Bookkeeping and Accounting Essentials I

This introductory course is the first course in the Bookkeeping Essentials sequence and provides an overview of the essential skills needed to be a successful bookkeeper. The course is ideal for bookkeepers and accountants who are early in their career or for individuals considering a career transition, Students learn the principles of double-entry bookkeeping, the basics of preparing financial statements, and how to analyze business transactions from an accounting standpoint. Topics include recording entries in a general ledger, preparing end-of-period worksheets and financial statements, and adjusting and closing entries accounting. Additional topics include accounting for cash, preparing bank a reconciliation, a general overview of payroll accounting, employee earnings and deductions, employer taxes and reporting, using the payroll register and journal entries, accounting for sales, cash receipts, purchases, cash payments and accounting for merchandise inventory using weighted average, FIFO, and LIFO methods.