Course Offerings

The demand for accounting professionals currently exceeds supply, so if you're interested in increasing your financial awareness while gaining a marketable skill, this course is for you. This course offers a solid foundation in financial matters. You'll learn the basics of double-entry bookkeeping, along with how to analyze and record financial transactions.

Course Objectives

Cover all the bases, from writing checks to preparing an income statement and closing out accounts at the end of each fiscal period

Learn the basics of double-entry bookkeeping

Learn how to analyze and record financial transactions

Outline of instruction

Wednesday - Lesson 1
Learn all about account classifications, debits, credits and T accounts. You'll learn the difference between a liability and an asset, and you'll find out how to determine an owner's equity.

Friday - Lesson 2
Here's where you'll begin your hands-on accounting practice: Start by creating an imaginary company for which you'll be the accountant. You'll learn how to analyze your company's transactions to determine which amounts go into which accounts, then you'll create your company's own General Ledger forms and post a few transactions into those accounts. You'll also prepare a Balance Sheet to prove your accounting equations.

Wednesday - Lesson 3
Now that you have an understanding of the functions of the General Ledger, you're ready to move on to the next phase of recording transactions: the journal. In this lesson, you'll learn how to enter transactions into an 11-column journal and then post or transfer those amounts into appropriate General Ledger accounts.

Friday - Lesson 4
In this lesson, you'll learn all about Accounts Payable – money that you owe your vendors and suppliers. You'll practice journalizing cash purchases and purchases on account, and you'll get hands-on practice transferring those purchases to their corresponding Accounts Payable Ledger accounts.

Wednesday - Lesson 5
In this lesson, you'll learn about Accounts Receivable – money owed to your company by its customers. You'll learn how to journalize and post those sales on account, how to enter charge sales into the journal and how to transfer the information into an Accounts Receivable Ledger.

Friday - Lesson 6
It's payday! This lesson will teach you how to determine gross pay, deductions and net pay. You'll learn how to prepare a payroll, write payroll checks and prepare and maintain accurate payroll records.

Wednesday - Lesson 7
In this lesson, you'll learn all about banks and banking services. You'll learn the proper way to write checks, make out deposit tickets and reconcile your company's checking account with the bank statement, skills you'll find valuable in both your business and personal life!

Friday - Lesson 8
This lesson will teach you how to prepare a Schedule of Accounts Payable and a Schedule of Accounts Receivable. These reports can be used to compare the amount of money your business owes its creditors with the amount of money your customers owe your business.

Wednesday - Lesson 9
In this lesson, you'll prepare a worksheet showing the net income or net loss for the fiscal period. The worksheet will show all income and expenses for the fiscal period, as well as the assets, liabilities and owner's equity account balances.

Friday - Lesson 10
In this lesson, you will learn how to prepare various reports that are vital to the well-being of your company. You'll learn how these reports can be used to make sound financial decisions in the next fiscal period. You will discover how to put together an Owner's Equity Statement, an Income Statement and a Distribution of Net Income.

Wednesday - Lesson 11
In this lesson, you'll prepare for the end of the fiscal period by adjusting your asset account balances to accurately reflect the assets remaining at the end of the year. You will also find out how to journalize and post adjusting and closing entries to bring your company's General Ledger up to date.

Friday - Lesson 12
In the final lesson, you will prepare a Post-Closing Trial Balance report to ensure that all debits and credits in the General Ledger balance out in preparation for the new fiscal period.

CEUs

2.4

Industry Standard, State or National Certification

Certification

None

Website

None

Certification Learning Outcomes/Requirements

CE or CU Articulation

No

Prerequisites

None

Text and Supplies Needed

• Internet access
• Email
• One of the following browsers: Mozilla Firefox, Microsoft Edge, Google Chrome or Safari
• Adobe PDF plug-in (a free download obtained at Adobe.com)
• Acrobat Reader
• Access to a calculator or adding machine and a printer

Clinical Site/Special Facilities

None

Requirements for Successful Completion

80% attendance
Students must score 70% or better on 10 quizzes or 70% or better on the final exam.

Accreditation/Special Approval Requirements

N/A

Intended Audience

The course is intended for accounting professionals.

Specific Industry or Business Support Needs

N/A

Wake County Need for Industry Positions

N/A

Industry or Job Titles Related to training Outcomes for Employment

Related Courses

Course Contact Information

Non-Credit Online Learning https://ceonline.waketech.edu
919-532-5847
[email protected]