Where to Find the Best Free Online Accounting Courses
One of the most incredible things about living in a digital world is that you can learn just about anything you want for free, including accounting. From YouTube videos to online college courses- a wealth of knowledge is at your fingerprints. If accounting is your jam, below are some of the best free online accounting courses.
First Thing First
Before we jump into the courses, though, there is something important to point out. Most free courses do not provide certificates or meet standard requirements. Before diving into free classes, get clear on the following two things:
What is Your Purpose?
Why do you want to take an accounting class? Do you want to become a certified accountant? Do you just need some extra instruction for a course you are taking? Are you opening a business and want to handle your own books? Or do you wish to learn something new?
Additionally, there are several accounting variations, such as corporate, small business, nonprofit, and more. Being clear on what exactly you want this education for helps you answer the next question.
What are the Requirements?
Considering your purpose for taking the course, what are the precise requirements you need to meet? If you are doing this for your personal edification or for help understanding a course you are taking, the only requirement is that it helps you learn.
If you are hoping to become a certified accountant or prepare taxes, on the other hand, there are specific requirements you’ll need to meet. Determine what these requirements are so that you can ensure the course you choose meets those requirements.
Keep in mind that if you are unable to find a free online accounting course to meet your needs, you don’t have to put your dream to the side. Most places that offer paid courses also provide financial aid or payment plans. So even if you need a paid course, there is a good chance you can get it for free if your income meets specific requirements.
I want to point out that many free online accounting courses offer the option to pay a fee for your certificate, and it’s usually pretty reasonable. However, remember that you need to make sure the course fits your requirements or you will just be wasting your money anyway.
Now that we have the basics handled, we’re going to jump into potential courses.
Coursera
Coursera is a useful website that offers courses on a wide range of topics. It’s one I have personal experience with, so I can say for sure it is excellent. All the courses are taught by professors at credible schools, like the University of Florida, University of Pennsylvania, Yale, and much more.
There are two primary choices on Coursera: you can audit classes or pay for them. Auditing is free. You get to access videos, lessons, and so on. However, you typically do not get feedback on any work, get a grade, or get credit. It is an excellent option for those just wanting to learn.
Paid courses are just what they sound like. Most paid courses are anywhere from $39 to $79 per month, which is pretty affordable. They also have a financial aid program through which I was able to gain my Personal & Family Financial Planning certification at no personal cost.
Most of the paid courses can also be audited. However, there are a few specializations that are only available for a price. It really comes down to what particular class you want to take, but you can audit numerous accounting courses on Coursera.
Udemy
Udemy is similar to Coursera in that there are many classes you can take for free. Some courses cover everything from an introduction to accounting to more specialized lessons. You can access the video content through free classes, so it is another excellent way to learn for personal benefit.
However, if you need a certificate, you’ll have to take a paid course. These can be as low as $10 to over $100, but there are often sales on the website. Like Coursera, it comes down to what exactly you need.
MIT
MIT has several free courses on OpenCourseWare for accounting and many other topics. These are strictly for personal learning, though. There is no way to earn a certificate- even for a fee- and they do not give credit for taking the courses.
Still, it’s hard to go wrong learning from a school like MIT. Even if you only use it to better understand a class you are taking or set up a business, this is a great place to start.
Harvard University
If you are involved with a nonprofit organization, Harvard has a great free course. It teaches the basics of nonprofit accounting concepts and typical financial statements.
Stanford University
Stanford University provides a free course called “Legal and Accounting Basics” on iTunes. It is one class of a 43 part series titled “How to Start a Startup.” It is entirely free, but it does not provide any certificates or credit. The course is basically a very comprehensive guide for those who wish to start a company.
edX
edX is similar to Udemy and Coursera. It includes corporate finance accounting courses taught by Columbia, MIT, University of Maryland, and more. Most of their courses cost a fee, but they do have quite a few that you can take for free. However, you do have to pay if you want a certificate for completing those courses.
Saylor Academy
Saylor Academy is a nonprofit organization that provides several accounting classes for free as well as many others. One major thing sets it apart from most of the other best free online accounting courses on our list. It’s completely free- not just the class but the certificate, too.
Open Learn
Open Learn is another great option on our best free online accounting courses list that’s actually free. You can choose from several courses on the website dealing with accounting, business finances, and personal finances. Each free course also comes with a free certificate of completion.
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Bean Counting 101
If you need something that gives you an introduction to accounting in straightforward language, Bean Counting 101 is the way to go. It is five lessons of beginner-friendly, multimedia content that can give anyone a good foundation on the topic. Whether you want personal knowledge or you are about to jump into an intensive degree program, Bean Counting 101 is a great place to start.
