Basic Bookkeeping Level 2
Basic Bookkeeping Level 2 course provides students with a greater understanding of accounting and the procedures used to produce financial reports. It begins with a review of the bookkeeping procedures learned in the Basic Bookkeeping Level 1 course and the process of balancing each of the subsidiary ledgers to its respective control account. Next, students learn about the different forms of business ownership (sole proprietorship, partnership, and corporation), and then about the different types of organizations (service, merchandising, and manufacturing).
Basic Bookkeeping Level 2 explains the principles of handling a company’s petty cash account, reconciling the company’s bank account, calculating amortization and calculating the gain/loss on disposal of capital assets. During the course, students examine the Income Statement, the Statement of Owner’s Equity and the Balance Sheet, and then practice completing these financial statements. Finally, students learn briefly about the transition from a manual to a computerized bookkeeping system.
For those with limited experience in bookkeeping, we have provided a Supplement at the end of the workbook that contains information on the routines of bookkeeping, the accounting cycle, important percentages, accountability for work done, procedures to guarantee the accuracy, monthly versus year-end procedures and safekeeping records.
Basic Bookkeeping Level 1
METHOD OF DELIVERY
Integrated Learning™ System training facilitated by Academy of Learning Career College facilitators.
Course manual provided for on-going reference. There is a final exam upon completion of the course. Participants who receive 75% or higher on their exam will receive a certificate.
Review of Bookkeeping Procedures; Trial Balance of Accounts Receivable and Accounts Payable Ledgers
Forms of Business Ownership; Types of Business Organizations
Petty Cash; Reconciling the Bank Account
Capital Assets; Depreciation and Amortization; Disposal of Capital Assets
The Income Statement; The Statement of Owner’s Equity; The Balance Sheet; Preparation of Financial Statements
The Transition; Introduction to Simply Accounting 2005; Setting up a Computerized Accounting System; The Subsidiary Ledgers; The Payroll Ledger; Daily Transactions and Monthly Procedures