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What Will You Learn?
- Record daily business transactions accurately
- Understand double-entry bookkeeping
- Prepare simple financial reports
- Manage cash flow effectively
Course Content
Module One
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Introduction
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Overview of Course Objectives
Module Two
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Basic Terminology (I)
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Balance Sheet
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Assets
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Liabilities
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Equity
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Income Statement
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Revenue
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Cost of Goods Sold (COGS)
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Expenses
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Accounting Period
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Review
Module Three
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Basic Terminology (II)
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Accounts Receivable
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Accounts Payable
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Depreciation
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General Ledger
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Interest
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Inventory
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Journals
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Payroll
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Trial Balance
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Review
Module Four
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Accounting Methods
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Cash Method
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Accrual Method
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Difference Between Cash and Accrual
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Review Questions
Module Five
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Keeping Track of Your Business
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Accounts Payable
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Accounts Receivable
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The Journal
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The General Ledger
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Cash Management
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Review Questions
Module Six
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Understanding the Balance Sheet
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The Accounting Equation
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Double-Entry Accounting
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Types of Assets
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Types of Liabilities
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Equity
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Review Questions
Module Seven
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Other Financial Statements
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Income Statement
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Cash Flow Statement
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Capital Statement
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Budget vs. Actual
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Review Questions
Module Eight
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Payroll Accounting / Terminology
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Gross and Net Wages
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Employer Tax Withholdings
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Salary Deferrals
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Employee Payroll and Benefits
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Tracking Accrued Leave
Module Nine
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End of Period Procedures
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Depreciating Your Assets
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Reconciling Cash and Investments
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Bad Debt
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Posting Adjustments and Corrections
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Review Questions
Module Ten
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Financial Planning, Budgeting and Control
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Reasons for Budgeting
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Creating a Budget
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Comparing Budget to Actual Expenses
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Review Questions
Module Eleven
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Auditing
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What is an Audit?
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When and Why Would You Audit?
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Internal and External
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Review Questions
Module Twelve
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Wrapping Up
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Words from the Wise
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