BOOKKEEPING TRAINING CLASSES
BOOKKEEPING TRAINING CLASSES ONLINE
- Learn industry recommended bookkeeping best practices.
- Receive training from a bookkeeping professional with 30+ years of experience.
- Four ways to learn: public class, webinar, self-study, or on-site training.
- Public class and webinar limited to four students for maximum learning.
- Certificate issued on completion.
- Cost: One-day class $649.00
- Available discounts
What will I learn in the Bookkeeping Training Course?
What is Bookkeeping?
In the Bookkeeping Training Course, you will learn how to record a company’s financial transactions to enable the company to track all information on its books to make key operating, investing, and financing decisions.
When you first get started in business, you may hear the terms bookkeeping and accounting thrown around almost interchangeably. However, these terms do not mean the same thing. Small businesses have both bookkeeping and accounting functions.
Bookkeeping is the process of recording and maintaining the record of all financial transactions of a company. Bookkeepers record the company’s sales, expenses, and cash/bank transactions in journals (the company’s books).
The accounting function prepares a record of the financial affairs of the company. Accounting also includes the interpretation of the bookkeeper’s numbers to determine the firm’s financial health. It also consists of the presentation and financial health and control functions of the company through various statements.
In most businesses, the bookkeeper operates under the accountant. In small businesses, the accountant may be the owner or Chief Financial Officer (CFO), or the accounting function may be outsourced.
A big part of understanding the bookkeeping of a business consists of nothing more than learning the language. In Module One, you will learn the basic terms; you will then be well prepared to make sense of basic written reports, communicate with others about important financial information, and cope with a common business problem: imprecise or even wrong use of financial terminology.
In Module Two, you will learn about the two accounting methods:
The cash method is the more commonly used method of accounting in small businesses. Under the cash method, you will learn that income is not counted until cash (or a check) is received, and expenses are not counted until paid.
Under the accrual method, you will learn income is counted when the sale occurs, and expenses are counted when you receive the goods or services.
Keeping Track of the Business
In Module Three, you will learn about accounts payable, accounts receivable, the journal, and the general ledger.
You will learn this type of record is used to keep track of debts owed by a business to creditors for purchased goods or services on an open account. Though the business will likely be billed regularly by its creditors for the balance on the account, having your records will allow the business to be aware of its financial standing with the creditors at any given time.
You will learn this type of record is used to keep track of money owed to a business. Such money can come from extending credit to a customer who purchases the business’s products or services. The best way to keep track of these records is to set up a separate accounts receivable record for each customer.
You will learn the journal is the way to keep track of all inputted information or data concerning a business to allow the books to be properly balanced.
The General Ledger
You will learn the general ledger is a record of all the accounts of a business. Each account is recorded on separate sheets in a book or binder. In total, it is called the general ledger and is considered a permanent, classified record for each business account.
Understanding the Balance Sheet
In Module Four, you will learn the balance sheet will help provide balance to your business. It helps keep everything organized and on point.
A balance sheet is a financial statement that shows the assets, liabilities, and owner’s equity at a specific point in time. Assets and liabilities are usually listed first, followed by equity, which is the difference between the assets and the liabilities. The balance sheet will ultimately provide a snapshot of the company’s current financial condition.
You will learn the accounting equation, double-entry accounting, types of assets, liabilities, and equity.
In Module Five, you will learn about the income statement, cash flow statement, capital statement, and budget versus actual. These terms all involve money or the use of money in some form. When we are finished, you will better understand how these methods will help your business run more efficiently.
Income or Profit and Loss Statement
You will learn an income statement is a financial statement that summarizes the amounts of revenue earned and the expenses incurred by a business or entity over a period, which measures the financial performance of a business. This statement summarizes how a business typically incurs its revenues and expenses over a fiscal quarter or year. Statement of Revenue and Expense is also a term used for the income statement.
Cash Flow Statement
You will learn the Cash Flow Statement is a part of four statements, which also include: Balance Sheet, Income Statement, and Statement of Retained Earnings. The cash flow statement shows the cash flow within the business, where that money came from, and how that money may have been spent during a certain period. This statement can prove very important because it allows the company’s cash flow to be tracked from its origin by indicating which types of transactions help create cash flow.
