About This Course
Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses, license plates, phones, prices, and of course, money! Numbers connect us all to each other in many more ways than we might imagine. Essentially, our world revolves around numbers. 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!Please login.
Learning Objectives
Numbers! Numbers! Numbers! Wherever you go,
you are bound to see them. On addresses, license plates, phones, prices, and of course, money!
Numbers connect us all to each other in many more ways than we might imagine.
Essentially, our world revolves around numbers. 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!
Curriculum
12h
Basic Terminology (I)
Basic bookkeeping terminology includes assets, liabilities, equity, revenue, expenses, debits, credits, journals, ledgers, trial balance, and financial statements, forming the foundation for accurate financial record-keeping and reporting.
Basic Terminology (II)
Basic bookkeeping terminology also encompasses accounts payable, accounts receivable, cash flow, reconciliation, double-entry bookkeeping, income statement, balance sheet, and general ledger, essential for effective financial management and analysis.
Accounting Methods
Accounting methods include cash basis, where income and expenses are recorded when received or paid, and accrual basis, which recognizes transactions when they occur, providing a more accurate financial picture.
Keeping Track of Your Business
Keeping track of your business involves maintaining accurate financial records, monitoring cash flow, regularly reviewing budgets and expenses, using accounting software, and conducting periodic financial analysis to ensure informed decision-making.
Understanding the Balance Sheet
Understanding the balance sheet involves analyzing three key components: assets (what the company owns), liabilities (what it owes), and equity (owner's interest), providing a snapshot of financial health at a specific time.
Other Financial Statements
Other financial statements include the income statement, which shows revenue and expenses over a period; the cash flow statement, detailing cash inflows and outflows; and the statement of changes in equity, tracking ownership changes.
Payroll Accounting / Terminology
Payroll accounting terminology includes gross pay, net pay, deductions, withholdings, payroll taxes, overtime, employee benefits, pay periods, W-2 forms, and payroll journals, essential for accurate employee compensation and compliance.
End of Period Procedures
End of period procedures involve closing temporary accounts, preparing financial statements, adjusting entries, reconciling accounts, conducting inventory counts, and ensuring all transactions are recorded for accurate reporting and analysis.
Financial Planning, Budgeting and Control
Financial planning, budgeting, and control involve setting financial goals, creating budgets to allocate resources, monitoring performance against the budget, analyzing variances, and making adjustments to ensure effective financial management and sustainability.
Auditing
Auditing involves examining financial records and processes to ensure accuracy, compliance with regulations, and adherence to accounting standards. It can be internal or external, providing assurance and identifying areas for improvement.
Post-Test
Post-Test
Your Instructors
$199.00$250.00
-40%
Managing Personal Finances
$150.00$250.00
-20%
Budgets and Financial Reports
$199.00$250.00
