Overview

This is the first course in a series of four that will give you the skills needed to start your career in bookkeeping. If you have a passion for helping clients solve problems, this course is for you. In this course, you will be introduced to the role of a bookkeeper and learn what bookkeeping professionals do every day. You will dive into the accounting concepts and terms that will provide the foundation for the next three courses. You will learn how to work your way through the accounting cycle and be able to read and produce key financial statements. By the end of this course, you will be able to: -Define accounting and the concepts of accounting measurement -Explain the role of a bookkeeper and common bookkeeping tasks and responsibilities -Summarize the double entry accounting method -Explain the ethical and social responsibilities of bookkeepers in ensuring the integrity of financial information. No previous bookkeeping or accounting experience required.

Syllabus

What is bookkeeping?

This module introduces the fundamental role and responsibilities of a bookkeeper, emphasizing the importance of accuracy, ethical conduct, and professionalism. You will explore how bookkeeping supports business success through financial tracking and integrity.

Accounting basics

This module introduces the foundations of accounting, focusing on the accounting equation, categorization of financial transactions, and core accounting principles. You will explore how assets, liabilities, and equity interconnect on financial statements and apply key assumptions and principles to ensure accuracy and integrity in bookkeeping.

The accounting cycle

This module explores the six-step accounting cycle—the process of collecting, recording, adjusting, and reporting financial data to produce accurate financial statements. You will also examine how accounting principles like periodicity, revenue recognition, and matching ensure consistency and accuracy in financial reporting.

Step 1 - Collect and analyze transactions

This module covers the first step of the accounting cycle—collecting and analyzing transactions. You will explore how to record transactions in a journal and understand how these entries connect to the chart of accounts and general ledger to maintain accurate financial records.

Step 2 - Record and post transactions

This module focuses on recording and posting transactions, the second step of the accounting cycle. You will explore double-entry bookkeeping, reconciliation, and the use of different accounting methods—cash, accrual, and modified cash-basis—to ensure accuracy and consistency in financial reporting.

Steps 3-5 - Prepare unadjusted balance, adjustments, and adjusted balance

This module explains how to prepare unadjusted and adjusted trial balances and make adjusting entries to ensure accurate financial reporting. You will apply the matching principle and accrual accounting concepts to align revenues and expenses within the correct accounting period.

Step 6 - Prepare financial statements

This module covers the final step of the accounting cycle—preparing financial statements. You will explore the purpose and structure of the four key financial statements: the income statement, balance sheet, statement of equity, and statement of cash flows, and how together they reveal a business’s overall financial health.

Summary activity and exam: Bookkeeping basics

This module reinforces the foundational principles of bookkeeping through practical application. You will review key accounting concepts—such as the accounting equation, double-entry method, and financial statements—by completing real-world bookkeeping scenarios.