ACCO B7600 - Bookkeeping

Course Description

Understanding basic accounting principles and maintaining accurate financial records is critical for all business and nonprofit organizations. This hands-on bookkeeping program focuses on the essential skills needed in today’s business environment. You will learn to work with general ledger, assets, liabilities, equity accounts, balance sheets, income statements, basic payroll, merchandise inventory, and internal controls and fraud prevention. The program is designed based on the standards established by the American Institute of Professional Bookkeepers (AIPB). 

Course Outline

I.     Asset, Liability, Owner’s Equity, Revenue, and Expense Accounts
II.    T Accounts, Debits and Credits, Trial Balance, and Financial Statements     
III.   General Journal, General Ledger      
IV.   Adjusting Entries and the Work Sheet                                                        
V.    Closing Entries and the Post-Closing Trial Balance  
VI.   Bank Accounts, Cash Funds, and Internal Controls                
VII.   Employee Earnings and Deductions                                           
VIII.  Employer Taxes, Payments, and Reports                     
IX.    Sales and Purchases               
X.     Cash Receipts and Cash Payments                                                           
XI.    Work Sheet and Adjusting Entries                                                            
XII.   Financial Statements, Closing Entries, and Reversing Entries   

Learner Outcomes

Upon completion of this program participants will have an understanding of the following:
•    Apply the concepts of accrual accounting to transactions that span fiscal periods
•    Trace the effect of accrual and deferral transactions to financial statements
•    Apply accounting concepts and the basic tools of financial analysis in identifying and correcting errors
•    Reconcile bank accounts
•    Prepare payroll transactions, from paying wages to depositing and reporting taxes
•    Apply accounting concepts to depreciation transactions, including various methods of calculating depreciation for book and tax purposes 
•    Value inventory, record costs, make entries, and report inventory on financial statements
•    Help your company or client use basic internal controls to prevent theft, embezzlement, or check and credit card fraud by employees, customers, or vendors

Notes

Materials Required:
Handouts provided by the instructor. 

Students must purchase the following textbook prior to the start of class - College Accounting: A Career Approach. 13th Edition, by Cathy J. Scott