Basic Bookkeeping Course

Most things in life are based on numbers. It makes logical sense then to get the most out of the numbers you have in your life. One of these things is bookkeeping. Here we use numbers to communicate a variety of things, such as how many assets do we have, or balancing money going out to money received.

Some people enjoy working with figures, others do not. If you are one of the former, we have a great course for you. The course is intended for novices and beginner bookkeepers and will give participants a good general perspective of bookkeeping.

Basic Bookkeeping Course :Course Outline:

Most people know what a household budget is, it is not very different from basic accounting except that in accounting we use specific terms for things.

Your Edgars account which you list in your monthly household budget is now listed as a payable account in the accounts payable section of the general ledger, and in both cases accounts payable is a liability to your household or your business. Some people shy away from the word accounting or book keeping, yet they practice the principals in their daily lives.

When you check your change in your hand from the shop against the slip, that?s reconciling. You?re so good at it you can do it in your head, but let someone say bookkeeping and you feel as if you?ve been plunged into ice water.

Quite the opposite is true, all you have to really learn is the terminology. When you know that and the basic concepts of accounting, you?ll be swimming like a duck ? as if you were born to it.

Basic concepts of accounting may sound daunting, but really aren?t. Like mathematics, once a concept is proven, it stays that way forever. An obtuse triangle will never become an acute triangle, a liability will never become an asset.

The concepts don?t change. What you have at your disposal (financially) plus your expenses will always equal your total worth (financially). That sounded easy, because it is easy ? Equity (what is financially at your disposal) plus liabilities (what you owe) always equals your total assets.

The term to remember is E+ L=A. TIP: No, unless your car is a vintage car, it is not an asset, it is always a liability. It is an asset to you, but a liability to your bank balance.

At the end of this workshop, you will know the basic concepts of accounting and the basic terms. You will understand the difference between cash and accrual accounting and the difference between depreciation and cost. You will be able to use the general ledger in your business to keep track of accounts, both payable and receivable.

We will also teach you how to balance your books at the end of the accounting cycle. We trust that you will find the workshop on basic bookkeeping easy and enjoyable as we have tried our best to make it simple and understandable and particularly to make it relevant to you.

We have included many practical activities to help you use the skills you have learned, accounting is like mathematics ? practice, practice, practice. We round off our course by looking at financial planning, budgeting and control which are all applicable in the household budget and the business budget.