BOOKKEEPING LEVEL 2
This course will provide the student with knowledge of advanced bookkeeping procedures and theory. It is advisable that the student should have completed Bookkeeping Level 1 or have had at least 1 year business experience as a bookkeeper before attending Bookkeeping Level 2.
Full Details Below
SCS Training Centre is offering our hands-on Bookkeeping Level 2 seminar commencing on January 13/2020 6:30-9:00 p.m. for 8 sessions.
Please call us at 905-628-3208 or visit our website at: http://www.scstrainingcentre.com
Payroll Procedures: Employee’s Perspective
- Calculating Gross Pay, Routine Deductions and Net pay
- Recording and Preparing a typical payroll
- Preparing a company’s payroll summary
- Maintaining an individual’s earnings record
The Employer’s Tax Responsibilities
- How to calculate and record the employer’s expenses associated with payroll
- How employers’ remit and record their employees’ deduction to CRA.
- Employers’ annual responsibilities for filing T4 summary form.
Special journals with taxes: Merchandising Company (Sales)
- Recording sales that include Taxes
- Creating, recording and posting a credit memorandum
- Recording cash receipts
- Preparing schedules of Accounts Recievable
Special journal with taxes: Merchandising Company (Purchases)
- Recording purchases that include taxes
- Creating, recording and posting a debit memorandum
- Recording payments Receipts
- Preparing Schedules of Accounts Payable
Recording of Adjustments and completing a worksheet for a merchandising company (Periodic Inventory System)
- Beginning and Ending Merchandise Inventory
- Cost of Goods Sold
Completion of the Accounting Cycle for a Merchandising Company
- Preparing Financial Statements for a merchandising company
- Recording adjusting and closing entries
- Preparing a post-closing trial balance
- Dealing with reversing entries
Accounting for Bad Debts:
- Writing off an accounts as uncollectible
- Estimating Bad Debts using two approaches
Accounting for Property, Plants, Equipment and intangible Assets
- Calculating the cost of an asset
- Calculating amortization using one of the four methods
- Calculating amortization for tax purposes using capital cost allowances
- The difference between Capital Expenditures and Revenue expenditures
- Journalizing entries for discarding, selling, or exchanging plant assets.