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Accounting 101: What Every Bookkeeper Needs to Know


Course
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Kathy Grosskurth
Quantity
For someone else
Purchase for $81 or enter access code

Learn Double-Entry Bookkeeping Concepts through practical exercises. Kathy Grosskurth teaches the accounting equation, how Debits and Credits work using T-Accounts, the accounting cycle, business entity types, and internal controls. Sponsored by Liscio.

Accounting 101: What Every Bookkeeper Needs to Know 

Having solid bookkeeping chops means more than knowing what buttons to push in QuickBooks Online.

QBO does the double-entry accounting for you behind the scenes, but understanding what it’s doing with debits and credits every time you create a transaction is crucial to your long-term success.

Daily bookkeeping may no longer be writing individual ledger accounts in a manual bookkeeping system, but the results are still the same.

Kathy Grosskurth is a debit to the industry. In this 3-hour class, not only will she walk you through practical accounting exercises, but you’ll gain the fundamental knowledge you need from beginning to end, literally.

Topics include demonstrating the pros and cons of the three general business entity types, and understanding the importance of the chart of accounts in our accounting records so that you’re categorizing transactions into the right buckets.

We’ll also talk about the year-long accounting cycle and creating financial statements.

If you’re new to bookkeeping, self-taught, or dove right into QuickBooks without any accounting or business training, this class will fill in the gaps and build your foundation.

 

What you will learn: 

  • Accounting vs Bookkeeping
  • The Accounting Cycle
  • Business Entities
  • Separate Entity Assumption and Internal Controls
  • Double-Entry Bookkeeping Defined
  • Chart of Accounts
  • Accounting Equation
  • Financial Statements

 

Instructional Level

Beginner to Advanced

Course Length

3 hours

Course Credits

3 CPE, Certificate of Completion

Field of Study

Accounting

Delivery Method

QAS/Self Study/Blended

Who should take this class?

  • Beginning bookkeepers who are self-taught

Why pay full price? Sign up for a Royalwise OWLS Membership
and get this course and more for one low monthly price.
Silver membership pays for itself in just two courses per month!



For more information regarding concerns, refunds, and program cancellation policies, visit our Terms and Conditions

 

 

Other learners purchased these courses after completing this class:  

 

 

No one tells accounting professionals they will actually have two jobs. One is the work you love doing - helping clients succeed via the valuable accounting, bookkeeping, tax and advisory work you do for them. The other is frustrating drudgery - searching for documents, chasing clients to send them, and opening multiple emails to find what you need. Liscio allows you to do more of the work you love, by taking away the drudgery.


Thousands of accountants use Liscio every day to make it drop-dead easy for clients to securely exchange sensitive documents with the firm and get more work done. A single source of truth helps staff collaborate quickly. Integrated efile and KBA capabilities plus unlimited storage and unlimited clients included means app spend can be reduced and streamlined.

Stop chasing clients for documents and give them an easy, secure, mobile file sharing app they’ll love to use. Your clients and your staff will thank you.

Client Experience 2.0™ begins with Liscio. Learn More Here.

 

Refunds & Cancellations

Please view our Terms of Service, for information on refunds, cancellations, and complaint resolution. To request a refund, please contact us.

 

Royalwise is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

 





Course Updated: December 2021

Here is the course outline:

Download the Handouts

Download your class handouts here

pageText Download the handouts here

Accounting 101: What Every Bookkeeper Needs to Know - Intro and Agenda

Getting Started: Intro, Agenda, setting expecations

pageText Intro and Agenda

Bookkeeping Concepts

This first lesson introduces you to the concepts The Accouting Cycle, Business Formations, and Double-Entry Bookkeeping. Before we dive into the hands-on components, we need to understand some key concepts and terms.

pageText Accounting vs Bookkeeping
pageText The Accounting Cycle
pageText Business Entities
pageText What is Double Entry Bookkeeping?

T-Accounts: The Debits and Credits Behind the Scenes

In these lessons, we will use T-Accounts to demonstrate the concepts of Double-Entry Bookkeeping. 

pageText T-Accounts, Debits, and Credits
pageText T-Accounts for Balance Sheet Exercises
pageText T-Accounts and Profit Loss Categories
pageText Preparing Our Fiscal Year-end Financial Statements
pageText Conclusion - What's Next?

Quiz and CPE Credit

Take this quiz to demonstrate your mastery of the material. Pass the quiz with an 80% or higher to complete the Course, earn your Certificate, and win points!

pieChart Complete this survey for CPE Credit
quiz Accounting 101 Quiz

Completion

The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
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