Learning the basics of accounting is easier than you think with our list of the best free online accounting courses. As a crucial operations process necessary for the success of both large and small businesses, accounting is a solid skill to learn. Most large companies have their own accounting departments with several employees working on various tasks, while smaller businesses may do all the accounting themselves or hire a bookkeeper. Whether you are trying to learn how to keep meticulous financial records as a freelancer or small business owner or you are interested in finding a position as a bookkeeper, we have something here for you.
Featured Programs
- Imperial College London Accounting Essentials
- Indiana University Managerial Accounting and Corporate Control
- Financial Accounting Made Fun: Eliminating Your Fears
Disclaimer: Some courses may include an affiliate link. Courses were chosen first based on the methodology with affiliate links only added after the ranking was complete.
In curating this list of the top free online courses for accounting, we had to narrow down a lot of choices, but through our exclusive methodology, we’ve come up with a solid group of offerings. Listed in descending order with the best options at the top of the list, the following free accounting courses are worth looking into.
Ranking 15 Free Online Courses for Accounting
1. Introduction to Bookkeeping and Accounting
Offered by Open Learn
This free introductory accounting course from Open University is eight hours long and comes with a complimentary statement of participation upon completion. In it, students will learn:
• How to apply the essential skills required for accounting and bookkeeping
• To explain the relationship between double-entry bookkeeping and the accounting equation
• How to use the double-entry bookkeeping system to record transactions in the appropriate ledger accounts.
• How to balance off ledger accounts at the end of an accounting period
• How to prepare a balance sheet, trial balance, and profit and loss account
Open Learn is a well-reviewed learning platform that offers over 900 free courses that can be downloaded in over ten formats. Students can track their progress through their profile as they complete each module, and the engaging quizzes and activities will help solidify the material presented.
Cost: Free
Certificate: Yes
Time to Complete: Eight hours
Curriculum: Introductory
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
•Thorough and detailed, with quizzes to test your progress
•Excellent user interface
•An excellent starting point for those who want to learn basic accounting skills
Cons:
•None
2. Financial Accounting and Reporting
Offered by Open Learn
The Financial Accounting and Reporting course from Open Learn introduces students to the role accountants play as purveyors of information for decision making. It looks at the needs of those who use that information and how important it is for accountants to be aware of conceptual and regulatory frameworks.
The free online accounting course discusses the differences between managerial and financial accounting and identifies the primary financial statements and the purpose of each one. It also covers the most critical elements of financial accounting information like assets, liabilities, revenue, and expenses.
Students can track their progress on their Open Learn profile as they progress through each module. Upon completion, a statement of participation will be issued.
Cost: Free
Certificate: Yes
Time to Complete: Twelve hours
Curriculum: Intermediate
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Quizzes to test your progress
• Great User Experience
• Detailed information
Cons:
•Not many reviews
3. Accounting Fundamentals Course
Offered by Corporate Finance Institute (CFI)
The Corporate Finance Institute provides online valuation and financial modeling courses that use the skills of intuition, theory, and application to help students learn in virtual classes that can be taken anytime and anywhere.
The Accounting Fundamentals Course is part of the FMVA Financial Analyst Certification path and one of 18 classes needed to apply for certification. However, the course can be taken independently of the others at no cost. In it, students will learn how to construct a balance sheet, an income statement, and a cash flow statement. Upon completion, there is a course assessment to complete.
Cost: Free
Certificate: No
Time to Complete: 2.5 hours
Curriculum: Introductory
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Ideal way to learn about constructing accounting sheets at no charge
• Great user platform
• A free graded assessment to see what skills you have learned
Cons:
• Part of a certification that is hidden behind a paid component
4. How to Read Financial Statements
Offered by Corporate Finance Institute (CFI)
The Corporate Finance Institute’s second free offering—How to Read Financial Statements— is an ideal course for anyone in business. It’s highly interactive, with lots of practical exercises, case studies, and pop quizzes. Students will learn how to find their way around financial statements with the included reference guides, accounting factsheet, and a glossary—all of which can be downloaded for future reference.
The free online accounting course is part of a certification path to FMVA Financial Analyst Certification and can be taken at your own leisure.
Cost: Free
Certificate: No
Time to Complete: 1.5 hours
Curriculum: Beginner
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Taught by industry expert Scott Powell
• Excellent user interface
• Lifetime access
Cons:
• Too short
5. Accounting – Core Practices and Theory
Offered by Alison
Founded in 2007 by Mike Feerick, Alison was the first (MOOC) massive online open course platform online. The site has around six million registered users and offers some of the best online accounting classes you will find.
