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This course will show you how the basic accounting cycle is performed for a personal business enterprise and how the basic principles of accounting are applied to cash transactions and payroll transactions.

Bookkeeping I or equivalent skills.

This course contains 12 lesson units.

Unit 1 - The cash-receipts-and-disbursements basis of accounting, the modified cash basis of accounting

Unit 2 - The combination journal, the account in balance form, journalizing in the combination journal, posting from the sundry columns

Unit 3 - Proving the combination journal, proving the cash balance, completing the summary posting from the combination journal

Unit 4 - The end-of-year work sheet, the financial statements, the adjusting entries, and the closing entries for a personal business enterprise

Unit 5 - Banking: opening a checking account, making deposits, writing a check, recording bank transactions

Unit 6 - Reconciling the bank statement, recording banking transactions in the formal accounting records

Unit 7 - The petty cash fund: setting up the fund, making a payment from the fund, replenishing the fund, recording petty cash transactions in the formal accounting records

Unit 8 - Handling cash, cash receipts, the change fund, proving cash, cash short and over

Unit 9 - Payroll: employees versus contractors, computing earnings, computing deductions, computing net earnings

Unit 10 - Employer's payroll taxes: the employer's FICA tax, the federal unemployment tax act, state unemployment tax, payroll tax expense; reporting payroll taxes

Unit 11 - Payroll records: the payroll register, the earnings statement, the earnings record

Unit 12 - Recording payroll transactions in the formal accounting record

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

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