BOOKKEEPING LEVEL 1

$600.00

This course will provide the student with a knowledge of basic bookkeeping procedures and theory. It serves as the basis for more advanced studies in bookkeeping or for a better understanding of related concepts in other areas of business specialization.
There is no prerequisite required for Bookkeeping Level 1.

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SCS Training Centre is offering our hands-on Bookkeeping Level 1 seminar commencing on September 30/2019 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 to get more information about our seminars.

Description

Copy of YC2U6679[1]

SCS Training Centre is offering our hands-on Bookkeeping Level 1 seminar commencing on September 30/2019 6:30-9:00 p.m. for 8 sessions.

There is no prerequisite required for Bookkeeping Level

You will learn the Basic Fundamentals of the Accounting Equation, the Accounting Equation Expanded

  • The Accounting Equation – Assets, Liabilities and Owner’s Equity
  • The Accounting Equation Expanded – Revenue, Expenses, and Withdrawals 

You will learn to do the steps of the Accounting Cycle up to “Post Closing Trial Balance.”
This will include closing off the current fiscal year-end’s temporary accounts to begin your next fiscal year with permanent accounts. View Product

You will learn to prepare Financial Statements from the Worksheet: Income Statement, Statement of Owner’s Equity and Balance Sheet

Steps of the Accounting Cycle (Manual): 

  1. Analyzing Business Transactions
  2. Recording Business Transactions – Journalizing
  3. Posting to the Ledger
  4. Preparing a Trial Balance
  5. Preparing a Worksheet  (Adjustments using Accrual Basis Accounting, Adjusted Trial Balance, Income Statement, and Balance Sheet)  
  6. Preparing Financial Statements (Income Statement, Statement of Owner’s Equity and Balance Sheet) from the Worksheet

The Accounting Cycle Completed (Manual)

  1. Journalizing and Posting Adjusting Entries
  2. Journalizing and Posting Closing Entries
  3. Post Closing Trial Balance

Special Journals (The Basics)

You will learn to record Sales and Receipts; Purchases and Payments using Sales Journals, Cash Receipts Journals, Purchase Journals, Cash Payments Journals and General Journal 

Sales Journals, Receipts and the Accounts Receivable Sub-Ledger

  1. Recording Sales, Sales Returns and Allowances, Sales Discounts, Receipts

Purchase Journals, Payments and the Accounts Payable Sub-Ledger: Periodic Inventory System

  1. Recording Purchases, Purchase Returns and Allowances, Purchase Discounts, Payments

Banking Procedures and Control of Cash

  1. Bank Procedures, Chequing Accounts, and Bank Reconciliation
  2. Establishing and replenishing a Petty Cash Fund