The Diploma in Accounting – Core Practices and Theory will not earn you an actual diploma. However, you will get a free Learner Achievement Verification and the option to purchase a shareable completion certificate for around $20. A final grade of 80 percent or better is needed to pass, but you can take the exam as many times as you want.
The course consists of three assessments as well as five modules including:
• Accounting and its Use in Business Decisions
• Recording Business Transactions
• Adjustments for Financial Accounting
• Completing the Accounting Cycle
• Accounting Theory
Cost: Free
Certificate: Yes, with a fee
Time to Complete: 10-15 hours
Curriculum: Beginner
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Industry-recognized leader in online learning
• Excellent user interface
• Video tutorials and course assessments
Cons:
• Students wishing to obtain a certificate will need to purchase it in the online store
6. Professional Bookkeeping and Accounting 1
Offered by Alison
Alison’s MOOC platform allows students to take professional courses in an array of subjects. This Professional Bookkeeping and Accounting Course will give you the knowledge you need to record sales and purchase transactions in your daybooks. But there is more to this course than that. It’s fairly comprehensive, covering subjects like:
• Introduction to record-keeping and the accounting equation
• Sales tax
• Sales and sales invoicing
• Purchases
Upon completion, you will go through a course assessment where you will need a passing score of at least 80 percent, after which you will be eligible to purchase a completion certificate in the Alison Store. However, a certificate is optional, and you will also receive a Learner Achievement Verification at no cost.
Cost: Free
Certificate: Yes, with a fee
Time to Complete: 2-3 hours
Curriculum: Beginner
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Taught by Paula Guilfoye of the Excel Club
• Excellent user experience
• Video tutorials and a final course exam
Cons:
• Students wishing to obtain a certificate will need to purchase it in the online store
7.Introduction to Financial and Managerial Accounting
Offered by MIT
This undergraduate-level accounting course is offered through MIT Open Courseware and is the same course taught on campus, with one exception: You will never have to spend a dime to take it. While you won’t receive any certification, knowing that you are taking courses at one of the world’s leading universities should be motivation enough.
The syllabus is comprehensive, so we won’t list it in its entirety. Instead, here are a few of the topics covered in the free online course in accounting:
• The Income Statement and Principles of Accrual Accounting
• Revenue Recognition
• Long-term Assets/Depreciation
• Marketable Securities
• Leases and Off-Balance Sheet Financing
• Intangibles and Business Combinations
• Current Liabilities and Contingencies
Cost: Free
Certificate: No
Time to Complete: 50 hours
Curriculum: Intermediate
User Experience: Good
Quality of Instruction: Excellent
Pros:
• Learn through one of the most well-known Universities in the world at no cost
• Taught by professors at the Sloan School of Management.
• Thorough and comprehensive at 40 hours long
Cons:
• Certificates and grading not offered
8. Accounting Essentials
Offered by the Imperial College of London through edX
Offered through edX and the Imperial College of London, this accounting essentials course will introduce you to the management and financial accounting skills you need, whether you are working on an MBA or running your own business. Perfect for beginners, the course is designed for those that have no prior knowledge of accounting.
During the free online accounting six-week course, you will learn:
• How to create and interpret the income statement, balance sheet, and cash flow statement
• The differences between financial accounting and management accounting
• How financial information is used in business and on an MBA program to make decisions
Students can opt for the paid version, which gives them an instructor-signed shareable certificate from the Imperial College of London, but it’s not required. The course can be taken in the audit version at no cost.
Cost: Free
Certificate: Yes, with a fee
Time to Complete: Six weeks
Curriculum: Introductory
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Taught by Senior Teaching Fellow Jeremy Fernando
• Optional shareable certificate can be purchased for $79
• Perfect for those who need an introductory accounting course
Cons:
• You will need to pay to obtain a shareable certificate
9. Managerial Accounting and Corporate Control
Offered by Indiana University through edX
In this 12-week advanced course, students will learn how management uses accounting data to make complex business decisions and how to prepare and analyze this vital information. The free online course in accounting is thorough and detailed and is part of the micro master’s program if you wish to pursue further education.
During the course, you will learn:
• Basic accounting terminology and internal measurement systems
• How to analyze Costs, prepare budgets, and apply economic framework
• The theoretical framework of accounting and its accompanying interdisciplinary links.
Students can opt for the paid version, which gives them an instructor-signed shareable certificate from Indiana University. However, it is not necessary to complete the course. It can be taken in audit mode at no cost.
The course is intended for students who have already completed a bachelor’s degree or who have junior or senior standing at a university or college. This is one of the only free online accredited courses on our list that allows students to obtain college credits toward their master’s degree at a fraction of the cost.
