Introduction to Accounting

Produced by Moja Academy, this self-paced course will explain and illustrate foundational accounting concepts and terminology.

Course Overview 

Did you know that about fifty percent of small businesses fail in the first four years?

Accounting skills are essential when starting and operating a new business, so it is important that you understand basic accounting concepts and terminology to ensure you do not fall in that fifty percentile. This course introduces key concepts and principles for accounting and provides an overview of the different types of financial statements available for entrepreneurs to make good business decisions.

In lesson one, we will define accounting and describe basic accounting concepts such as the importance of accounting, the uses and users of accounting, as well as types of accounting.

Next, in lesson two, we will explain the basics of bookkeeping, the importance of keeping accurate books, the accounting life cycle, and the types of bookkeeping systems available.

In lesson three, we will describe the differences between income and expenses.

Then for lessons four, five, and six, we will define and describe the components for the balance sheet, the income statement, and the cash flow statement.

Finally, in lesson seven, we will explain the importance of hiring a professional and provide tips for finding the right accounting software.

Course Objectives 

This course has four main objectives. Upon completion of this course, you should be able to describe basic accounting concepts, identify the important bookkeeping principles, differentiate between the three main types of financial statements, and explain the importance of finding the right accounting resources for your business.

You can quickly navigate to any of these lessons by selecting the lesson title to jump to the desired lesson.