Bookkeeping - transactions to final accounts

Description

This course covers the basics of double-entry bookkeeping, taking you from posting individual transactions to preparing a simple set of financial statements.

If you are looking to start your own business then having a good idea of how to track your transactions, complete regular monthly checks, monitor sales and purchases and keep track of customers who owe you money and suppliers that you owe money to. The central ledger to most businesses is the cashbook and so this course spends time on how this is set up and transactions posted to it.

If you are looking to start formal accountancy studies this course will give a taster of what to expect and give you some of the basic knowledge which will ensure that you are prepared with a good grounding before you begin.

If you are already studying bookkeeping, this course will cover some of the areas which have often caused students problems. If there are areas you are struggling with as part of your studies, using different material which may explain things in a different way can help to overcome the barrier.

The topics covered include:

• Overview of key terminology

• Debits and credits

• Posting transactions to ledger accounts

• Balancing off ledger accounts

• Analysed cashbook

• Credit transactions

• Fixed assets and depreciation

• Stock

• Bank reconciliation

• Trial balance

• Suspense accounts

• Profit and loss account

• Balance sheet

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