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This course introduces you to the terms and skills needed to perform the basic accounting procedures used in a small service or retail business.

Business math skills

This course contains 32 lesson units.

Unit 1 - Purposes of accounting, the accounting elements, the accounting equation, business transactions, the income statement, the balance sheet

Unit 2 - The double-entry bookkeeping framework, the account form, debits and credits

Unit 3 - Recording debits and credits in the accounts, computing the account balance, the trial balance

Unit 4 - The chart of accounts, the journal, journalizing, proving the journal

Unit 5 - Posting from the journal, balancing the accounts, preparing the trial balance

Unit 6 - Preparing the end-of-period work sheet

Unit 7 - Preparing the end-of-period work sheet (continued)

Unit 8 - Preparing the financial statements: the income statement, the statement of owner's equity, and the balance sheet

Unit 9 - Completing the accounting cycle: the adjusting entries, the closing entries, and the post-closing trial balance

Unit 10 - Handling cash, cash receipts, proving cash, cash short and over

Unit 11 - Setting up the petty cash fund, making a payment from the petty cash fund, replenishing the petty cash fund, recording petty cash transactions in the formal accounting records

Unit 12 - Banking: opening a checking account, making deposits, writing a check, recording bank transactions

Unit 13 - Reconciling the bank statement, recording banking transactions in the formal accounting records

Unit 14 - Payroll: employees versus contractors, computing earnings, computing deductions, computing net earnings

Unit 15 - Employer's payroll taxes: the employer's FICA tax, the federal unemployment tax act, state unemployment tax, payroll tax expense; reporting payroll taxes

Unit 16 - Payroll records: the payroll register, the earnings statement, the earnings record; recording payroll transactions in the formal accounting records

Unit 17 - Accounting for a personal business enterprise: the cash basis of accounting

Unit 18 - The chart of accounts, the combination journal, four-column account forms, routine work procedures for a personal business enterprise

Unit 19 - Purchases, trade discounts, cash discounts, purchases returns and allowances, net purchases, the cost of goods sold

Unit 20 - Recording purchases and cash payments in the formal accounting records, the subsidiary accounts payable ledger, the purchases journal, the payment journal

Unit 21 - Sales, sales tax, types of sales, sales source documents, sales returns and allowances, net sales, gross profits

Unit 22 - Recording sales and cash receipts in the formal accounting records, the subsidiary accounts receivable ledger, the sales journal, the cash receipts journal

Unit 23 - Accrual accounting principles applied to a small retail business: uncollectible accounts, prepaid expenses, depreciation

Unit 24 - The chart of accounts, the books of entry, and the routine accounting procedures for a small retail business

Unit 25 - The end-of-week accounting procedures for a small retail business

Unit 26 - The end-of-month accounting procedures for a small retail business

Unit 27 - The end-of-period work sheet for a small retail business: the trial balance columns and the adjustments columns

Unit 28 - The end-of-period work sheet for a small retail business: the adjusted trial balance columns, the income statement columns, the balance sheet columns, the profit (loss) computation

Unit 29 - The financial statements for a small retail business, analyzing financial statements

Unit 30 - Adjusting entries for a small retail business

Unit 31 - Closing entries for a small retail business

Unit 32 - Reversing entries for a small retail business

[Who is Akersoft] [Akersmart Library] [Akersoft Customers] [Why CBT]

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