Basic Bookkeeping Workshop
Course Duration 1 Day
Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses,
license plates, phones, prices, and of course, money! Numbers connect us all to each other in
many more ways than we might imagine. Essentially, our world revolves around numbers.
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 appreciate the impact that numbers actually
have on just about everything, you deserve a cookie. Welcome to Basic Bookkeeping!
At the end of the course participants will be able to :
- Understand basic accounting terminology
- Identify the differences between the cash and accrual accounting methods.
- Keep track of your business by becoming familiar with accounts payable and accounts receivable.
- Use a journal and general ledger to document business financials.
- Utilize the balance sheet.
- Identify different types of financial statements.
- Uncover the reasons for and actually create a budget.
- Be familiar with internal and external auditing.
Basic Terminology (I)
Cost of Goods Sold
Basic Terminology (II)
Differences between Cash and Accrual
Keeping Track of Your Business
The General Ledger
Understanding the Balance Sheet
The Accounting Equation
Types of Assets
Types of Liabilities
Other Financial Statements
Cash Flow Statement
Budget vs. Actual
Payroll Accounting/ Terminology
Employee Tax Withholdings
Employer Tax Expenses
Tracking Accrued Leave
Government Payroll Returns/Reports
End of Period Procedures
Depreciating Your Assets
Working with the Trial Balance
Posting Adjustments and CorrectionsFinancial Planning, Budgeting and Control
Reasons for Budgeting
Creating a Budget
Comparing Budget to Actual Expenses
What is an Audit
When and Why Would You Audit
Download this outline as a PDF.