Financial Accounting Course

Financial Accounting is a step-by-step course that takes you from the first journal entry to the final accounts: debit and credit, the journal, the ledger, the trial balance and the balance sheet.
45 clear lessons with worked examples, ledger drawings and 107 practice questions with answers.

This is a study app, not bookkeeping software. It teaches how financial accounting works in plain language, and it explains both ways of learning debit and credit: the traditional golden rules of accounting (personal, real and nominal accounts) and the modern accounting-equation rules (DEAD CLIC), showing why both always give the same journal entry.

What you will learn

Accounting Basics
• Key terms: capital, drawings, debtors, creditors
• Basic accounting concepts (business entity, money measurement, going concern, matching) and conventions (accrual, consistency, prudence, materiality)
• The accounting cycle

The Accounting Equation
• Assets = liabilities + capital, transaction analysis tables and the expanded equation

Debit and Credit Rules
• Double entry and T-accounts
• Personal, real and nominal accounts
• The golden rules of debit and credit, the modern rules, and the two compared

The Journal
• Source documents and vouchers
• Journal entries: a worked month, compound and opening entries

Ledger and Trial Balance
• The ledger and posting, balancing an account
• The trial balance, errors, the suspense account and rectification of errors

Cash Book and Bank
• Two- and three-column cash book, trade and cash discounts
• Bank reconciliation statement with a worked example

Subsidiary Books
• Purchases and sales books, returns books with debit and credit notes, petty cash book

Depreciation and Adjustments
• Straight-line and reducing balance depreciation with worked tables
• Bad debts and provision for doubtful debts
• Outstanding and prepaid expenses, accrued and unearned income
• Inventory valuation: FIFO and weighted average

Final Accounts
• Final accounts of a sole trader: trading account, profit and loss account and balance sheet
• A full example with trial balance and adjustments, and its solution

Ratios and Glossary
• Gross and net profit margin, ROCE, current and quick ratios, inventory turnover, debtor days
• Glossary of 63 key terms with a quick filter

One small shop is followed from its first journal entry through the ledger and the trial balance to its final accounts, so you can see how every step of financial accounting connects.

Features
• 45 lessons in 10 sections, with accounting tables laid out for phone screens
• 17 diagrams, such as T-accounts, ledger balancing and the accounting cycle
• 107 practice questions with answers you tap to reveal
• Search across all lessons
• Dark mode
• Works offline, with no account needed
• Available in 8 languages: English, Español, Português, Français, Deutsch, العربية, हिन्दी and Bahasa Indonesia

Who it is for
• School, college and university students taking a first course in financial accounting or accountancy
• Commerce students: useful when revising Class 11 Accountancy, as many lessons follow NCERT Financial Accounting Part I
• Beginners who want to learn bookkeeping, journal entries and final accounts

Lessons cite their sources, including NCERT Financial Accounting Part I (Class XI), OpenStax Principles of Accounting Volume 1, Frank Wood's Business Accounting 1 and the IFRS standards (IAS 1, IAS 2, IAS 16). The wording is IFRS-neutral, with notes where local practice differs (for example LIFO under US GAAP).

Financial Accounting is an independent study aid. It is not affiliated with any exam board, university or standard-setting body, and it does not replace your textbook or professional advice.

Recent changes:
Completely rewritten: a financial accounting course in 45 lessons, from the accounting equation, golden rules and modern debit/credit rules to journal, ledger, trial balance, cash book, bank reconciliation, depreciation, adjustments and final accounts, with worked examples and practice questions. Now in 8 languages: English, Spanish, Portuguese, French, German, Arabic, Hindi and Indonesian.