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Live Webinar

90-minute live streaming program
  • February 11
  • 1:00 - 2:30 pm EST

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Audio & Reference Manual

Understanding the Basics of Bookkeeping

February 11

Join us to understand the how and why of bookkeeping and how management can use the end result to change the world.

Many people in the financial world undervalue the importance of good bookkeeping. This information will provide a thorough review of basic bookkeeping techniques, tips and tricks. However, there is much more. We will take a deeper dive into the underlying purpose of bookkeeping and how bookkeeping is intended to reflect the reality of an organization’s financial position and activities. We will explore how good bookkeeping provides management with the data they need to make good decisions. Finally, we will go beyond simply entering transactions into a computer system and explore how to review the end result for accuracy, including reconciling key accounts and reviewing core financial statements and reports. Understand the how and why of bookkeeping and how management can use the end result to change the world.

Learning Objectives

  • You will be able to define the proper organization and layout of the chart of accounts.
  • You will be able to describe how to enter, maintain and balance transactions.
  • You will be able to discuss the purpose of bookkeeping and the intended result.
  • You will be able to explain how good bookkeeping helps organizations to make good decisions.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Start at the End, What Is the Purpose of Bookkeeping?
  • Reflecting Reality of the Organization's Financial Position and Activities
  • Creating a Complete and Accurate Set of Records
  • End Users and Decision Making to Change the World
The Chart of Accounts and General Ledger
  • The Chart of Accounts as the Foundation
  • Set up and Organization of the Chart of Accounts
  • Using an Appropriate Level of Detail
Recording Transactions in a Bookkeeping System
  • Quick Overview of Double Entry Bookkeeping
  • Quick Overview of Source Documents
    • Vendor Bills
    • Customer Invoices
    • Cash Receipts
  • Vendor Bills and Payments
    • A Look at Purchase Orders
  • Customer Invoices and Receipts
  • Other Payments and Receipts
  • When to Use Journal Entries
Reconciling Accounts
  • Bank Accounts
  • Accounts Receivable
  • Accounts Payable
Reporting, the End Result
  • Reviewing the Balance Sheet
  • Reviewing the Profit and Loss Statement
  • Other Reports
    • Aged Receivables and Payables
    • Inventory
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on December 13, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • CPE 1.8 including Finance 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Finance for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for accountants, presidents, vice presidents, business and office managers, finance directors, controllers, CFOs, lending professionals, credit managers and attorneys.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Bob Swetz, CPA (Inactive)

Bob Swetz, CPA (Inactive)

Tier One Services, LLC

  • Controller/Consultant at Tier One Services
  • Practice emphasizes providing a full range of outsourced accounting services from bookkeeper to CFO
  • Conducts regular seminars and workshops on numerous Microsoft® Office Products and QuickBooks®
  • Member of the American Institute of Certified Public Accountants and PA Institute of Certified Public Accountants
  • Former partner at Swetz & Herbert, CPAs
  • B.S. in accounting, Pennsylvania State University
  • Can be contacted at [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404963
Published 2016, 2019
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