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Start Here: Your Step-by-Step Path to Learning Accounting
Follow nine short steps in order. For each one: read the lesson, download the PDF notes, then practise what you learned.
Begin Step 1Browse all topicsHow to learn here
Every topic follows the same simple loop, because people learn accounting by doing, not just reading.
1. Learn
Read the lesson. Download the PDF notes so you can revise offline.
2. Practise
Work through the problems and solutions. Try them yourself before you look at the answer.
3. Test yourself
Take a quiz at the end of each level. Anything you miss tells you what to revisit.
Foundations: understand how accounting thinks
Steps 1 to 3. Start here if you have never studied accounting.
What is accounting?
You will be able to: explain what accounting is, who uses it and why it matters.
Transactions
You will be able to: tell a business transaction from an ordinary event, and classify it.
The rules of the game
You will be able to: apply the accounting equation, debit and credit rules, and double entry.
Recording: put transactions into the books
Steps 4 to 6. Do these once the debit and credit rules feel natural.
Journal and ledger
You will be able to: record transactions in the journal and post them to ledger accounts.
Cash book and bank
You will be able to: keep a cash book and reconcile it with a bank statement.
The trial balance
You will be able to: prepare a trial balance and find and fix common errors.
Reporting: close the books and read the results
Steps 7 to 9. Bring it all together into financial statements and the principles behind them.
Adjust and close the books
You will be able to: make adjusting and closing entries and follow the full accounting cycle.
Financial statements
You will be able to: read and prepare the income statement and balance sheet.
Principles and standards
You will be able to: explain the principles, concepts and conventions behind GAAP.
Keep your momentum going
Tools for every stage of your learning.