions
Case study: A gardening services

LESSON 5: CHART OF ACCOUNTS – BALANCE AND INCOME STATEMENTS
About the chart of accounts
Case study: Rob the builder

LESSON 6: LEDGER ACCOUNTS -PROFIT AND LOSS STATEMENTS
Ledger accounts and double entry bookkeeping
Footing ledger accounts
The trial balance
Accounting for drawings
Case study: Jimmy loses everything

LESSON 7: CASH RECEIPTS AND PAYMENTS JOURNALS
Journals – Day books
Journals appropriate for a Service Business
Recording cash transactions in journals
Case study

LESSON 8: WHAT COMES NEXT?
Starting a Bookkeeping Business
Considering blockchain
Where to keep learning and developing skills

Final assessment

HOW OUR COURSES WORK:

•    Enrol any time of day or night.
•    Start studying immediately or later (as you wish).
•    Upon enrolment, you will receive an email containing your “Username” and “Password”
•    Help desk – Contact us via email: info@homestudy.co.uk or call: + 44 (0) 1227 789 649
•    There are automated self-assessment tests at the end of each lesson.
•    At the end of the whole course, you are presented with an automated examination.
•    Gain a 60% pass and receive an: IEAC (International Education Accreditation Council) Certificate.