Basic Bookkeeping

Basic Bookkeeping

Module One: Introduction
• Workshop Objectives
Module Two: Basic Terminology (I)
• Balance Sheet
• Assets
• Liabilities
• Equity
• Income Statement
• Revenue
• Cost of Goods Sold
• Expenses
• Accounting Period
Module Two: Review
Module Three: Basic Terminology (II)
• Accounts Receivable
• Accounts Payable
• Depreciation
• General Ledger
• Interest
• Inventory
• Journals
• Payroll
• Trial Balance
Module Three: 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
Module Eight: 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