Online College Courses for Credit

4 Tutorials that teach Account Groups
Take your pick:
Account Groups

Account Groups

Author: Kevin Bullock

In this lesson, the student will learn about the five major account groups.

See More
Fast, Free College Credit

Developing Effective Teams

Let's Ride
*No strings attached. This college course is 100% free and is worth 1 semester credit.

29 Sophia partners guarantee credit transfer.

311 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 27 of Sophia’s online courses. Many different colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Terms to Know

A record that provides information about a given asset, liability, equity, revenue or expense.


Physical or non-physical resources owned by an organization that have economic value.


The remaining value once liabilities are subtracted from assets.


Costs associated with operating or maintaining a business.


Debts and other financial responsibilities of an organization.

Permanent Accounts

Accounts whose balances carry over from one accounting period to the next accounting period.


Earnings from interest or from the sale of goods or services.

Temporary Accounts

Accounts whose balances are closed at the end of an accounting period and reopened at the beginning of the next period.