Accounting, Bookkeeping & Payroll

Course details

No business exists without accounting. If you want to run any business no matter what is your business type or size, the knowledge of accounting and payroll is a must. With the content of the Accounting, Bookkeeping & Payroll – Complete Video Course(US) course, you will be knowledgeable enough to run a business and plan and organise your business goals based on the accounting and payroll data.
The course is divided into two parts – Introduction to Business Accounting and Bookkeeping, Payroll ;In the business accounting section, you will learn about the basic accounting concepts including accounting equation and transaction, posting entries and adjusting entries, preparing balance sheet, making financial statements, and Fiscal year, etc.  On the other hand, Bookkeeping and Payroll section deals with the knowledge of the internal controls, subsidiary ledgers, reconciliations, sales tax, budgeting, accounting for merchandising and cash, partnerships and corporations, and cash flow.
In short, the course covers all the accounting terms and bookkeeping concepts so that you can manage the accounting system of your organisation smoothly.

Module 01 : Business Accounting
Professional Bookkeeper Introduction

• Professional Bookkeeper

Introduction to Accounting and Business

• Defining a Business
• Ethics in Accounting
• Generally Accepted Accounting Principles (GAAP)

The Accounting Equation

• The Accounting Equation
• Transactions
• Financial Statements

Analyzing Transactions

• The Accounting Equation and Transactions
• Double-Entry System
• Transactions – Journalizing

Entering Information - Posting Entries

• Posting Entries
• The Trial Balance
• Finding Errors Using Horizontal Analysis

Adjusting Process

• The Purpose of the Adjusting Process

Adjusting Entries

• Adjusting Entries – Prepaid Expenses
• Adjusting Entries – Accrued Revenues
• Adjusting Entries – Depreciation Expense

Adjustment Summary

• Adjustment Summary – Review
• Vertical Analysis

Preparing a Worksheet

• Preparing a Worksheet

Financial Statements

• The Income Statement
• Financial Statements – Definitions

Completing the Accounting Cycle

• Temporary vs. Permanent Accounts

The Accounting Cycle Illustrated

• Accounting Cycle Illustrated – Steps 1-5
• Accounting Cycle Illustrated – Steps 6-10

Fiscal Year

• Fiscal Year

Spreadsheet Exercise

• Spreadsheet Exercise – Steps 1-4
• Spreadsheet Exercise – Steps 5-7

Module 02 : Bookkeeping and Payroll
Principles

• Introduction – GAAP
• Transactions

Overview of Internal Controls

• The Need for Internal Controls
• Control Concepts

Subsidiary Ledgers and Special Journals

• Subsidiary Ledgers
• Special Journals – Posting Sales Journal 
• Special Journals – Posting Cash Receipts

Reconciliations

• Purpose 
• Reconciliation
• Who Should Perform the Reconciliation

Correcting Entries

• Correcting Entries
•  The Wrong Account

Sales Tax

• Sales Tax 
• Sales Tax Rules and Filing 

Budgeting

• All Businesses Must Have a Strategic Plan
• Types of Budgets

Accounting for Merchandising

• Merchandising Income Statement 
• Sales Discounts
• Purchase Discounts

Accounting for Cash

• Defining Petty Cash
• Accounting for Cash Over or Short
• Cash Controls – The Bank Reconciliation

Payroll

• The Payroll Process
• Payroll Process – Deduction Tables
• Payroll Process – Earnings Record

Partnerships and Corporations

• The Partnership 
• Corporations
• Preferred Stock

Accounts Receivable and Bad Debts

• Accounts Receivable
• Bad Debts

Interim Profit or Loss

• Interim

Year End - Preparing to Close the Books

• Inventory
• Inventory Obsolescence 

Year End - Closing the Books

• Year End – Closing Journal Entries
• Year End – Post Closing Trial Balance

Cash Flow

• What is Cash Flow
• Cash Flow – The Indirect Method 
• The Direct Method

Updated on 11 June, 2018