A truly hands on experience! This workshop is perfect for those who want a better understanding of what basic bookeeping entails. There will be real life bookeeping simulations and activities to ensure that participants have a fun, but educational real life bookkeeping experience!
By the end of this workshop, participants will be able to:
· Understand basic accounting terminology.
· Identify the differences between the cash and accrual accounting methods.
· Keep track of your business by becoming familiar with accounts payable and accounts receivable.
· Use a journal and general ledger to document business financials.
· Utilize the balance sheet.
· Identify different types of financial statements.
· Uncover the reasons for and actually create a budget. · Be familiar with internal and external auditing.
Module One: Introduction.
Module Two: Basic Terminology (I)
Cost of Goods Sold.
Module Three: Basic Terminology (II)
Module Four: Accounting Methods.
Differences between Cash and Accrual
Module Five: Keeping Track of Your Business.
The General Ledger.
Module Six: Understanding the Balance Sheet.
The Accounting Equation.
Types of Assets.
Types of Liabilities.
Module Seven: Other Financial Statements.
Cash Flow Statement
Budget vs. Actual
Module Eight: Putting It All Together.
Hands on Application of Concepts learned. Participants will particpate in a real life bookkeeping simulation in which they will record transactions, and prepare financial statements for a business using actual source documents provided.
Module Nine: Wrapping Up.