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Introduction to Balance Sheets - Revised

Learn more about balance sheets and how they are used for personal finances.

Accounting
Free Course
This free online Introduction to Balance Sheets course will show you how you can use your balance sheets to make important financial decisions. You will also learn about different loan types and how the loan process works. This course is designed to give anyone a basic understanding of balance sheets and personal finances. Introduce yourself to the basics of balance sheets and make smarter financial decisions today with this free online course.
  • Duration

    1-2 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Responsive

    Yes
  • Publisher

    Khan Academy

Description

Modules

Outcome

Certification

View course modules

Description

This course, Introduction to Balance Sheets will introduce you to the basics of what a balance sheet is, its purpose and how to do a balance sheet.

The balance sheet is a basic accounting concept used to calculate how much cash, assets and liabilities are in our accounts at the end of the day. It is a very useful tool for both personal finances as well as business accounts. Knowing how to work through a basic balance sheet is an essential skill that everybody should know how to do and balance sheets are an excellent way to put your personal finances into perspective on paper.

In this free online course, the basics of balance sheets are discussed with particular regards to the case study of buying a house versus renting a house, and topics such as assets, liabilities, equity and marking to market are reviewed.

This free online course will be of interest to the average lay person wishing to learn about balance sheets and how they can use balance sheets to organise their finances when deciding to invest in property or take out a loan for whatever reason.

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Learning Outcomes

Having completed this course, you will be able to:


  • Understand the basic accounting concept of balance sheets
  • Examine personal finances using balance sheets
  • Evaluate the pros and cons of personal debt when considering a loan
  • Approach balance sheets with a better understanding of how they function
  • Discuss the differences between buying and renting
  • Explain what collateral is
  • Perform a detailed analysis of the decision between buying and renting
  • Understand what a Home Equity Loan is
  • Explain why banks ask for a downpayment of between 20 and 25%

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire official Certification, which is a great way to share your achievement with the world. Your Alison Certification is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certification pricing, please visit our Pricing Page.

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