Cost: Free
Certificate: Yes, with a fee
Time to Complete: Twelve weeks
Curriculum: Advanced
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Taught by Associate Professor of Accounting Brian Miller
• Receive credit if you are eligible
• Part of the micro master’s program in accounting
Cons:
• Verified learners will need to purchase a textbook
10. Financial Accounting Made Fun: Eliminating Your Fears
Offered by Babson University through edX
In this four-week edX course, you will gain a solid understanding of statements, financial terms, and metrics to help you make decisions about operations and business performance. The free online accounting course uses a series of scenarios to take you through the process of creating a simple business so you can get comfortable with fundamental accounting tools and concepts.
The course is part of the edX Business Principles and Entrepreneurial Thought XSeries and is designed to be a fun and engaging way to learn the basics.
Cost: Free
Certificate: Yes, with a fee
Time to Complete: 15 hours
Curriculum: Beginner
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Taught by Professor of Accounting and Law Division Peter Wilson
• Easy to understand
• Perfect for beginners
Cons:
• You will need to pay to obtain a shareable certificate or earn credit
• Some assignments may not be available in the audit-only mode.
11. Accounting and Finance for Entrepreneurs
Offered by Learn@Forbes
If you thought Forbes was just a glossy finance magazine, think again. The company has its own impressive learning platform offering a wide range of courses. In Accounting and Finance for Entrepreneurs, students will learn about:
• Generally Accepted Accounting Principles (GAAP)
• Core financial operations such as payables, receivables, and balancing accounts
• Core financial analysis and decision making including ROI, payback period, and break-even
• Preparing the primary financial statements tax authorities, lenders, and investors need to see
• The three major pricing strategies and how to optimize pricing
The course can be accessed free for 14 days with a trial to Learn@Forbes. It is five hours long, so if you want it to remain free, you will need to jump on it and start learning. After 14 days, you will be charged a monthly fee for membership
Upon completion, you will be eligible for a certificate that you can display on your website, CV, resume, or LinkedIn Profile
Cost: Free
Certificate: Yes, with a monthly membership
Time to Complete: Varies
Curriculum: Beginner to Intermediate
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Free subscription gives you unlimited access for 14 days
• Study at your own pace
• Excellent reputation
Cons:
• You can only receive certification behind the paywall
12. Introduction to Payroll Accounting
Offered by Learn@Forbes
In this brief one hour course, you will get an overview of payroll accounting and talk about credits, debits, liabilities, and assets as well as how to classify accounts and record journal entries for payroll transactions. You will also learn how payroll practices impact the cost of running an organization and create a handy guide for best practices.
The online accounting course can be accessed free for 14 days with a trial to Learn by Forbes. Upon completion, you will be eligible for a certificate that you can display on your website, CV, resume, or LinkedIn Profile
Cost: Free
Certificate: Yes, with a monthly membership
Time to Complete: One hour
Curriculum: Beginner to Intermediate
User Experience: Good
Quality of Instruction: Excellent
Pros:
• Taught by payroll professional Shirley Brickous
• Easy to understand
• Can be completed quickly
Cons:
• Much too short
13. Accounting Fundamentals: Understanding Financial Statements
Offered by Skill Share
This course is taught by Skill Share CEO Matt Cooper, who provides a refreshing perspective on the basics of accounting. There are 10 Short lessons in this 46-minute course, which is designed to help students learn the basics of business accounting. Whether you are a student going for your accounting degree or an entrepreneur who needs to keep the books balanced, Matt will cover the essentials for you.
Cost: Free
Certificate: No
Time to Complete: 46 minutes
Curriculum: Introductory
User Experience: Excellent
Quality of Instruction: Excellent
Pros:
• Learn from the CEO at Skillshare
• Easy sign-up
• Includes a project to create a real or mock financial spreadsheet from scratch
Cons:
• Too short
14. Introduction to Accounting Basics
Offered by Accounting Coach
The accounting coach website offers free courses in every aspect of accounting. Taught in a clear and step-by-step fashion, the platform will appeal to anyone who prefers learning by being thorough and meticulous. The lessons are presented in a read-only format, with practice quizzes and games at the complimentary level. To access more features such as flashcards, cheat sheets, and exams, users can upgrade to the paid version, which is optional.
The website offers an excellent user experience and a clean interface designed to help you master accounting concepts without distraction.
