Bookkeeping Basics #2: Understand The Mechanics

After our first course, dig deeper into the actual "How" of recording bookkeeping activity.

Created by: Ron Trucks
Small Business Coach and College Instructor

What Will I Learn?

• Understand what "debits" and "credits" actually mean when it comes to bookkeeping and accounting
• Learn the Fundamental Accounting Equation and how it applies to bookkeeping
• How are transactions analyzed, recorded and posted
• What steps are needed for End-of-the-Month adjustment entries and End-of-the-Year closing entries
• What is depreciation? What are Prepaid Items? What is Accrued Payroll? How is Inventory booked?

Requirements

• As long as you know how to add and subtract (or can use a calculator!), you're ready to begin!

Target audience

• This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.