You will learn Owners’ Equity is the net worth of a company. It shows the business’s value breakdown if not publicly traded and the par value of common and preferred stock and retained earnings of publicly traded companies. The value of stock shows how much of the company’s current value is in shareholders’ hands.
Retained earnings are the accumulation of net income retained by the company over time and show what the company currently holds for possible reinvestment or other financial purposes. The statement shows the change from beginning equity to ending equity.
You will learn the Capital Statement is a statement concerned with or keeps track of the items that will last for longer than one year, like the company’s long-term assets (e.g., buildings).
The Capital Statement’s major duty includes keeping track of the owner’s account prior to the current and ending balances. It also serves as a connector between the income statement and the balance sheet. Capital Statements are usually checked monthly or annually.
Budget vs. Actual
You will learn the primary purposes of a budget are to plan for the future and control a company’s long-term operations and spending. The budget may be adjusted if needed or changed since the budget was created. Past financial statements are often used when creating a budget. These allow one to see what has worked in the past and what has not.
In Module Six, you will learn the many terms that involve dealing with your business’s financial aspects. We will also be discussing the accounting methods and terms used about your employees by going over the following terms: gross wages, net wages, employee tax withholdings, employer tax expenses, salary deferrals, employee payroll, employee benefits, tracking accrued leave, and government payroll returns and reports.
End of Period Procedures
In Module Seven, you will learn some basic knowledge about depreciating your assets, reconciling cash, reconciling investments, working with the trial balance, bad debt, as well as posting adjustments and corrections.
In the Cash Management Training Course, you will learn best practices to manage your firm’s working capital (cash available for day-to-day operations) to improve the firm’s liquidity position, financial health, and reduce risk to allow management to take advantage of unexpected opportunities, and to qualify for bank loans and favorable trade credit terms.
In the Certified Treasury Professional © Training Program, students will learn the process of creating and governing the policies and procedures managing the cash, investments, and other financial assets of a business to optimize current and medium-term liquidity and make solid financial decisions involving invested and investable assets that ensure the company manages financial risk successfully to maximize owner’s or shareholder’s wealth.
In the Cost Accounting Training Course, you will learn the accounting process used for the recording, classifying, analyzing, summarizing, allocating, and evaluating all key costs, including inventory valuation, job costing, production process costing, standard costing, and fixed costs such overhead and depreciation of capital equipment, to enable management to consider various alternative courses of action and control of costs based on cost efficiency and company capability.
Print 🖨 PDF 📄 CPA CONTINUING PROFESSIONAL EDUCATION (CPE) CREDITS Learn in-person or online accounting/treasury best practices and earn CPE credits in one to five-day CPA continuing education classes. The Academy of Business Training, sponsor number CPE.00469, provides Continuing Professional Education (CPE) credits to meet the continuing education requirement for Certified Public Accountants. We comply with the Standards for Continuing
in the Financial Management Training Course, you will learn the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations through effective planning, directing, controlling, and administering of the monetary resources of an organization.
In the Financial Risk Management Training Course, you will learn industry best practices for preserving the economic value of a firm by using financial instruments to identify and analyze areas of potential risk threatening the assets, earning capacity, or success of a business. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and creating a plan to address it.
In the QuickBooks Training Course, you will learn all the skills needed to use the software properly to manage transactions and finances for your business. QuickBooks is an accounting software program created by Intuit for small businesses and self-employed professionals. This class will instruct you on how to keep track of your company’s transactions and finances – all from a single, intuitive, and easy-to-use software program.
In the Treasury Management Training Course, you will learn the management of an enterprise’s holdings, with the ultimate goal of managing the firm’s liquidity and mitigating its operational, financial, and reputational risk. You will also learn how to manage a firm’s collections, disbursements, concentration, investment, and funding activities to include trading in bonds, currencies, financial derivatives, and the associated financial risk management.
In the Working Capital Management Training Course, you will learn best practices to manage their firm’s working capital (cash available for day-to-day operations) to improve the firm’s liquidity position, financial health, and reduce risk to allow management to take advantage of unexpected opportunities, and to qualify for bank loans and favorable trade credit terms.