Business Bookkeeping Course

Lesson 1 • What Bookkeeping Is and Why It Matters

Defines bookkeeping and distinguishes it from accounting. Grounds students in why accurate records drive business decisions.

Lesson 2 • Types of Business Entities and Their Records

Covers how sole proprietorships, partnerships, and corporations differ in recordkeeping needs. Helps students match bookkeeping methods to entity type.

Lesson 3 • Core Accounting Concepts and Terminology

Introduces essential terms: assets, liabilities, equity, revenue, and expenses. Provides the vocabulary needed for every subsequent chapter.

Lesson 1 • Liability and Equity Accounts

Defines current liabilities, long-term liabilities, and owner equity accounts. Reinforces the accounting equation by showing how liabilities offset assets.

Lesson 2 • Asset Accounts in Detail

Covers current assets, fixed assets, and contra-asset accounts. Students learn to distinguish liquid from long-term assets and record each correctly.

Lesson 3 • Structure of a Chart of Accounts

Explains account numbering systems and the five main account categories. Connects proper structure to faster reporting and fewer classification errors.

Lesson 4 • Revenue and Expense Account Setup

Guides students in creating income and expense accounts aligned with business operations. Proper setup here directly enables accurate profit reporting.

Lesson 1 • The Debit-Credit Rule Explained

Clarifies how debits and credits affect each account type. Removes the most common source of confusion before students begin recording transactions.

Lesson 2 • The General Journal and Source Documents

Explains how to format and maintain a general journal tied to supporting documents. Proper documentation habits established here support every audit and review.

Lesson 3 • Recording Sales and Revenue Transactions

Demonstrates journal entries for cash sales, credit sales, and service revenue. Connects revenue recognition timing to correct debit-credit treatment.

Lesson 4 • Recording Purchase and Expense Transactions

Covers entries for inventory purchases, operating expenses, and vendor payments. Students practice matching expense recognition to the period incurred.

Lesson 1 • Preparing the Unadjusted Trial Balance

Walks through extracting account balances and listing them in trial balance format. Identifies the types of errors a trial balance can and cannot detect.

Lesson 2 • Locating and Correcting Ledger Errors

Provides a systematic approach to finding imbalances and transposition errors. Builds the diagnostic skills needed before any period-end close.

Lesson 3 • General Ledger Structure and Posting

Explains T-account format and the posting process from journal to ledger. Accurate posting is the bridge between recording and summarizing financial data.

Lesson 1 • Accrued Revenues and Expenses

Covers entries for earned-but-unbilled revenue and incurred-but-unpaid expenses. Students practice recognizing accruals from real business scenarios.

Lesson 2 • Why Adjusting Entries Are Necessary

Explains accrual basis accounting and the matching principle. Connects unadjusted balances to the distortions that arise without period-end corrections.

Lesson 3 • Prepaid Expenses and Unearned Revenue

Addresses the allocation of prepaid costs and deferred revenue over time. Reinforces the difference between balance sheet deferrals and income statement recognition.

Lesson 4 • Depreciation and Amortization Entries

Introduces straight-line and declining-balance depreciation calculations. Students record depreciation entries and update accumulated depreciation accounts.

Lesson 1 • The Income Statement

Builds a multi-step income statement from revenue and expense account balances. Students distinguish gross profit, operating income, and net income line items.

Lesson 2 • The Statement of Owner Equity

Tracks changes in owner equity from opening balance through net income and drawings. Bridges the income statement and balance sheet for sole proprietors and partners.

Lesson 3 • The Balance Sheet

Constructs a classified balance sheet using asset, liability, and equity balances. Demonstrates how net income flows from the income statement into equity.

Lesson 4 • Notes and Disclosures in Financial Statements

Explains the purpose of accounting policy notes and supplementary disclosures. Prepares students to present statements that meet professional reporting standards.

Lesson 1 • Temporary vs. Permanent Accounts

Distinguishes income statement accounts from balance sheet accounts in the closing context. Understanding this split is essential before writing any closing entry.

Lesson 2 • The Complete Accounting Cycle in Practice

Runs a full end-to-end cycle simulation using a realistic small business scenario. Integrates all prior chapters into one cohesive workflow.

Lesson 3 • Preparing the Post-Closing Trial Balance

Verifies that only permanent accounts remain after closing and that they balance. Confirms the books are ready for the next accounting period.

Lesson 1 • Internal Controls for Small Businesses

Introduces segregation of duties, authorization policies, and physical safeguards. Applies control principles realistically to businesses with limited staff.

Lesson 2 • Bank Reconciliation Procedures

Walks through reconciling the cash ledger balance to the bank statement balance. Identifies timing differences, errors, and unauthorized transactions.

Lesson 3 • Purchases Journal and Cash Payments Journal

Covers recording credit purchases and vendor payments in specialized journals. Mirrors the sales-side workflow to create a complete transaction recording system.

Lesson 4 • Sales Journal and Cash Receipts Journal

Demonstrates recording credit sales and cash collections in dedicated journals. Reduces posting time and improves accuracy for high-volume revenue transactions.