Basic Bookkeeping 101
This basic bookkeeping 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, and so much more. 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!
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.
Module One: Introduction
Module Two: Basic Terminology (I)
Cost of Goods Sold
Module Two: Review
Module Three: Basic Terminology (II)
Module Three: Review
Module Four: Accounting Methods
Differences between Cash and Accrual
Module Four: Review Questions
Module Five: Keeping Track of Your Business
The General Ledger
Module Five: Review Questions
Module Six: Understanding the Balance Sheet
The Accounting Equation
Types of Assets
Types of Liabilities
Module Six: Review Questions
Module Seven: Other Financial Statements
Cash Flow Statement
Budget vs. Actual
Module Seven: Review Questions
Module Eight: Payroll Accounting / Terminology
Employee Tax Withholding’s
Employer Tax Expenses
Tracking Accrued Leave
Government Payroll Returns/Reports
Module Eight: Review
Module Nine: End of Period Procedures
Depreciating Your Assets
Working with the Trial Balance
Posting Adjustments and Corrections
Module Nine: Review Questions
Module Ten: Financial Planning, Budgeting and Control
Reasons for Budgeting
Creating a Budget
Comparing Budget to Actual Expenses
Module Ten: Review Questions
Module Eleven: Auditing
What is an Audit?
When and Why Would You Audit?
Module Eleven: Review Questions
Module Twelve: Wrapping Up
Words from the Wise