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This course will be focused on applying many of the principles and concepts that we have reviewed in our Bookkeeping Certificate Series. By now, you should have completed the following courses in the Bookkeeping Basics Certificate Program:

  • Critical Accounting Terminology and Effective Execution of Concepts
  • Processes and Debits and Credits
  • Accrual vs. Cash Accounting
  • Payroll and Expenses Accounting
  • Formation of a Legal Entity and Chart of Accounts
  • Essential responsibilities on a daily, weekly, monthly and annual basis
  • Fixed Assets and Inventory
  • Utilizing Journals, Subsidiary Ledgers and the GL
  • Tools for Bookkeeping Certificate

This course will allow the participant to practice the many concepts reviewed in the above courses and apply them in a case study setting.

 

Learning Objectives

  • Explore concepts of bookkeeping through the question and answer of quiz questions related to the many concepts discussed in previous sessions.
  • Explore a bookkeeping scenario of a sole proprietor who starts a floral business using the cash basis of accounting.
    • Identify how to record entries relative to the business
    • Identify how to reconcile the cash account
    • Identify how to prepare the balance sheet and income statement
  • Explore an extended bookkeeping scenario based on certain facts in case one. This scenario will have the addition of a separate owner, apply accrual accounting aspects and introduce concepts of labor.
    • Identify how to record entries relative to the business
    • Identify how to reconcile the cash account
    • Identify how to prepare the balance sheet and income statement
Last updated/reviewed: December 25, 2019

Included In Certifications

This course is included in the following Certification Programs:

14 CoursesProfessional Bookkeeping Certification

  1. Bookkeeping Basics - Critical Accounting Terminology and Effective Execution of Concepts
  2. Bookkeeping Basics – Processes and Debits and Credits
  3. Bookkeeping Basics – Accrual vs. Cash Accounting
  4. Bookkeeping Basics – Payroll and Expenses
  5. Bookkeeping Basics – Formation of a Legal Entity and Establishing a Chart of Accounts
  6. Bookkeeping Basics – Utilizing Journals, Subsidiary Ledgers and the General Ledger
  7. Bookkeeping Basics – The Essential Responsibilities of the Bookkeeper on a Daily, Weekly, Monthly and Annual Basis
  8. Bookkeeping Basics – Fixed Assets and Inventory
  9. Bookkeeping Basics – Accounts Payable/Disbursements and Accounts Receivable/Receipts
  10. Management Internal Control Essentials
  11. GAAP Principles, Assumptions and Considerations
  12. GAAP Presentation of Financial Statements
  13. Bookkeeping Basics – Case Study Scenario
  14. Useful Bookkeeping Tools

3 Reviews (6 ratings)Reviews

5
Anonymous Author
This is a very good recap of the course in a quick and easy manner. Very informative and helpful. Was presented well
5
Member's Profile
Good review of all bookkeeping principles with scenarios covering a wide range of topics.
5
Member's Profile
This course provided a great review of all the bookkeeping knowledge

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
Introduction And Overview
  6:00Bookkeeping Case Study Introduction
  20:14Case Scenario
  10:38Case Scenario Continued
  2:34Financial Statements
  14:59Extended Scenario
  7:13Extended Scenario Continued
  1:23Summary
Continuous Play
  1:03:01Bookkeeping Basics- Case Study Scenario
Supporting Material
  PDFSlides: Bookkeeping Basics– Case Study Scenario
  PDFBookkeeping Basics– Case Study Scenario Glossary/Index
Review And Test
  quizREVIEW QUESTIONS
 examFINAL EXAM