BUS 230 Principles of Accounting

Free Accounting Course

Discover the fundamentals of financial accounting in this free Financial Liberty course. Learn how to analyze financial data, understand key accounting principles, and interpret financial statements. This course explores the accounting cycle, GAAP standards, and the role of financial reporting in assessing an entity's economic health. With insights grounded in biblical wisdom, you'll gain practical skills to manage finances effectively and become a faithful steward. Whether for personal growth, ministry, or business, this course equips you with essential tools to make informed financial decisions.

Course Overview:

This course is an introduction to financial accounting concepts and financial reporting, with the focus being on how decision makers analyze, interpret, and use accounting information. Emphasis is given to how accounting measures, records, and reports economic activities for corporations and on the relationship between accrual and cash flow measures in interpreting accounting information. This course teaches how to understand the financial health of an entity. An entity can be an individual, a partnership, a corporation or a business. Accounting uses a specific language and specific rules. FASB (Financial Accounting Standards Board) a non-profit organization, governs the world of accounting. Their main purpose is to create and maintain a specific set of principles called GAAP ( Generally Accepted Accounting Principles). The Bible is the ultimate financial guide. It speaks more about money than any other subject. Proverbs 22:7: "The rich rules over the poor, and the borrower is a servant to the lender". Accounting, if applied correctly, will help keep one from being a servant to money. 1 Corinthians 4:2 states -- Moreover it is required in stewards that one be found faithful. The study of Accounting will aid in an entity becoming a faithful servant.

Meet Your Professor:

Emily Baskin - Professor of Introduction to Information Systems

You will Learn and Grow in the Following Topics:

Apply the fundamental concepts and assumptions that underlie financial accounting principles
Demonstrate an understanding of the steps of the accounting cycle and of the basic elements of the four financial statements
Identify, record, and report transactions in accordance with Generally Accepted Accounting Principles

What Other Students Are Saying....

“This course has given me a deeper understanding of financial management and accounting principles, which is essential for managing the finances of any ministry or non-profit organization. Learning about budgeting, financial statements, and tracking assets and liabilities will help me ensure transparency, stewardship, and responsible financial practices in my ministry. I particularly appreciated the practical nature of the course content, especially the focus on how accounting principles apply in real-world situations, including non-profit and church settings. The quizzes were a great way to test my understanding, and the course was structured in a way that made complex topics easier to grasp.”

“This is the first time taking an accounting related course in my life. It was incredible and humble experience since I always thought that accounting was the same as bookkeeping. Little I knew about financial accounting concepts, financial reporting, and the way accountants analyze, interpret, measure, record, and report economic activities for employers and organizations. There were also several things that I learned in this course that will assist me grow in my ministry calling. First, learning about the relationship between cash flow and accrual measures in the way to interpret accounting information in order to understand the financial health of an organization/entity was foundational in my learning development of this course. It is also amazing learning about the steps of the accounting cycle and of the basic elements of all the different types of financial statement. Being able to identify, record, and report transactions based on accounting principles is considered necessary for a bi-vocational minister to ensure our finances are accounted for in such a way that all we do is to be used in God’s kingdom since all belongs to the Lord including our business strategies and implementation with accounting principles.”

“In this class, I learned foundational accounting principles that are essential for effective financial stewardship in ministry. Understanding how to create and manage budgets will enable me to allocate resources efficiently, ensuring that funds are used effectively for outreach and community support. Additionally, knowledge of financial reporting will help me communicate transparently with stakeholders and church members about financial health, fostering trust and accountability. I appreciated the practical application of accounting concepts. The course provided real-world examples that illustrated how accounting principles are used in various organizational contexts, including non-profits and churches. I also enjoyed the collaborative projects, which allowed for discussion and deeper understanding of complex topics. The instructor’s approachability and willingness to clarify doubts contributed significantly to my learning experience.”

Number of Students Who Have Completed This Course

Join over 900,000 enrolled CLI students online and take the next step in your spiritual formation.

Master Financial Stewardship with Our Free Accounting Course

Are you ready to gain essential financial skills? Our free accounting course is designed to help you understand and apply key accounting principles for both personal and organizational success.

In this free accounting course, you will:

Learn the basics of financial accounting concepts
Understand how to analyze, interpret, and use financial reports
Explore the accounting cycle and its role in tracking transactions
Gain insights into GAAP (Generally Accepted Accounting Principles)
Discover how accounting can help individuals, businesses, and ministries manage money effectively

This free accounting course also highlights how biblical principles guide financial stewardship, helping you become a faithful manager of resources. Whether you’re looking to improve your personal finances, support your church or ministry, or enhance your business skills, this course offers practical knowledge to help you thrive.

Start learning today with our free accounting course and build a strong foundation for financial freedom!