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
Beginner to Advanced
3 CPE, Certificate of Completion
Field of Study
Who should take this class?
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Other learners purchased these courses after completing this class:
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Refunds & Cancellations
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
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|