Workshop Objectives

Research has consistently demonstrated that when clear goals are associated with learning, it occurs more easily and rapidly. With that in mind, let’s review our goals for today. At the end of this workshop, you should 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.

Course curriculum

  • 1

    Module One: Getting Started

    • Getting Started
    • Workshop Objectives
  • 2

    Module Two: Basic Terminology (I)

    • Basic Terminology (I)
    • Balance Sheet
    • Assets
    • Liabilities
    • Equity
    • Income Statement
    • Revenue
    • Cost of Goods Sold
    • Expenses
    • Accounting Period
    • Case Study
    • Module Two: Review
  • 3

    Module Three: Basic Terminology (II)

    • Basic Terminology (II)
    • Accounts Receivable
    • Accounts Payable
    • Depreciation
    • General Ledger
    • Interest
    • Inventory
    • Journals
    • Payroll
    • Trial Balance
    • Case Study
    • Module Three: Review
  • 4

    Module Four: Accounting Methods

    • Accounting Methods
    • Cash Method
    • Accrual Method
    • Differences between Cash and Accrual
    • Case Study
    • Module Four: Review Questions
  • 5

    Module Five: Keeping Track of Your Business

    • Keeping Track of Your Business
    • Accounts Payable
    • Accounts Receivable
    • The Journal
    • The General Ledger
    • Cash Management
    • Case Study
    • Module Five: Review Questions
  • 6

    Module Six: Understanding the Balance Sheet

    • Understanding the Balance Sheet
    • The Accounting Equation
    • Double-Entry Accounting
    • Types of Assets
    • Types of Liabilities
    • Equity
    • Case Study
    • Module Six: Review Questions
  • 7

    Module Seven: Other Financial Statements

    • Module Seven: Other Financial Statements
    • Income Statement
    • Cash Flow Statement
    • Capital Statement
    • Budget vs. Actual
    • Case Study
    • Module Seven: Review Questions
  • 8

    Module Eight: Payroll Accounting / Terminology

    • Payroll Accounting / Terminology
    • Gross Wages
    • Net Wages
    • Employee Tax Withholding’s
    • Employer Tax Expenses
    • Salary Deferrals
    • Employee Payroll
    • Employee Benefits
    • Tracking Accrued Leave
    • Government Payroll Returns/Reports
    • Case Study
    • Module Eight: Review
  • 9

    Module Nine: End of Period Procedures

    • End of Period Procedures
    • Depreciating Your Assets
    • Reconciling Cash
    • Reconciling Investments
    • Working with the Trial Balance
    • Bad Debt
    • Posting Adjustments and Corrections
    • Case Study
    • Module Nine: Review Questions
  • 10

    Module Ten: Financial Planning, Budgeting and Control

    • Financial Planning, Budgeting and Control
    • Reasons for Budgeting
    • Comparing Budget to Actual Expenses
    • Creating a Budget
    • Case Study
    • Module Ten: Review Questions
  • 11

    Module Eleven: Auditing

    • Auditing
    • What is an Audit?
    • When and Why Would You Audit?
    • Internal
    • External
    • Case Study
    • Module Eleven: Review Questions
  • 12

    Module Twelve: Wrapping Up

    • Wrapping Up
    • Words from the Wise

Investment

Investing in yourself is one of the best return on investments you can have.