LRN0218 - The Basics of Bookkeeping
10678159
Delivery Options
WEB-Online (Self Paced w/ No campus attendance)
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Course Description
This course will help you understand how to record every penny that comes into and out of your business You will learn how to create a chart of accounts that meets your needs. What are debits and credits? What do the numbers mean? How do I label accounts? Even if you outsource your bookkeeping needs, you should still have a basic understanding of what happens with the money earned and the money spent.
Course Outline
Unit 1 - The Accounting Equation and Chart of Accounts
- The accounting question
- The chart of accounts for a business
- Temporary accounts (Revenue and Expenses)
- Where the accounts fall under the accounting equation
Unit 2 - Journals and the General Ledger
- Special Journals
- General Journal
- The General Ledger Accounts
Unit 3 - Recording Transactions
- The Rules
- Debits and Credits
- T-Accounts
- Using journals to record transactions
Unit 4 - Month End Closing
- Adjusting Entries
- Posting to the General Ledger
- End of month account balances
Learner Outcomes
After taking this course, you will be able to:
- evaluate the financial transactions and events of a business
- record these transactions in the appropriate accounts
- balance the general ledger at month's end
- complete the accounting equation
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