Financial Accounting Level I (Basic Bookkeeping)

Program Overview:

This course will give you a thorough understanding and the skills required to become a Bookkeeper, focusing on the full accounting cycle (A = L + E) including recording transactions, debits and credits, analyzing transactions, journalizing, T-accounts, general ledger and sub ledgers, PAYROLL, bank reconciliation, Preparing Financial Statements (Trial Balance, Balance Sheet, Profit and Loss, Statement of Equity).

Program Content:

• What is Accounting and the Accounting Cycle?

• What is a Corporation

• Which financial method is used: ASPE or FRSE

• What is the Accounting Formula: Asset=Liability + Equity

• What is Full Cycle Accounting

• Debits / Credits (Normal Balances)

• Create Chart of Accounts: Asset, Liability, Equity, Revenue and Expense

• Learn to analyze and journalize transactions, Recognize a Payables and Receivables

• Post to general ledger accounts

• Adjusting entries

• Prepare Trial Balance

• Prepare financial statements such as P & L, Statement of Retained Earnings and Balance Sheet