Welcome to Basic Bookkeeping. Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses, license plates, phones, prices, and money! Numbers connect us all to each other in many more ways than we might imagine.
Essentially, our world revolves around numbers. Some of us enjoy dealing with numbers, while others may have a fear of them or even a phobia. For those of you who have already recognised and appreciated the impact that numbers actually have on just about everything, you deserve a cookie.
Basic Bookkeeping Course Objectives
Research has consistently demonstrated that learning occurs more easily and rapidly when clear goals are associated with learning. With this in mind, let’s review our goals for today.
By the end of this course, you 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 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 this and create a budget.
- Be familiar with internal and external auditing.