Are you interested in increasing your financial awareness while gaining a marketeable skill? Then this is the right course for you.
This course will train you on the basics of double-entry bookkeeping and how to analyze and record financial transactions. You'll get hands-on experience with handling accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities. You will also be taught how to write checks, prepare an income statement and how to close out accounts at the end of each fiscal period.
The topics covered include:
Wednesday - Lesson 01
• Account classifications
• T accounts
• Difference between a liability and an asset
• How to determine an owner’s equity
Friday - Lesson 02
• Creating an imaginary company for which you'll be the accountant
• How to analyze your company's transactions to determine which amounts go into which accounts
• Creating your company's own General Ledger forms and posting a few transactions into those accounts Preparing a Balance Sheet to prove your accounting equations
Wednesday - Lesson 03
• How to enter transactions into an 11-column journal
• Post or transfer those amounts into appropriate General Ledger accounts
Friday - Lesson 04
• Accounts Payable--money that you owe your vendors and suppliers
• Practice journalizing cash purchases and purchases on account
• Hands-on practice on transferring those purchases to their corresponding Accounts Payable Ledger accounts
Wednesday - Lesson 05
• Accounts Receivable - money owed to your company by its customers.
• How to journalize and post those sales on account
• How to enter charge sales into the journal
• How to transfer the information into an Accounts Receivable Ledger.
Friday - Lesson 06
• How to determine gross pay, deductions, and net pay
• How to prepare a payroll, write payroll checks
• How to prepare and maintain accurate payroll records.
Wednesday - Lesson 07
• Banks and banking services
• Proper way to write checks
• Make out deposit tickets
• Reconcile your company's checking account with the bank statement
Friday - Lesson 08
• How to prepare a Schedule of Accounts Payable
• How to prepare a Schedule of Accounts Receivable.
Wednesday - Lesson 09
• Preparing a worksheet showing the net income or net loss for the fiscal period. The worksheet will show all income and expenses for the fiscal period as well as the assets, liabilities, and owner’s equity account balances.
Friday - Lesson 10
• How to prepare various reports that are vital to the well-being of your company
• How these reports can be used to make sound financial decisions in the next fiscal period
• How to put together an Owner’s Equity Statement, an Income Statement, and a Distribution of Net Income.
Wednesday - Lesson 11
• Prepare for the end of the fiscal period by adjusting your asset account balances to accurately reflect the assets remaining at the end of the year
• How to journalize and post adjusting and closing entries to bring your company's General Ledger up to date.
Friday - Lesson 12
• Prepare a Post Closing Trial Balance report to ensure that all of our debits and credits in the General Ledger balance out in preparation for the new fiscal period.
Anyone interested in enhancing their financial awareness for a lucrative career in this field can attend this course.
Students enrolling for this course should have the following:
• Internet access
• One of the following browsers:
Microsoft Internet Explorer (9.0 or above)
• Adobe PDF plug-in (a free download obtained at Adobe.com)
After completing this course, students will be able to develop a complete understanding of the topics covered and will be able to apply the concepts successfully.
With 12 years experience in business and 27 years teaching experience,