Show navigation

Available in:

OnDemand Webinar
Audio & Reference Manual

Understanding the Basics of Bookkeeping

Walk away with a better understanding of the fundamentals and basics of bookkeeping. Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, accounts receivable, accounts payable, income statement, and balance sheet. You will become familiar with accounting debits and credits as I show you how to record transactions. You will also see how the reconciliation of all balance sheet accounts will determine the accuracy of the profit & loss statement. In this explanation of bookkeeping basics, I will often omit some accounting details and complexities in order to present clear and concise explanations. This means that you should always seek professional advice for your specific circumstances.


Runtime: 89 minutes
Purchase Options

More Program Information

Why Lorman?

Over 31 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

Chart of Accounts

  • What Is a Chart of Accounts
  • How Many Accounts Are Necessary
  • Types of Accounts

Understanding Debits and Credits

  • Which Accounts Are Debits
  • Which Accounts Are Credits

Balance Sheet

  • How Important Is the Balance Sheet?
  • What Is a Balance Sheet?
  • How Do I Use the Balance Sheet?

Profit and Loss Statement

  • What Is a Profit and Loss Statement?
  • How Do I Use the Profit and Loss Statement?

Cash Basis vs. Accrual Basis

  • Meaning of Cash Basis
  • Meaning of Accrual Basis

Accounts Receivable

  • What Is Accounts Receivable?
  • How and When Is This Used?

Accounts Payable

  • What Is Accounts Payable?
  • How and When Is This Used?
Purchase Options

More Program Information

Why Lorman?

Over 31 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.

Audio & Reference Manual

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

Purchase Options

More Program Information

Why Lorman?

Over 31 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

Sharon E. Moulder

Sharon E. Moulder

Lightheart | Sanders Certified Public Accountants

  • Manager in the Accounting & Consulting Department of Lightheart | Sanders
  • Has been in the bookkeeping business for 34 years; most of that time was spent working for CPA firms working with different types of businesses, consulting and setting up bookkeeping systems
  • Feels that proper and accurate bookkeeping is the most important part of running a business; she likes to help business owners with this process to give them peace of mind
  • Manager of the Bookkeeping Department for 14 years
  • Career has led her to many different types of businesses; helps business owners determine the proper bookkeeping procedures for their business type; assists them with payroll, sales tax, bookkeeping and consult with them on problems within the business
  • Since the bookkeeping is the most important part of Income Tax Return preparation, she assists the client making sure the books are set up and completed properly to assure an accurate Income Tax Return
  • Has hired and trained bookkeepers within the CPA firm to work with various types of businesses
  • Speaks to groups such as Chamber of Commerce, Lunch & Learns for our firm, Rotary Club and Realtor Associations
  • QuickBooks® ProAdvisor for 11 years
  • Madison County Chamber of Commerce (board member for 6 years, president for 1 year); voted one of 50 Leading Business Women of Mississippi; Madison Countians Allied Against Poverty (board member for 8 years, treasurer); Aunt Joyce’s Kids (board member); Madison/Ridgeland Rotary Club (member) and graduate of Leadership Madison County
  • Can be contacted at 601-898-2727 or [email protected]
Purchase Options

More Program Information

Why Lorman?

Over 31 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 399518
Published 2016
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!