In smaller organizations, bookkeepers are often tasked with managing a broad range of accounting activities, from payroll to financial statement issuance, posing a significant challenge due to the diverse knowledge required. The Comprehensive Bookkeeping Guidebook addresses this problem by offering a detailed overview of all aspects of the bookkeeping role. It examines the issue of overwhelming responsibilities by emphasizing the necessity of understanding various accounting principles and procedures. Part one of this CPE class dives into the general system of accounting, while the second part focuses on specific functional areas. Participants will gain practical skills in handling everything from billings and payroll to income tax reporting, transforming them into versatile, capable bookkeepers capable of handling the comprehensive demands of their role.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Cite the responsibilities of the bookkeeper
Chapter 2
Recognize the underlying principles of accounting, and the nature of the accounting cycle.
Chapter 3
Identify the situations in which different chart of account structures should be used, and the issues relating to the reduction of the chart of accounts.
Chapter 4
Specify the types of subsidiary ledgers, and the uses to which the trial balance can be put.
Chapter 5
Recognize the steps involved in closing the books and reviewing the financial statements.
Chapter 6
Identify the different formats in which the financial statements can be presented, and the accounts used in each of the statements.
Chapter 7
Identify ratios that can be used to interpret the information in the financial statements.
Chapter 8
Cite the controls used in the processing of billings, cash receipts, payables, expense reports, petty cash, and payroll.
Chapter 9
Specify the documents used in the processing of credit requests, billings, and communications with customers.
Chapter 10
State the responsibilities of the parties involved in cash processing, and the causes of errors in that processing.
Chapter 11
Identify the situations in which procurement card billings can be called into question, and the types of reimbursements allowed on an expense report.
Cite the reimbursement rules related to expense reports.
Describe the elements of a petty cash system.
Chapter 12
Recognize the types of inventory tracking systems, and the methods available for estimating the cost of ending inventory.
Chapter 13
Cite the key concepts relating to the calculation of depreciation, as well as the methods of depreciation.
Describe the depreciation rules related to land.
Chapter 14
Identify the causes of a loan balance difference in the records of the borrower and lender.
Chapter 15
Recognize the government forms associated with payroll activities.
Specify the methods for calculating gross pay and determining income tax withholdings.
Recognize the accounting for payroll transactions.
Chapter 16
Recognize the timing of payroll tax deposits, and the penalties applicable to late payments.
Describe how the FUTA tax is calculated.
Chapter 17
Cite the forms used by the different types of businesses to report their income tax liabilities.
Describe the loss recognition by partners in a partnership.
Major Topics
Bookkeeper Position
Bookkeeping Basics
Chart of Accounts
Ledger Concept
Closing Books
Financial Statements
Interpretation of Financial Statements
Bookkeeping Controls
Sales and Collection Activities
Cash Processing
Payables Processing
Inventory Accounting
Fixed Assets and Depreciation
Debt Accounting
payroll Activities
Payroll Taxes
Income Tax Filings
