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 identify transactions and source documents that create a bookkeeping entry.
- You will be able to differentiate between the end users and the benefits of the bookkeeping data.
- You will be able to differentiate between the Cash and Accrual methods of Accounting.
- You will be able to identify the importance of the Chart of Accounts.
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Why Lorman?
Over 37 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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Credit
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Why Lorman?
Over 37 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 Course
This course was last reviewed on November 15, 2023.
Call 1-866-352-9540 for further credit information.
CPE/NASBA - QAS Self Study 2.2 including Finance 2.2
- Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Finance for 2.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement 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.
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Why Lorman?
Over 37 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
Tier One Services, LLC
Bob Swetz, CPA (Inactive)
- 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]
Kadenia Williams-Javis, MBA, RTRP
Javis Financial Services LLC
- President/CEO of Javis Financial Services LLC, established in 1998
- Holds the designation as an authorized electronic provider and electronic return originator with the Internal Revenue Service
- Open year-round to provide services in accounting, payroll, bookkeeping, tax preparations, insurance, credit restoration, and notary services
- Former IRS employee
- M.B.A. degree, Strayer; B.S. degree, Limestone College
- Can be contacted at 803-419-1001 or [email protected]
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Why Lorman?
Over 37 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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