20 HOURS SHORT COURSE BOOKKEEPING

$225.00

COURSE DESCRIPTION The aim of this course is to examine the scope and nature of bookkeeping and understand why it is an essential business function. Record keeping is essential in any bookkeeping practice. Keeping track of money that is coming into and out of a business by keeping a paper trail is essential to accurately track transactions. LESSONS LESSON 1 SCOPE & NATURE OF BOOKKEEPING Introduction What is bookkeeping? Why is record keeping important in bookkeeping? What are the books? Terminology and the bookkeeper’s world Financial information Hints and tips for making bookkeeping stress free from day one Case study: Sally’s hairdressing studio Review what you have been learning LESSON 2 ACCOUNTING NORMS Accounting conventions Business Entity Convention Going Concern Convention Accounting Period Convention Monetary Entity Convention Recognition of Law Accounting Doctrines – consistency, relevance, materiality, verifiability Accounting standards International Standard Setting Process Case study: A freelancing business LESSON 3 THE BOOKKEEPING PROCESS Understanding the flow of information in bookkeeping How and when do you record transactions? Case study: Carlo’s chiropractic LESSON 4 DOUBLE ENTRY BOOKKEEPING Ledgers Opening up a general ledger Ledger accounts and sub ledgers General Ledger Entries resulting from transactions Recording transactions Case study: A gardening services LESSON 5 CHART OF ACCOUNTS – BALANCE AND INCOME STATEMENTS About the chart of accounts Case study: Rob the builder LESSON 6 LEDGER ACCOUNTS -PROFIT AND LOSS STATEMENTS Ledger accounts and double entry bookkeeping Footing ledger accounts The trial balance Accounting for drawings Case study: Jimmy loses everything LESSON 7 CASH RECEIPTS AND PAYMENTS JOURNALS Journals – Day books Journals appropriate for a Service Business Recording cash transactions in journals Case study LESSON 8 WHAT COMES NEXT? Starting a Bookkeeping Business Considering blockchain Where to keep learning and developing skills COURSE FEATURES