Bookkeeping Basics #1 Understand The Fundamentals



Last updated 7/2022
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: English | Size: 2.42 GB | Duration: 4h 31m
Learn bookkeeping terms and concepts to make owners, employees & students more confident and successful!


What you’ll learn
Understand the basics of bookkeeping helping business owners and managers feel more confident
Requirements
As long as you know how to add and subtract (or can use a calculator!), you’re ready to begin!
Description
As a business owner, entrepreneur, employee or student you may be great in your field but that doesn’t mean you’re strong in every area of running a business…A great chef may be incredible in the kitchen…An award-winning body builder can help the most out of shape person…A talented web designer or graphic artist may create unbelievable designs…But when it’s time to balance the checkbook or talk to the CPA at tax time, it feels like it’s a completely different language you’ve never learned!Using simple, easy-to-understand discussion, illustrations and note sheets, this 4.5 hour course with over 50 video lessons teaches you the basic building blocks of how money is tracked and what that means to your business or project.Everyday examples using common phrases and terms you already know allows the instructor to teach that "other language" and for you to feel more confident in working with vendors, customers, employees, investors, instructors and more!After completing the course, students will feel more confident and knowledgeable on topics such as…What is Income and how do you track it?Which types of Expenses can be claimed by your businessThe difference between Assets, Liabilities and EquityThe Five W’s of BookkeepingTransactions, The Fundamental Financial Equation and Charts of AccountsAccounts Receivables and Accounts PayablesReading Financial ReportsBusiness Odds and Ends such as Mileage Tracking, Credit Terms, Shipping and Freight, Trade DiscountsThe Top 10 Mistakes Small Businesses MakeThe Top 6 Tips for Good BookkeepingCPE (Continuing Professional Education)CPE Learning ObjectivesRecognize the difference and the importance of tracking personal finances separately from business finances.Identify the primary four types of business structures in the United States.Define “transaction” as it is used by non-accounting professionals in the small business world.Differentiate between revenue and other types of funds received by a business.Explain the difference between Cost of Goods Sold (COGS) and other types of small business expenses (overhead).Explain the differences between Assets, Liabilities, and Equity.Identify the difference between Accounts Receivable and Accounts Payable.State the different information included in Income Statements, Balance Sheets, and A/P & A/R Aging reports.List common mistakes small business make in bookkeeping activities.For additional information, including refunds and complaints, please see Udemy Terms of Use, which is linked from the footer of this page.For more information regarding administrative policies, please contact our support using the Help and Support link at the bottom of this page.
Overview
Section 1: Course Introduction
Lecture 1 Introduction – Course Overview
Lecture 2 Introductions and Off-Course Resources
Lecture 3 Even If You’re Not A Business Owner
Lecture 4 Tips for the Experience
Section 2: Money and Its Relationship to Business
Lecture 5 Business vs. Personal
Lecture 6 Why Worry About The Money?
Lecture 7 What Kind of Business Are YOU?
Lecture 8 The Four Business Types
Section 3: Let’s Understand What We’re Talking About
Lecture 9 What and Why…
Lecture 10 Who…
Lecture 11 When and Where…
Lecture 12 Consistency Is The Key
Section 4: The Tools
Lecture 13 Section Intro
Lecture 14 Transactions
Lecture 15 The Big Equation… A = L + E
Lecture 16 Accounts and the Chart of Accounts
Lecture 17 Sample Charts of Accounts
Section 5: Here Comes The Money – Income/Revenue
Lecture 18 How Are You Actually Making Money?
Lecture 19 Invoices, Receipts & Statements… Oh, My!
Lecture 20 If You ARE Invoicing…
Lecture 21 Invoice Samples
Lecture 22 Not All Money Coming In Is Income…
Section 6: There Goes The Money – Expenses
Lecture 23 What Are Expenses?
Lecture 24 What Does It Cost To Make (or Acquire) The Product? – COGS
Lecture 25 Organizing the Expenses
Lecture 26 The Stamp
Section 7: The Other Big Three
Lecture 27 Section Intro
Lecture 28 It’s Just "Stuff" – Assets
Lecture 29 Can You Break A $100 Bill? – Asset Shift
Lecture 30 The Company Owes WHAT? – Liabilities
Lecture 31 But What’s Really MINE? – Equity
Section 8: Who Owes Whom?
Lecture 32 Put It On My Tab – Accounts Payable
Lecture 33 You Want To Pay When? – Accounts Receivable
Lecture 34 What If They Don’t Pay?
Section 9: For The Record Books
Lecture 35 How Are You Doing and How Do You Know?
Lecture 36 Cash Reporting versus Accrual Reporting
Lecture 37 Am I Making Any Money? – P&L Report
Lecture 38 Where Do I Stand Right Now? – The Balance Sheet
Lecture 39 Am I Worth Anything? – The Owner’s Equity Reports
Lecture 40 What’s Owed To Me and By Me – The A/P and A/R Reports
Section 10: Odds and Ends
Lecture 41 Section Intro
Lecture 42 Mileage Tracking
Lecture 43 Terms / Cash Discounts
Lecture 44 Trade Discounts
Lecture 45 Shipping & Freight
Lecture 46 Good Record Keeping
Lecture 47 Top 10 Mistakes Small Businesses Make
Lecture 48 Top 6 Tips For Good Bookkeeping
Section 11: So Now What?
Lecture 49 Can I Get Some Help? and Our Course Recap
Lecture 50 What Comes Next?
Lecture 51 Anything Else?
This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.,A stronger grasp of these basics concepts helps every area of business from communicating with their CPA’s/tax advisors to making better decisions for the company and employees; to students learning to communicate with their instructors.

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https://www.udemy.com/course/bookkeeping-basics/

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