Accounting is the practical application of tracking, reporting, auditing, and analyzing financial records. The process of accounting involves computing financial information for the purpose of understanding the financial position of a business or corporation. Accounting is generally divided into three subdisciplines: financial accounting, bookkeeping, and auditing. Financial accounting is concerned with preparing financial statements and reports to summarize the monetary condition of a business entity or corporation. These reports benefit outside individuals, such as stockholders, who have financial interest in the corporation. Bookkeeping involves recording all daily financial transactions and monetary activities within a business or organization, such as purchases, sales, and payments. Auditing is the process of carefully evaluating and verifying accounting records for accuracy, usually for tax purposes. Although you may find college accounting programs that focus on a particular area of accounting, the general theory behind all accounting subdisciplines involves analyzing numbers.
The Association to Advance Collegiate Schools of Business (AACSB) is an internationally recognized agency that accredits both business and accounting programs in almost 50 countries. If you are considering enrolling in a traditional or online accounting course of study, you should ensure that it is accredited by the AACSB. By choosing AACSB-accredited accounting courses, you can be sure that you will receive a top-notch education taught by highly qualified professionals with advanced experience in the industry. Accredited online accounting courses will provide you with a foundational understanding of the theories and practical application of accounting procedures. Because the study of accounting involves processing and analyzing numbers, online courses may be ideal if you are an independent learner. However, if you struggle with advanced mathematical computations and seek classroom interaction, a traditional courses may better suit you.
Online courses in accounting are a strong choice if you want to learn about computerized accounting, payroll accounting, invoicing, and the principles of finance. By taking these online courses, you can learn how to answer questions like:
Before enrolling in an online accounting class, you should take the time to research which institutions are AACSB accredited. It is also important to make sure that your instructor holds a Ph.D in accounting or other closely related field and has work experience in the industry. Additionally, it may be wise to research reviews of other students who have already taken a particular course to determine if it would be a good fit.
Below is an organized directory of open courseware in accounting you may find helpful. This courseware is a collection of video lectures, exams, and entire accounting courses from notable colleges and universities around the world. Although these materials and courses are free and may not offer all the amenities of a credit course, they provide insight into what university accounting courses are like.