Professional Bookkeeper: Advancing Your Account-Ability (Module 3)
Establishing a Bookkeeping System Year-End Closing Cash vs. Accrual Accounting Practical Application of Double Entry Accounting System for: Dealership Art and Frame Shop
Establishing a Bookkeeping System Year-End Closing Cash vs. Accrual Accounting Practical Application of Double Entry Accounting System for: Dealership Art and Frame Shop
Course Category: Accounting
$785.00
Module III - Advancing Your Accountability
Establishing a Bookkeeping System
Year-End Closing
Cash vs. Accrual Accounting
Practical Application of Double Entry Accounting System for:
- Dealership
- Art and Frame Shop
- Manufacturer
- Construction
- Non-Profit
Advancing Your Accountability
Purpose: To help you set up a complete bookkeeping system, and manage clients from a variety of more sophisticated industries for your new accounting and bookkeeping business. Average time to Complete: 20 Hours
Sessions 1-2 — Dealerships: Complicated Accounting
How to effectively handle Flooring — the necessary evil of high-cost retailers
Accounting for creative selling
Understand additional sources of income that dealers have, that earn you profits, whether you are the dealer or the customer
CASE STUDY: Discover how dealerships account for large transactions by completing the accounting for a motorcycle dealership (City Cycle Company)
Sessions 3-4 — Establish the Accounting Method that Fits the Business Best
The very first two things you must do when accounting for a company
Set up an efficient system from ‘scratch’
How to establish an organized system that will ensure your value as an accountant
Choosing between the cash and accrual methods
How to set up a hybrid system that will reap the benefits of both methods
CASE STUDY: Convert Sonja’s Art and Frame from the cash basis to the accrual basis in 3 easy steps
How to get that iron-clad feeling — without a shadow of a doubt — that your financial’s are right
Identifying, customizing, and instituting effective auditing techniques
Learn how to spot and avoid dangerous trends
How to save the company thousands of dollars in auditing costs
Sessions 5-6 — Year-End Closings and Manufacturing
6 final adjustments that should be considered at year-end
Resetting the financial score
EXERCISE: Prepare the final adjusting entries and close out the general ledger for a company
How to set up and run an efficient accounting system for the small ‘mom and pop’ manufacturing company
The simplifying trick to Process Accounting — “SPECs”
How to price manufactured goods
CASE STUDY: Calculate the manufacturing costs for three months for the Widget Manufacturing Company
Sessions 7-8 — Construction and Non-Profit Accounting
Job Costing – A simple way to track costs by the project
3 construction computations that you must know
Tracking revenues and costs by month
One step that you must never forget
CASE STUDY: Perform the accounting for CR Construction
Accounting for a non-profit organization
CASE STUDY: Perform the accounting for Now Moreland Church
Course curriculum
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Introduction (M3 S0)
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Introduction and Index (M3 S0 T0)
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City Cycle – Inventory Financed Business – Flooring (M3 S1 T1)
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City Cycle Company (M3 S1 T1)
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City Cycle – Motorcycle Sales Transaction (M3 S1 T2)
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City Cycle Company – Motorcycle Sales Transaction (M3 S1 T2)
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Learning Activity: City Cycle Company
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City Cycle – Bookkeeping Process Review (M3 S1 T3)
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City Cycle Company – Bookkeeping Process Review (M3 S1 T3)
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City Cycle Company – Bookkeeping Process Review Answers (M3 S1 T3)
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Introduction to Auditing (M3 S2 T1)
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Introduction to Auditing (M3 S2 T1)
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Internal Auditing – Step 1 (M3 S2 T2)
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Internal Auditing – Step 1 (M3 S2 T2)
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Reconciling Inventory (M3 S2 T3)
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Reconciling Inventory (M3 S2 T3)
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Reconciling Inventory Answers (M3 S2 T3)
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Auditing Fixed Assets (M3 S2 T4)
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Fixed Assets (M3 S2 T4)
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Disposing of Fixed Assets – Part 1 (M3 S2 T5)
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Fixed Assets Disposal (M3 S2 T5)
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Fixed Assets Disposal Answers (M3 S2 T5)
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Disposing of Fixed Assets – Part 2 (M3 S2 T6)
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Disposing of Fixed Assets – Part 3 (M3 S2 T7)
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Disposing of Fixed Assets – Part 4 (M3 S2 T8)
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Disposing of Fixed Assets – Part 5 (M3 S2 T9)
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Disposing of Fixed Assets – Part 6 (M3 S2 T10)
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Inventory Stock Card (M3 S2 T10)
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Auditing Liabilities (M3 S2 T11)
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Internal Auditing – Step 2 (M3 S2 T12)
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Internal Auditing – Step 3 (M3 S2 T13)
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Session 2 Review (M3 S2 T14)
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City Cycle Company Learning Activity Submission
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Setting Up the Books (M3 S3 T1)
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Replacing an Accountant (M3 S3 T2)
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Setting up the Books (M3 S3 T2)
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Setting Up a New Business (M3 S3 T3)
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Setting Up an Existing Company (M3 S3 T4)
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Setting up Existing Company (M3 S3 T4)
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Session 3 Review (M3 S3 T5)
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Introduction to Cash Accounting (M3 S4 T1)
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Introduction to Cash Accounting (M3 S4 T1)
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Sonja’s Art and Frame – Introduction (M3 S4 T2)
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Learning Activity: Sonja’s Art and Frame Shop
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Sonja’s Art and Frame (M3 S4 T2)
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The Daily Cash Report (M3 S4 T3)
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The Daily Cash Report (M3 S4 T3)
