Bookkeeper Course

Lesson 1 • Types of Business Entities

Surveys sole proprietorships, partnerships, and corporations from a bookkeeping perspective. Entity type determines equity structure and reporting requirements.

Lesson 2 • Essential Accounting Terminology

Introduces the vocabulary used throughout the course. Precise language prevents misinterpretation of financial records and instructions.

Lesson 3 • The Role of a Bookkeeper

Defines bookkeeping versus accounting and outlines daily responsibilities. Establishes professional context before any technical content is introduced.

Lesson 4 • Cash vs. Accrual Accounting Basics

Contrasts the two primary recognition methods and their impact on recorded balances. Students select the appropriate method for given business scenarios.

Lesson 1 • Debits and Credits Explained

Establishes the rules governing debit and credit entries for each account type. Correct application here is prerequisite to all subsequent recording tasks.

Lesson 2 • The General Ledger

Explains how journal entries are posted to individual ledger accounts. The ledger organizes data by account, enabling balance calculation.

Lesson 3 • The General Journal

Introduces the journal as the first point of entry for every transaction. Proper journal entries form the source data for all downstream reports.

Lesson 4 • Compound and Complex Journal Entries

Extends single-entry skills to transactions affecting three or more accounts. Compound entries are common in payroll, purchases, and multi-tax transactions.

Lesson 1 • Owner Equity Transactions

Records capital contributions, owner withdrawals, and retained earnings adjustments. Equity transactions directly alter the accounting equation's right side.

Lesson 2 • Sales and Revenue Transactions

Covers recording cash and credit sales, returns, and discounts. Revenue accuracy directly affects income reporting and customer account balances.

Lesson 3 • Purchase and Expense Transactions

Records inventory purchases, operating expenses, and supplier invoices. Accurate expense recording is essential for cost tracking and profit measurement.

Lesson 4 • Cash Receipts and Payments

Focuses on recording all inflows and outflows through the cash account. Proper cash recording supports bank reconciliation and fraud prevention.

Lesson 1 • Sales Journal and Purchases Journal

Introduces dedicated journals for repetitive credit sales and credit purchases. Special journals reduce posting volume and improve audit trails.

Lesson 2 • Accounts Payable Subsidiary Ledger

Tracks individual supplier balances and due dates alongside the control account. Timely payable records prevent duplicate payments and late fees.

Lesson 3 • Cash Receipts and Cash Payments Journals

Applies the special journal concept to all cash inflows and outflows. Separating cash journals speeds reconciliation and strengthens internal controls.

Lesson 4 • Accounts Receivable Subsidiary Ledger

Maintains individual customer balances separate from the general ledger control account. Accurate subsidiary records support collections and customer statements.

Lesson 1 • Accrued Revenues and Expenses

Records income earned and costs incurred but not yet invoiced or paid. Accruals align reported results with the period in which activity occurred.

Lesson 2 • Purpose and Types of Adjusting Entries

Explains why unadjusted balances misstate income and assets at period end. Four adjustment categories are introduced as a framework for the entire section.

Lesson 3 • Depreciation of Fixed Assets

Records the systematic allocation of asset cost over its useful life. Depreciation entries reduce asset book value and increase period expenses.

Lesson 4 • Preparing the Adjusted Trial Balance

Combines unadjusted balances with all adjusting entries into a single verified schedule. This schedule is the direct source for all financial statement figures.

Lesson 1 • The Statement of Owner's Equity

Bridges net income and owner withdrawals to the ending equity balance. This statement explains changes in equity between two reporting dates.

Lesson 2 • The Statement of Cash Flows

Classifies cash movements into operating, investing, and financing activities. Cash flow data reveals liquidity independent of accrual-based income figures.

Lesson 3 • The Balance Sheet

Organizes assets, liabilities, and equity into a classified balance sheet. The balance sheet reports financial position at a single point in time.

Lesson 4 • The Income Statement

Constructs a multi-step income statement from revenue and expense account balances. The income statement measures profitability over a defined reporting period.

Lesson 1 • Reversing Entries and Opening the New Period

Applies optional reversing entries to simplify recording in the subsequent period. Proper period opening prevents double-counting of accrued items.

Lesson 2 • The Complete Accounting Cycle

Maps all nine steps from transaction identification through post-closing trial balance. Understanding the full cycle prevents skipped steps and reporting errors.

Lesson 3 • The Work Sheet

Uses a multi-column work sheet to organize trial balance, adjustments, and statements. The work sheet is an optional but powerful error-detection tool.

Lesson 4 • Closing Entries

Transfers temporary account balances to retained earnings or owner's capital. Closing entries reset revenue and expense accounts for the next period.

Lesson 1 • Principles of Internal Control

Introduces the five components of an effective internal control framework. Strong controls reduce fraud risk and improve data reliability.

Lesson 2 • Understanding Bank Statements

Interprets the components of a bank statement and maps them to book records. Familiarity with statement layout is prerequisite to reconciliation.

Lesson 3 • Fraud Detection and Prevention

Identifies common bookkeeping fraud schemes and the controls that deter them. Early detection limits financial loss and legal exposure for the business.

Lesson 4 • Adjusting Entries from Reconciliation

Records journal entries for items discovered during bank reconciliation. Only book-side items require adjusting entries; bank errors require bank correction.