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.
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
Certificate of Completion
Field of Study
Who should take this class?
Accounting 101: What Every Bookkeeper Needs to Know Description
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.
You'll have lifetime access to the on-demand course including all handouts and class material, including future updates. You'll also be able to ask questions in the Q&A forum and get answers, even years later. You can pause, rewind, speed up, and watch again later as you apply what you learn to each situation as it crops up.
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
Here is the course outline:
Download the Handouts
Download your class handouts here
Accounting 101: What Every Bookkeeper Needs to Know - Intro and Agenda
Getting Started: Intro, Agenda, setting expecations
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.
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.
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!
The following certificates are awarded when the course is completed:
|Royalwise CPE Certificate