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Completing the Cash Method (M3 S4 T4)
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Sonja’s Art and Frame – Completing the Cash Method (M3 S4 T4)
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The Client Organizer (M3 S4 T5)
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The Client Organizer (M3 S4 T5)
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Sonja’s Art and Frame – Making the Conversion Entry (M3 S4 T6)
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Making the Conversion Entry (M3 S4 T6)
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Making the Conversion Entry Answers (M3 S4 T6)
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Sonja’s Art and Frame – Analyzing Conversion Results (M3 S4 T7)
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Outline (M3 S4 T7)
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Session 4 Review (M3 S4 T8)
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Sonja’s Art and Frame Learning Activity Submission
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Fiscal Versus Calendar Year (M3 S5 T1)
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Learning Activity: Year-end Closing (13th Month)
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Year End Adjustments (M3 S5 T2)
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Year End Adjustments (M3 S5 T2)
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Year End Adjustments Answers (M3 S5 T2)
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Inventory Valuation Methods Part 1 (M3 S5 T3)
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Inventory Valuation Methods Part 2 (M3 S5 T4)
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Company Bonuses (M3 S5 T5)
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Adjust Depreciation (M3 S5 T6)
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Estimated Income Tax (M3 S5 T7)
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Memo 12-Month Earnings (M3 S5 T8)
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Year-End Closing Entry (M3 S5 T9)
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T-Notes (M3 S5 T9)
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Session 5 Review (M3 S5 T10)
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Year-end Closing Learning Activity Submission
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Manufacturing Inventories (M3 S6 T1)
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Manufacturing Inventories (M3 S6 T1)
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Manufacturing Example of Transaction Flow (M3 S6 T2)
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Manufacturing Example of Transaction Flow (M3 S6 T2)
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Learning Activity: Manufacturing Accounting
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Manufacturing Example of Transaction Flow Learning Activity (M3 S6 T2)
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Manufacturing Example of Transaction Flow Learning Activity Answers (M3 S6 T2)
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Manufacturing Expenses (M3 S6 T3)
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Manufacturing Expense (M3 S6 T3)
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Calculating a Selling Price (M3 S6 T4)
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Calculating a Selling Price (M3 S6 T4)
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Session 6 Review (M3 S6 T5)
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T-Notes (M3 S6 T5)
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Manufacturing Learning Activity Submission
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Construction Accounting (M3 S7 T1)
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Learning Activity: CR Construction
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Construction Accounting (M3 S7 T1)
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T-Notes (M3 S7 T1)
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CR Construction Company (M3 S7 T2)
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CR Construction Company (M3 S7 T2)
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CR Construction Company Answers (M3 S7 T2)
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CR Construction Company Part 2 (M3 S7 T3)
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CR Construction Continued (M3 S7 T3)
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Overhead Allocations Part 1 (M3 S7 T4)
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Computing the Amount of Monthly Operating Expenses Part 1 (M3 S7 T4)
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Computing the Amount of Monthly Operating Expenses Answers (M3 S7 T4)
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Overhead Allocations Part 2 (M3 S7 T5)
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Computing Earned Profit to Date Part 2 (M3 S7 T5)
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Computing Earned Profit to Date Answers (M3 S7 T5)
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Overhead Allocations Part 3 (M3 S7 T6)
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Compute Billings Based on Percentage of Completion Part 3 (M3 S7 T6)
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Compute Billings Based on Percentage of Completion Answers (M3 S7 T6)
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Percentage of Completion Part 1 (M3 S7 T7)
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Percentage of Completion Part 2 (M3 S7 T8)
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Theoretical Earnings Part 1 (M3 S7 T9)
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Theoretical Earnings Part 2 (M3 S7 T10)
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Advance Billings (M3 S7 T11)
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Construction Forms (M3 S7 T12)
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Contractor Weekly Deposit Report (M3 S7 T12)
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Session 7 Review (M3 S7 T13)
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CR Construction Assignment Submission
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Not-For-Profit Explained (M3 S8 T1)
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Not-for-profit Explained (M3 S8 T1)
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Learning Activity: New Moreland Church
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New Moreland Church (M3 S8 T2)
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New Moreland Church Journals and Ledgers (M3 S8 T2)
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New Moreland Church Journals and Ledgers Answers (M3 S8 T2)
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New Moreland Church Forms (M3 S8 T2)
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New Moreland Church Assignment Submission
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Module Wrap-up (M3 S8 T3)
Module III: Advancing Your Account-Ability Practice Exam
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Abernathy’s Photography Studio
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Carl’s Chiropractic Clinic