Basic Bookkeeping
Research has consistently demonstrated that when clear goals are associated with learning, the learning occurs more easily and rapidly. With this in mind, let’s review our goals for today. By the end of this Course, participants will be able to: • Understand basic accounting terminology. • Identify the differences between the cash and accrual accounting methods. • Keep track of your business by becoming familiar with accounts payable and accounts receivable. • Use a journal and general ledger to document business financials. • Utilize the balance sheet. • Identify different types of financial statements. • Uncover the reasons for and actually create a budget. • Be familiar with internal and external auditing.
