WCCF-FF 1003 Basic Bookkeeping
The following is the course description for the Basic Bookkeeping 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.
Research has consistently demonstrated that when clear goals are associated with learning, the learning occurs more easily and rapidly. With this in mind, let’s review our goals for today.
By the end of this workshop, 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 Core Competencies:
Module 1: Basic Terminology (I)
Topic A: Balance Sheet
Topic B: Assets
Topic C: Liabilities
Topic D: Equity
Topic E: Income Statement
Topic F: Revenue
Topic G: Cost of Goods Sold
Topic H: Expenses
Topic I: Accounting Period
Module 2: Basic Terminology (II)
Topic A: Accounts Receivable
Topic B: Accounts Payable
Topic C: Depreciation
Topic D: General Ledger
Topic E: Interest
Topic F: Inventory
Topic G: Journals
Topic H: Payroll
Topic I: Trial Balance
Module 3: Accounting Methods
Topic A: Cash Method
Topic B: Accrual Method
Topic C: Differences between Cash and Accrual
Module 4: Keeping Track of Your Business
Topic A: Accounts Payable
Topic B: Accounts Receivable
Topic C: The Journal
Topic D: The General Ledger
Topic E: Cash Management
Module 5: Understanding the Balance Sheet
Topic A: The Accounting Equation
Topic B: Double-Entry Accounting
Topic C: Types of Assets
Topic D: Types of Liabilities
Topic E: Equity
Module 6: Other Financial Statements
Topic A: Income Statement
Topic B: Cash Flow Statement
Topic C: Capital Statement
Topic D: Budget vs. Actual
Module 7: Payroll Accounting / Terminology
Topic A: Gross Wages
Topic B: Net Wages
Topic C: Employee Tax Withholding’s
Topic D: Employer Tax Expenses
Topic E: Salary Deferrals
Topic F: Employee Payroll
Topic G: Employee Benefits
Topic H: Tracking Accrued Leave
Topic I: Government Payroll Returns/Reports
Module 8: End of Period Procedures
Topic A: Depreciating Your Assets
Topic B: Reconciling Cash
Topic C: Reconciling Investments
Topic D: Working with the Trial Balance
Topic E: Bad Debt
Topic F: Posting Adjustments and Corrections
Module 9: Financial Planning, Budgeting and Control
Topic A: Reasons for Budgeting
Topic B: Creating a Budget
Topic C: Comparing Budget to Actual Expenses
Module 10: Auditing
Topic A: What is an Audit?
Topic B: When and Why Would You Audit?
Topic C: Internal
Topic D: External
- Lectures 1
- Quizzes 1
- Duration 50 hours
- Language English
- Students 2989
- Certificate Yes
- Assessments Yes