BUY COURSE NOW - online self directed

Welcome to Basic Bookkeeping - understanding the use and collection of numeric data and information. This is a learning program for those new to this area of data management, or looking to further their skills.

Course Objectives:

• Understand basic accounting terminology
• Identify the differences between the cash and accrual accounting methods
• Becoming familiar with accounts payable and accounts receivable
• Using a journal and general ledger to document business financials
• Utilize the balance sheet
• Identify different types of financial statements
• Uncover the reasons for and create a budget
• Be familiar with internal and external auditing

Course Outline:


Basic Bookkeeping

Module One: Basic Terminology (I)

• Balance Sheet

• Assets

• Liabilities

• Equity

• Income Statement

• Revenue

• Cost of Goods Sold

• Expenses

• Accounting Period

• Review

Module Two: Basic Terminology (II)

• Accounts Receivable

• Accounts Payable

• Depreciation

• General Ledger

• Interest

• Inventory

• Journals

• Payroll

• Trial Balance

• Review

Module Three: Accounting Methods

• Cash Method

• Accrual Method

• Differences between Cash and Accrual

• Module Three: Review Questions

Module Four: Keeping Track of Your Business

• Accounts Payable

• Accounts Receivable

• The Journal

• The General Ledger

• Cash Management

• Module Four: Review Questions

Module Five: Understanding the Balance Sheet

• The Accounting Equation

• Double-Entry Accounting

• Types of Assets

• Types of Liabilities

• Equity

• Module Five: Review Questions

Module Six: Other Financial Statements

• Income Statement

• Cash Flow Statement

• Capital Statement

• Budget vs. Actual

• Module Six: Review Questions

Module Seven: Payroll Accounting / Terminology

• Gross Wages

• Net Wages

• Employee Tax Withholdings

• Employer Tax Expenses

• Salary Deferrals

• Employee Payroll

• Employee Benefits

• Tracking Accrued Leave

• Payroll Returns/Reports

• Module Seven: Review Questions

Module Eight: End of Period Procedures

• Depreciating Your Assets

• Reconciling Cash

• Reconciling Investments

• Working with the Trial Balance

• Bad Debt

• Posting Adjustments and Corrections

• Module Eight: Review Questions

Module Nine: Financial Planning, Budgeting and Control

• Reasons for Budgeting

• Creating a Budget

• Comparing Budget to Actual Expenses

• Module Nine: Review Questions

Module Ten: Auditing

• What is an Audit?

• When and Why Would You Audit?

• Internal

• External

• Module Ten: Review Questions

Module Eleven: Assignment Review / Wrap Up