Bookkeeping Basics 1 Understand the Fundamentals

Learn bookkeeping terms and concepts to make owners, employees & students more confident and successful!
Bookkeeping Basics 1 Understand the Fundamentals
File Size :
2.52 GB
Total length :
4h 34m

Category

Instructor

Ron Trucks

Language

Last update

5/2023

Ratings

4.6/5

Bookkeeping Basics 1 Understand the Fundamentals

What you’ll learn

Understand the basics of bookkeeping helping business owners and managers feel more confident

Bookkeeping Basics 1 Understand the Fundamentals

Requirements

As long as you know how to add and subtract (or can use a calculator!), you’re ready to begin!

Description

As a business owner, entrepreneur, employee or student you may be great in your field but that doesn’t mean you’re strong in every area of running a business…A great chef may be incredible in the kitchen…An award-winning body builder can help the most out of shape person…A talented web designer or graphic artist may create unbelievable designs…But when it’s time to balance the checkbook or talk to the CPA at tax time, it feels like it’s a completely different language you’ve never learned!Using simple, easy-to-understand discussion, illustrations and note sheets, this 4.5 hour course with over 50 video lessons teaches you the basic building blocks of how money is tracked and what that means to your business or project.Everyday examples using common phrases and terms you already know allows the instructor to teach that “other language” and for you to feel more confident in working with vendors, customers, employees, investors, instructors and more!After completing the course, students will feel more confident and knowledgeable on topics such as…What is Income and how do you track it?Which types of Expenses can be claimed by your businessThe difference between Assets, Liabilities and EquityThe Five W’s of BookkeepingTransactions, The Fundamental Financial Equation and Charts of AccountsAccounts Receivables and Accounts PayablesReading Financial ReportsBusiness Odds and Ends such as Mileage Tracking, Credit Terms, Shipping and Freight, Trade DiscountsThe Top 10 Mistakes Small Businesses MakeThe Top 6 Tips for Good BookkeepingCPE (Continuing Professional Education)CPE Learning ObjectivesRecognize the difference and the importance of tracking personal finances separately from business finances.Identify the primary four types of business structures in the United States.Define “transaction” as it is used by non-accounting professionals in the small business world.Differentiate between revenue and other types of funds received by a business.Explain the difference between Cost of Goods Sold (COGS) and other types of small business expenses (overhead).Explain the differences between Assets, Liabilities, and Equity.Identify the difference between Accounts Receivable and Accounts Payable.State the different information included in Income Statements, Balance Sheets, and A/P & A/R Aging reports.List common mistakes small business make in bookkeeping activities.For additional information, including refunds and complaints, please see Udemy Terms of Use, which is linked from the footer of this page.For more information regarding administrative policies, please contact our support using the Help and Support link at the bottom of this page.

Overview

Section 1: Course Introduction

Lecture 1 Introduction – Course Overview

Lecture 2 Introductions and Off-Course Resources

Lecture 3 Even If You’re Not A Business Owner

Lecture 4 Tips for the Experience

Section 2: Money and Its Relationship to Business

Lecture 5 Business vs. Personal

Lecture 6 Why Worry About The Money?

Lecture 7 What Kind of Business Are YOU?

Lecture 8 The Four Business Types

Section 3: Let’s Understand What We’re Talking About

Lecture 9 What and Why…

Lecture 10 Who…

Lecture 11 When and Where…

Lecture 12 Consistency Is The Key

Section 4: The Tools

Lecture 13 Section Intro

Lecture 14 Transactions

Lecture 15 The Big Equation… A = L + E

Lecture 16 Accounts and the Chart of Accounts

Lecture 17 Sample Charts of Accounts

Section 5: Here Comes The Money – Income/Revenue

Lecture 18 How Are You Actually Making Money?

Lecture 19 Invoices, Receipts & Statements… Oh, My!

Lecture 20 If You ARE Invoicing…

Lecture 21 Invoice Samples

Lecture 22 Not All Money Coming In Is Income…

Section 6: There Goes The Money – Expenses

Lecture 23 What Are Expenses?

Lecture 24 What Does It Cost To Make (or Acquire) The Product? – COGS

Lecture 25 Organizing the Expenses

Lecture 26 The Stamp

Section 7: The Other Big Three

Lecture 27 Section Intro

Lecture 28 It’s Just “Stuff” – Assets

Lecture 29 Can You Break A $100 Bill? – Asset Shift

Lecture 30 The Company Owes WHAT? – Liabilities

Lecture 31 But What’s Really MINE? – Equity

Section 8: Who Owes Whom?

Lecture 32 Put It On My Tab – Accounts Payable

Lecture 33 You Want To Pay When? – Accounts Receivable

Lecture 34 What If They Don’t Pay?

Section 9: For The Record Books

Lecture 35 How Are You Doing and How Do You Know?

Lecture 36 Cash Reporting versus Accrual Reporting

Lecture 37 Am I Making Any Money? – P&L Report

Lecture 38 Where Do I Stand Right Now? – The Balance Sheet

Lecture 39 Am I Worth Anything? – The Owner’s Equity Reports

Lecture 40 What’s Owed To Me and By Me – The A/P and A/R Reports

Section 10: Odds and Ends

Lecture 41 Section Intro

Lecture 42 Mileage Tracking

Lecture 43 Terms / Cash Discounts

Lecture 44 Trade Discounts

Lecture 45 Shipping & Freight

Lecture 46 Good Record Keeping

Lecture 47 Top 10 Mistakes Small Businesses Make

Lecture 48 Top 6 Tips For Good Bookkeeping

Section 11: So Now What?

Lecture 49 Can I Get Some Help? and Our Course Recap

Lecture 50 BONUS: Your Certificate and What Comes Next?

This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.,A stronger grasp of these basics concepts helps every area of business from communicating with their CPA’s/tax advisors to making better decisions for the company and employees; to students learning to communicate with their instructors.

Course Information:

Udemy | English | 4h 34m | 2.52 GB
Created by: Ron Trucks

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