Accounting Coach
Accounting Coach is a website full of accounting topics taught by a CPA. The courses are free, but getting a Pro or Pro Plus membership brings you more learning tools, such as visual tutorials, tests with coaching, certificates, and more.
The good thing about Pro and Pro Plus is that both cost less than $100 for lifetime access. You pay once and get all the extra benefits for as long as you need them. Choosing to stick with the free classes, though, provides a wealth of knowledge, so you still benefit greatly.
Alison.com
Alison.com provides free online courses in accounting and 300 other subjects. Alison.com can offer its courses for free thanks to the advertisements on the website. You have the choice to upgrade your account to ad-free if the ads are too distracting, but it’s not necessary. You must also pay if you want your certificate- the price depends on if you want the digital format or a framed, physical copy.
Excellence in Financial Management
The Excellence in Financial Management website provides an extended range of accounting and business modules. They are entirely free for users. However, there is no certification at the end of the course, so it’s more for personal edification or a strong foundation than for career purposes.
Corporate Finance Institute
The Corporate Finance Institute has a free accounting fundamentals course that teaches such things as how to complete income statements, cash flow statements, and balance sheets. While it will not teach you everything you need to know, it is a great foundational course or refresher.
Free Management Library
The Free Management Library is a free collection of resources about hundreds of topics. Among others, it has resources for the basics of financial management in businesses. This will not get you any sort of credit or certificate, but it can be valuable to those hoping to dig into accounting.
Professional Tax Services
Several professional tax services provide some of the best free online accounting courses. Of courses, taxes are just a part of accounting. Therefore, if you want a job that involves more than tax management, you’ll need to supplement these courses.
Typically, the tuition is free, but the students often have to purchase course materials that can be a couple of hundred dollars. An upside to this, though, is that these tax services often employ their students. This makes these courses and jobs great for anyone who wants to go into full-time tax preparation or want some hands-on experience.
While you can contact several tax services about courses, below are a couple to help you get started.
1. Liberty Tax
Liberty Tax does offer tuition-free courses, which include a general income tax course, a course that teaches the ins and outs of taxes in Oregon and California, and a rapid online course to let you get through it quickly. Students usually spend anywhere from $49 to $200 on course materials, depending on the course they take and their location.
2. H&R Block
Another tax service that offers a free tax preparation course comes from H&R Block. It is a 12-week long course that covers a ton of basic tax information. It’s a great place to start, but you will need additional instruction if you want to specialize in a specific type of tax management.
The tuition is entirely free, but you will need to pay for the course materials. They range anywhere from $99 to $149, depending on the state. Also, some states do not make the course materials mandatory. You will need to talk to H&R Block directly to determine the full cost of materials.
Are Free Courses Worth It?
You might be thinking, “How does it help to know the best free online accounting courses if they don’t give me college credit or a certificate? Are they even worth my time?”
In short, yes, I believe they are for a couple of reasons. The first is pretty personal. Several years ago, I was starting my business degree that included accounting classes. I’ve always been good at math and finance topics, so I wasn’t worried a bit.
It took no time at all for me to discover that math and finance were small parts of accounting. Unfortunately, I struggled with a few areas of my accounting classes. My online classes did not provide any videos or lectures- I was teaching myself from the textbook, and the directions were not helpful.
I cannot tell you how many times I spent hours trying to figure out one little piece of the puzzle. I searched for tutorials but could not find any. Though I did pass the classes, I struggled more than I should have.
Looking through these courses to pass on the information to you guys made me wish I had access to them when I was getting my degree. Sometimes, all you need is one piece to click for everything to make sense, and a free course can show you that piece. So my first reason for saying that free courses are worth it is that they can help you understand the topic you are learning even better. It’s kind of like having a tutor.
The second reason is that just taking the courses can help you climb the career ladder. Employers hire and move people up in the company who are looking to improve themselves.
Taking even free courses shows that you are committed to learning and can help you get promoted- no degree necessary. Several people say that any course they take has helped them receive a raise, a promotion, or a new job they long for. Additionally, learning new things and self-improvement is never a waste of time.
What if Free Courses Aren't Enough?
If you find that you need a degree or certificate to fulfill your purpose, you might be able to do it for free. One way- as mentioned earlier- is through financial aid. Fill out the Free Application for Federal Student Aid (FAFSA), speak to the school, or apply directly through the certificate program.
Another option is to speak to your employer. Sometimes employers pay all or a portion of degree and certificate programs, especially if they benefit from it. It never hurts to ask.
Conclusion
As you can hopefully see, there are many ways to learn accounting for free. The most important thing is to ensure the course you choose will help you meet your personal or career goals. If you are uncertain of what you need to do or which path to take, reach out to a school or career advisor for help.