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The Management Sherpa

Basic Bookkeeping

Basic Bookkeeping

Regular price $137.00 CAD
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About this Course

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 appreciated the impact that numbers actually have on just about everything, you deserve a cookie. Welcome to Basic Bookkeeping!

Course Outline

Module One: Getting Started

  • Icebreaker
  • Housekeeping Items
  • The Parking Lot
  • Workshop Objectives

Module Two: Basic Terminology (I)

  • Balance Sheet
  • Assets
  • Liabilities
  • Equity
  • Income Statement
  • Revenue
  • Cost of Goods Sold
  • Expenses
  • Accounting Period
  • Review

Module Three: Basic Terminology (II)

  • Accounts Receivable
  • Accounts Payable
  • Depreciation
  • General Ledger
  • Interest
  • Inventory
  • Journals
  • Payroll
  • Trial Balance
  • Review

Module Four: Accounting Methods

  • Cash Method
  • Accrual Method
  • Differences between Cash and Accrual
  • Module Four: Review Questions

Module Five: Keeping Track of Your Business

  • Accounts Payable
  • Accounts Receivable
  • The Journal
  • The General Ledger
  • Cash Management
  • Module Five: Review Questions

Module Six: Understanding the Balance Sheet

  • The Accounting Equation
  • Double-Entry Accounting
  • Types of Assets
  • Types of Liabilities
  • Equity
  • Module Six: Review Questions

Module Seven: Other Financial Statements

  • Income Statement
  • Cash Flow Statement
  • Capital Statement
  • Budget vs. Actual
  • Module Seven: Review Questions

Module Eight: 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
  • Review

Module Nine: End of Period Procedures

  • Depreciating Your Assets
  • Reconciling Cash
  • Reconciling Investments
  • Working with the Trial Balance
  • Bad Debt
  • Posting Adjustments and Corrections
  • Module Nine: Review Questions

Module Ten: Financial Planning, Budgeting and Control

  • Reasons for Budgeting
  • Creating a Budget
  • Comparing Budget to Actual Expenses
  • Module Ten: Review Questions

Module Eleven: Auditing

  • What is an Audit?
  • When and Why Would You Audit?
  • Internal
  • External
  • Module Eleven: Review Questions

Module Twelve: Wrapping Up

  • Words from the Wise
  • Parking Lot
  • Action Plans and Evaluations