Basic Bookkeeping
- Training Time: 2 days, 9:00 am to 5:00 pm
- Inclusion: Participants Manual and Certificate of Completion
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!
Learning Points
- 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 Outline
Basic Bookkeeping – Module 1
Getting Started
- Introduction to Basic Bookkeeping
- Workshop Objectives
- Pre-Assignment Review
Basic Bookkeeping – Module 2
Basic Terminology (I)
- Balance Sheet
- Assets / Liabilities /Equity
- Income Statement / Revenue
- Cost of Goods Sold /Expenses
- Accounting Period
- Basic Bookkeeping – Module 3
Basic Terminology (II) - Accounts Receivable / Accounts Payable
- Depreciation / General Ledger
- Interest / Inventory / Journals
- Payroll / Trial Balance
Basic Bookkeeping – Module 4
Accounting Methods
- Cash Method
- Accrual Method
- Differences between Cash and Accrual
- Basic Bookkeeping – Module 5
Keeping Track of Your Business - Accounts Payable / Accounts Receivable / The Journal / The General Ledger
Basic Bookkeeping – Module 6
Understanding the Balance Sheet
- The Accounting Equation
- Double-Entry Accounting
- Types of Assets / Types of Liabilities / Equity
Basic Bookkeeping – Module 7
Other Financial Statements
- Income Statement
- Cash Flow Statement
- Budget vs. Actual
Basic Bookkeeping – Module 8
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
Basic Bookkeeping – Module 9
End of Period Procedures
- Depreciating Your Assets / Reconciling Cash / Reconciling Investments / Working with Trial balance / Bad Debt / Posting Adjustments and Corrections
Basic Bookkeeping – Module 10
Financial Planning, Budgeting and Control
- Reasons for Budgeting / Creating a Budget / Comparing Budget to Actual Expenses
Basic Bookkeeping – Module 11
Auditing
- What is an Audit? / When and Why Would You Audit / Internal Audit / External Audit
Basic Bookkeeping – Module 12
Wrapping it up
- Words from the Wise
You Can Expect...
- Understand basic accounting terminology
- Keep track of your business through accounts payable & accounts receivable.
- Learn to use a journal and general ledger to document business financials
You Need This If...
- You need to utilize balance sheet
- You need to identify different types of financial statements
- You want to create and appreciate a budget
This Is About...
- Being familiar with internal and external auditing
In-House Rate
Participants: 10 – 15
Duration: 2 days
Course Fee:
Level 10*
, per person
Includes: Manual, Certificate of Completion
* hover over the level link to see the actual price summary