Cost: Free
Certificate: Yes, with a fee
Time to Complete: Varies
Curriculum: Beginner to Advanced
User Experience: Excellent
Quality of Instruction: Good
Pros:
• Over 1000 lessons
• Interactive
• Comprehensive resource
Cons:
• Completion certificate offered at the paid level only
15. Accounting for Creatives
Offered by Skillshare
Former CPA Michelle Cornish is a writer and an illustrator who will teach you the basics of keeping track of income and expenses for creative freelancers. Perfect for artist, writers, and musicians, the free online accounting course will inform users about:
• Tracking revenue to identify the most profitable products or services you offer
• Claiming eligible business expenses
• Common deductions most freelancers miss
• Saving tax with donations
• Accounting apps
If you don’t want to invest a lot of time, this may be the perfect choice for you. At just 19 minutes long, this mini-course is packed with fast-paced learning and can be completed in less time than it takes to make a batch of brownies.
Cost: Free for the first two months—$99 per year after that
Certificate: No
Time to Complete: 19 minutes
Curriculum: Introductory
User Experience: Fair
Quality of Instruction: Excellent
Pros:
• Short and sweet
• Will help freelancers get organized
• Video tutorials
Cons:
• Must cancel the subscription before the two-month trial period ends to avoid being charged a fee.
• Too basic for students looking for a more detailed course
Frequently Asked Questions About Free Accounting Courses
Why Should I Take Free Accounting Courses?
Learning accounting will give you knowledge and skills you can apply across a broad range of industries. With accountants always in demand, the occupation is nearly recession-proof, and as long as there is money in the world, there will always be the need for someone to create and analyze financial records.
Traditional coursework is expensive but filling in some of your learning gaps with free accounting courses can help. Free classes can prepare you for more in-depth college classes and, in some cases, may even earn you credit.
Who Should Take Free Accounting Courses?
Accounting is one of the more challenging courses of study, with rigorous academic requirements. If math and analytics come easy to you, accounting might be just your niche. Detail-oriented students who enjoy problem-solving and don’t mind analyzing lots of data might find this field to be ideal.
The world of numbers is stable and constant. Those who thrive on change and excitement will probably not enjoy accounting. However, those that are most comfortable with predictable routines may find accounting to be a great option.
If you are considering a career in accounting, taking some free classes before investing in more costly college courses can help you decide if this is the field for you. If you are an entrepreneur or small business owner, you may benefit financially from learning more about accounting principles or software. And if you are already in the industry, taking some free courses can help you brush up on your skills and improve your prospects of being hired.
What Are the Requirements and Prerequisites?
Free online accounting courses are typically open to anyone. However, If you want to succeed, you should at least have solid math and keyboard skills.
Will I Earn College Credits by Taking an MOOC?
Most free accounting courses do not offer college credits, but here are exceptions. Some of the courses on our list may be part of a broader accounting specialization where users can earn credit for their work. When in doubt, you should check the course materials.
How Long Do Free Online Courses Take?
Most free online courses in accounting are self-paced, so the completion time is flexible. There is usually an estimated duration listed, but many students find it works best to undertake the lessons when they fit into other aspects of their lives. Most classes on our list take between a few hours to a few months.
Are Free Online Courses Graded?
Typically not. However, some components of a class, such as final exams or capstone projects, may have a graded component behind a paywall. Quizzes are sometimes auto-graded through the learning platform so you can test your knowledge of a particular skill. Occasionally, free classes that offer a certificate at no cost will also have an auto-graded test you will need to pass to earn your certification.
Are There Specific Start Times and Deadlines for Free Online Classes?
One of the best things about free online courses is that they are flexible, so although some may have scheduled start times, most will allow you to progress at your own pace. If an assignment does have a deadline, it is typically a “suggested” time for completion to help keep you on track. Most often you can take free courses wherever and whenever you would like.
If These Courses are Free Why Does It Look Like There Is a Fee Involved?
You will sometimes come across classes that offer graded components that can only be accessed by signing up for a free trial or membership. This is called a paywall. Most often, certificates of completion will be behind this paywall. If you opt to obtain a certificate, you will want to sign up as a paid member of the platform.
However, each of the courses we have listed can be accessed for free by taking them in audit mode. This means you can look at all the course materials at no charge; you simply won’t be graded. It’s worth noting that the first few classes on each of our lists typically offer some type of verification of completion for free, which is why they are rated higher than others.
If you need a certificate of completion, but you can’t afford one, some sites offer financial aid or scholarships.
Are Free Online Accounting Courses Worth It?
Taking free online courses is definitely worth your time. Not only will you obtain some new skills but taking the classes can help you determine whether a job in the accounting industry is right for you. Whether you want to improve your current skill set, obtain an entry-level position as a bookkeeper, or you want to get a better handle on the finances of your business, there has never been a better time to take free accounting classes.
OCR Staff
March 2020
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