What websites offer free basic accounting lessons?


Quick Answer

AccountingCoach and Accountingverse are two websites that offer lessons on basic accounting topics free of charge, as of April 2015. Both resources provide information useful to people from a variety of backgrounds, such as accounting students, bookkeepers and individuals looking to start small businesses.

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Full Answer

The accounting lessons on AccountingCoach are divided into three categories: bookkeeping, financial and managerial. Examples of topics covered in the bookkeeping section include income statements, balance sheets, payroll accounting and bank reconciliation. The financial section includes lessons on topics such as financial ratios, stockholders' equity, non-profit accounting and cash flow statements. Some topics in the managerial section are standard costing, manufacturing overhead, improving profits and break-even points. Several topics are relevant to a variety of accounting goals and are included in more than one of these three categories.

Each accounting lesson on AccountingCoach includes a quiz visitors can take after reviewing the material to determine how well they understand the concepts presented. The lessons also include features such as crossword puzzles, word scrambles, and questions and answers to assist with practicing the material.

The free tutorials on Accountingverse are broken down into several chapters with the first chapter titled "Introduction to Accounting." This chapter covers topics such as the purpose of accounting and the types of businesses. Later chapters discuss more complex accounting topics, such as closing and reversing entries.

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