Bookkeeping 1 Basics

Course Description

Learn bookkeeping basics, including bookkeeping terminology and methodology, that will form a foundation for any financial training you undertake. Through lecture you will be introduced to the concepts and through hands-on practice those concepts will be reinforced. In this course you will take everyday transactions, record them using the manual process, and then create financial statements. This course covers all cascading and non-cascading sales taxes (DST, GST, HST, LST, PST, QST & RST). Build a strong foundation in preparation for computerized accounting such as QuickBooks. This is a valid course for Canadian Payroll Association PCP certification. A modified fee is available for students who have taken this course in the last two years.

This is a concentrated and robust learning experience complete with extensive in-class exercises.

Participant Outcomes

Upon successful completion of this course, you will be able to:

• Identify, evaluate, record and post business transactions
• Prove the accuracy of the posting process by preparation of a trial balance
• Become familiar with aspects of accounting that add accuracy to financial information (year-end entries)
• Prepare financial statements (balance sheets and income statements)

Course Content

This course guides you through everyday transactions so that you are able to take financial documents and record them in your books and records to a trial balance stage.

Topics

1. The balance sheet
2. Analyzing transactions
3. Recording transactions
4. Transactions affecting profit
5. GST and Subsidiary Ledgers
6. Payroll and bank reconciliations