What I will learn?

• Introduction to Bookkeeping: This module covers the basics of bookkeeping, including terminology, understanding balance sheets, income statements, revenue, costs of goods sold, expenses, accounts receivable and payable, and trial balance.
• Accounting Method Concepts and Standards: It delves into accounting concepts, the accounting framework, business entity concept, the equation of assets, liabilities, and capital, and various accounting principles like the money measurement, cost, accrual, conservatism, materiality concepts, and accounting standards.
• Keeping Track of Your Business: This module focuses on practical aspects like managing accounts payable and receivable, understanding journals and ledgers, cash management, and distinguishing between journals and ledgers.
• Understanding the Balance Sheet: It teaches how to create and prepare a balance sheet, analyze it, and understand various ratios like the current ratio, quick ratio, and the concept of working capital.
• Financial Statements: This part covers working capital, initial investments, cash, receivables, sources of funds, statements of changes in working capital, fund flow statements, the importance of cash, and preparing cash flow statements.
• Payroll Accounting Terminology: It introduces payroll accounting, explaining gross and net wages, tax withholdings, employer tax expenses, tracking accrued leave, and government payroll reports.
• End of Period Procedures: This module deals with the closing procedures of an accounting period, including asset depreciation, cash and investment reconciliation, and working with the trial balance.
• Financial Planning, Budgeting, and Control: Focuses on financial planning, budgeting, budgetary control, installing a budgetary control system, organization for budgeting, and different types of budgets like cash and master budgets, and the distinction between fixed and flexible budgets.
• Auditing: This final module introduces auditing, covering both internal and external audits, and the purpose and process of an audit.