Bookkeeping Basics #2- Understand The Mechanics

Bookkeeping Basics #2: Understand The Mechanics, available at $139.99, has an average rating of 4.65, with 39 lectures, 5 quizzes, based on 1732 reviews, and has 9259 subscribers.

You will learn about Understand what debits and credits actually mean when it comes to bookkeeping and accounting Learn the Fundamental Accounting Equation and how it applies to bookkeeping How are transactions analyzed, recorded and posted What steps are needed for End-of-the-Month adjustment entries and End-of-the-Year closing entries What is depreciation? What are Prepaid Items? What is Accrued Payroll? How is Inventory booked? This course is ideal for individuals who are This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping. It is particularly useful for This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.

Enroll now: Bookkeeping Basics #2: Understand The Mechanics

Summary

Title: Bookkeeping Basics #2: Understand The Mechanics

Price: $139.99

Average Rating: 4.65

Number of Lectures: 39

Number of Quizzes: 5

Number of Published Lectures: 39

Number of Published Quizzes: 5

Number of Curriculum Items: 44

Number of Published Curriculum Objects: 44

Original Price: $79.99

Quality Status: approved

Status: Live

What You Will Learn

Understand what debits and credits actually mean when it comes to bookkeeping and accounting

Learn the Fundamental Accounting Equation and how it applies to bookkeeping

How are transactions analyzed, recorded and posted

What steps are needed for End-of-the-Month adjustment entries and End-of-the-Year closing entries

What is depreciation? What are Prepaid Items? What is Accrued Payroll? How is Inventory booked?

Who Should Attend

This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.

Target Audiences

This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.

Using simple, easy-to-understand discussion, illustrations and note sheets, this focused course with video lessons teaches you the basic understanding of the financial tools “debits” and “credits” along with allowing you to put your learning into practice.

Everyday examples, using common phrases and terms you already know, allows the instructor to break through the confusion and teach the concept and use of the tools on which everything else in bookkeeping and accounting is built.  Then as each new concept is introduced, you will have the opportunity to apply those points using a short, customized practice activity.  After completing your work, Ron will walk through the steps to allow you to understand what has taken place and identify areas you may need more practice or a better understanding.

After completing the course, students will feel more confident and knowledgeable on topics such as

What’s the difference between debits and credits

When does each one mean an increase versus a decrease

How do they relate to assets, liabilities and equity

Also, how do they relate to income and expenses

What is a T-Account and how is it used in bookkeeping

What is an EASY way to remember when to use “debit” and use “credit”

This course works in conjunction with other courses in the series including:

an overview of the basic fundamentals of how bookkeeping works for small businesses

a complete practice set that allows you to put all the new learning into use

an overview of the largest small-business software in the world

and a course specifically designed to connect the concepts with personal finance.

CPE (Continuing Professional Education)

Learning Objectives

1. Understand the main components of the Fundamental Accounting Equation

2. Distinguish between bookkeeping accounts that increase as debits and ones that increase as credits

3. Discuss the process of footing and balancing accounting T-accounts/ledgers

4. Explain the Accounting Cycle’s steps

5. Define the difference between Interim and Final financial reports

6. Recognize the need for Adjusting activities and Closing activities in the Accounting Cycle

7. Demonstrate the differences in recording adjusting entries for depreciation, accrued liabilities, inventory tracking, and prepaid assets

8. Explain why annual bookkeeping records are closed each year

9. List which types of accounts are closed, and which types remain open during the closing process

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Course Curriculum

Chapter 1: Introductions!

Lecture 1: Course Overview

Lecture 2: Tips for the Experience.

Lecture 3: Meet the Instructor and Resources

Lecture 4: The Set Up of the Course

Lecture 5: Accounting is a Process

Chapter 2: Lets Learn Debits and Credits

Lecture 1: Intro & Lets Refresh

Lecture 2: Finish Up The Refresh

Lecture 3: Seeing Double?

Lecture 4: Seeing MORE Than Double?

Lecture 5: Bob and the Equation

Lecture 6: More Equation (and Bob)

Lecture 7: Equation Practice

Lecture 8: T-Accounts & What Is A Debit?

Lecture 9: Transactions to T-Accounts

Lecture 10: Footing, Balancing and Trial Balancing

Lecture 11: Introducing The Quiz and Assignments

Lecture 12: Homework Activity, Instructions, and Work Papers

Lecture 13: AN IMPORTANT QUICK NOTE!!!

Lecture 14: Homework Answers – Part 1

Chapter 3: Accounting Is A Cycle

Lecture 1: Introducing The Cycle

Lecture 2: Interim vs Final

Lecture 3: What Are Adjustments and Closings?

Lecture 4: Setting Up The Worksheet

Chapter 4: Adjusting In The Cycle

Lecture 1: Why Adjust?

Lecture 2: Prepaid Assets

Lecture 3: Inventory Adjustments

Lecture 4: Depreciation

Lecture 5: More Depreciation

Lecture 6: Accrued Liabilities

Lecture 7: Wrapping The Adjustments

Lecture 8: Homework Assignment – Part 2

Lecture 9: Homework Answers – Part 2

Chapter 5: Closing Up The Cycle

Lecture 1: Closing? Were Still In Business!

Lecture 2: What Gets Closed

Lecture 3: Revenue, Expenses and IS

Lecture 4: Closing The IS and Draw

Lecture 5: Homework Assignment – Part 3

Lecture 6: Homework Answers – Part 3

Chapter 6: So Now What?

Lecture 1: BONUS: Your Certificate and Whats Next?

Instructors

Ron Trucks
Small Business Coach and College Instructor

Rating Distribution

1 stars: 3 votes

2 stars: 18 votes

3 stars: 123 votes

4 stars: 553 votes

5 stars: 1035 votes

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