Professional Development

Basic Bookkeeping 101 (E1061)


Description

This course is suited to those looking to learn about basic bookkeeping, in a small business,club or association where there is a need to keep accounts. Learn all about ​Balance Sheets, Assets, Liabilities, Equity, Income Statements, Revenue, Expenses,Cost of Good Sold, Accounting Periods, Accounts Receivable, This course is an invaluable tool for anyone interested in understanding how the money end of business works

Some of us enjoy dealing with numbers while others may have a fear of them, or even a phobia. For those of you who have already recognized and appreciate the impact that numbers actually have on just about everything, you deserve a cookie. Welcome to Basic Bookkeeping!

Course Goals:
By the end of this course, participants will be able to:
• Understand basic accounting terminology.
• Identify the differences between the cash and accrual accounting methods.
• Keep track of your business by becoming familiar with accounts payable and accounts receivable.
• Use a journal and general ledger to document business financials.
• Utilize the balance sheet.
• Identify different types of financial statements.
• Uncover the reasons for and actually create a budget.
• Be familiar with internal and external auditing.

Course Modules:

Module One: Introduction
Workshop Objectives

Module Two: Basic Terminology (I)
Balance Sheet
Assets
Liabilities
Equity
Income Statement
Revenue
Cost of Goods Sold
Expenses
Accounting Period
Case Study
Module Two: Review

Module Three: Basic Terminology (II)
Accounts Receivable
Accounts Payable
Depreciation
General Ledger
Interest
Inventory
Journals
Payroll
Trial Balance
Case Study
Module Three: Review

Module Four: Accounting Methods
Cash Method
Accrual Method
Differences between Cash and Accrual
Case Study
Module Four: Review Questions

Module Five: Keeping Track of Your Business
Accounts Payable
Accounts Receivable
The Journal
The General Ledger
Cash Management
Case Study
Module Five: Review Questions

Module Six: Understanding the Balance Sheet
The Accounting Equation
Double-Entry Accounting
Types of Assets
Types of Liabilities
Equity
Case Study
Module Six: Review Questions

Module Seven: Other Financial Statements
Income Statement
Cash Flow Statement
Capital Statement
Budget vs. Actual
Case Study
Module Seven: Review Questions

Module Eight: Payroll Accounting / Terminology
Gross Wages
Net Wages
Employee Tax Withholding’s
Employer Tax Expenses
Salary Deferrals
Employee Payroll
Employee Benefits
Tracking Accrued Leave
Government Payroll Returns/Reports
Case Study
Module Eight: Review

Module Nine: End of Period Procedures
Depreciating Your Assets
Reconciling Cash
Reconciling Investments
Working with the Trial Balance
Bad Debt
Posting Adjustments and Corrections
Case Study
Module Nine: Review Questions

Module Ten: Financial Planning, Budgeting and Control
Reasons for Budgeting
Creating a Budget
Comparing Budget to Actual Expenses
Case Study
Module Ten: Review Questions

Module Eleven: Auditing
What is an Audit?
When and Why Would You Audit?
Internal
External
Case Study
Module Eleven: Review Questions

Module Twelve: Wrapping Up
Words from the Wise

Content
  • Basic Bookkeeping
Completion rules
  • All units must be completed
  • Leads to a certification with a duration: Forever