Personal Bookkeeping and Accounting

Learn the basics of

Personal Bookkeeping and Accounting

This course will equip you with the necessary skills to understand the basic bookkeeping principles, to confidently manage your personal finances and the finances of a small business. You will obtain the knowledge and understanding of key accounting concepts and various finance processes to be able to manage your books from source documents through to creating and interpreting annual financial statements.

612K

Graduates

All levels

All levels

Certified

Certified

Course details

Course details

1.Introduction

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This lesson covers a brief overview of the history of accounting and bookkeeping through the eras then moving into the difference between bookkeeping and accounting as well as the how a typical day and month in the life of a bookkeeper could look. There is another history section looking at the double-entry system. The last topic covers the accounting frameworks that exist as well as the users and uses of financial statements. There is also a really fun section to help your understanding of how to apply bookkeeping principles to everyday life.

2.The Accounting Cycle

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Building on the concepts of the first lesson, we will move into exploring the accounting cycle, key processes that can be managed within the finance function as well as typical transactions that you could expect to see in various businesses. There is an interesting section with factors to consider when deciding to embark on opening your own business.

3.Building Blocks

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Lesson 3, although theoretical, is absolutely essential. It covers the key definitions that will be used and developed throughout the bookkeeping course. Another key concept that will covered is the definition and application of T-accounts. This is a fundamental lesson that gets you into the meat of bookkeeping and lays the foundation to make bookkeeping a breeze.

4.The Accounting Equation

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This lesson is where accounting meets algebra. Albeit not as technical we will look at the fundamental principle linked to the balance sheet being the accounting equation as well as practical ways to apply the equation. This lesson is quite practical and where the fun really begins as we will begin to capture basic transactions and practice the principles of the double-entry system using our debits and credits.

5.Cash Books and Cash Receipts

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This lesson looks at the first of many sub-ledgers that will be covered in the course, the cash receipts journal. We will cover the cash receipting cycle in depth to solidify your understanding of this process as well as the types of revenue that can be earned so this will definitely be a lesson for everyone.

6.Cash books and Cash Payments

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This lesson looks at the second of many sub-ledgers that will be covered in the course, the cash payments journal. We will cover the cash payments cycle in depth to solidify your understanding of this process as well as the types of payments that can be made. This is also a very practical lesson so be sure to bring your "calculators".

7.General Ledger and Trial Balance - part 1

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Being the penultimate lesson, we begin to bring all the concepts learnt in the previous lessons to see the bigger picture. We will cover the last few steps of the accounting cycle and begin to create a general ledger using the practicals from the previous lessons. We will look at financial periods and cycles so you can get a sense of the how finance works in practice and end off with a brief look at the theory of a trial balance.

8.General Ledger and Trial Balance - part 2

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This is the culmination of all the concepts of the lessons in module 1 and entails an in-depth look at the general ledger and using it as a basis for the preparation of a trial balance. There will be a fun practical to apply your skills from start to finish and firmly cement the steps of the accounting cycle in your library of bookkeeping knowledge.

Certified by
apsu
Globally recognised by
cpd