Advanced Bookkeeping Course

Lesson 1 • Double-Entry Recording Mechanics

Explains debit and credit rules for each account type and how every transaction affects two or more accounts. Mastery here prevents classification errors in later chapters.

Lesson 2 • Chart of Accounts Setup

Covers account categories, numbering systems, and account hierarchies. A well-structured chart of accounts drives accurate classification throughout the course.

Lesson 3 • Core Accounting Concepts

Introduces the accounting equation, entity principle, and accrual vs. cash basis. Provides the conceptual bedrock for every subsequent recording technique.

Lesson 1 • General Ledger Posting

Demonstrates how journal entries transfer to T-accounts and running-balance ledger formats. Accurate posting produces reliable account balances for reporting.

Lesson 2 • Trial Balance Preparation

Extracts ledger balances into a trial balance and identifies arithmetic errors. A balanced trial balance confirms posting accuracy before adjustments.

Lesson 3 • General Journal Entries

Covers journal entry format, narrations, and compound entries. Accurate journal entries are the first step before any ledger posting occurs.

Lesson 4 • Subsidiary Ledgers

Explains accounts receivable and accounts payable subsidiary ledgers and their relationship to control accounts. Subsidiary detail supports customer and vendor management.

Lesson 1 • Depreciation and Amortisation Entries

Records straight-line, declining-balance, and units-of-production depreciation. Proper allocation of asset costs prevents overstated profits in any single period.

Lesson 2 • Adjusted Trial Balance

Compiles all adjusting entries into an updated trial balance worksheet. This document bridges raw ledger data and the formal financial statements.

Lesson 3 • Closing the Books

Transfers revenue, expense, and drawing account balances to retained earnings or owner's equity. Closing resets temporary accounts for the next accounting period.

Lesson 4 • Accruals and Deferrals

Covers accrued revenues, accrued expenses, deferred revenues, and prepaid expenses. These four adjustment types ensure income and costs fall in the correct period.

Lesson 1 • Reconciliation Procedure

Walks through the step-by-step reconciliation of book balance to bank balance. Systematic reconciliation isolates outstanding items and unrecorded transactions.

Lesson 2 • Petty Cash Management

Establishes, uses, and replenishes a petty cash fund with proper documentation. Petty cash controls prevent small-amount fraud and maintain complete expense records.

Lesson 3 • Internal Controls Over Cash

Applies segregation of duties, authorisation limits, and surprise audits to cash processes. Strong controls reduce misappropriation risk and support reliable reporting.

Lesson 4 • Adjusting Entries from Reconciliation

Records journal entries for bank charges, interest, and errors discovered during reconciliation. These entries bring the general ledger cash account to its true balance.

Lesson 1 • Notes Receivable and Payable

Records interest-bearing notes, calculates accrued interest, and handles maturity entries. Notes extend credit terms and require precise interest calculations each period.

Lesson 2 • Aging Analysis and Collection

Produces AR and AP aging reports to prioritise collections and manage payment timing. Aging data informs cash flow forecasts and credit policy decisions.

Lesson 3 • Allowance for Doubtful Accounts

Estimates uncollectible accounts using percentage-of-sales and aging methods. Matching bad debt expense to the period of sale produces accurate net receivables.

Lesson 4 • Credit Sales and Receivables Recording

Records credit sales, sales returns, and allowances in the accounts receivable ledger. Accurate receivables data drives collection efforts and revenue reporting.

Lesson 1 • Income Statement Construction

Builds single-step and multi-step income statements from adjusted trial balance data. Format choice affects how clearly gross profit and operating income are communicated.

Lesson 2 • Balance Sheet Construction

Organises assets, liabilities, and equity into a classified balance sheet. Proper classification reveals liquidity and solvency at a specific reporting date.

Lesson 3 • Statement of Owner's Equity

Tracks changes in contributed capital, drawings, and retained earnings across the period. Connects the income statement result to the closing equity balance on the balance sheet.

Lesson 4 • Notes and Disclosures

Explains accounting policies, estimates, and contingencies that accompany financial statements. Disclosures provide context that numbers alone cannot convey.

Lesson 1 • Statutory Deductions

Applies mandatory withholding for income tax, social insurance, and health levies to gross pay. Accurate deductions protect employees and the employer from regulatory penalties.

Lesson 2 • Gross Pay Calculations

Computes regular, overtime, commission, and piece-rate earnings for hourly and salaried employees. Correct gross pay is the foundation of every downstream payroll calculation.

Lesson 3 • Employer Payroll Contributions

Records employer-side social insurance, unemployment insurance, and benefit contributions. Employer costs exceed gross wages and must be accrued as a separate liability.

Lesson 4 • Payroll Remittances and Records

Prepares remittance schedules for tax authorities and maintains employee earnings records. Timely remittances avoid penalties; complete records support year-end reporting.

Lesson 1 • Error Detection and Correction

Identifies transposition, omission, and compensating errors using suspense accounts and re-analysis. Systematic error correction maintains ledger integrity without distorting prior balances.

Lesson 2 • Bookkeeping Quality Review

Applies analytical procedures and ratio checks to detect anomalies before reports are issued. Proactive review catches errors that mechanical checks miss and builds stakeholder confidence.

Lesson 3 • Reversing Entries

Applies optional reversing entries at period start to simplify recording of accrued items. Reversals prevent double-counting when cash transactions follow accrual entries.

Lesson 4 • Fixed Asset Registers

Maintains a detailed register tracking cost, accumulated depreciation, and net book value for each asset. The register supports accurate balance sheet presentation and disposal accounting.