This Warnborough online course will give you a strong and solid foundation in bookkeeping. This line of work has a lot of job opportunities and even more room to grow. Bookkeeping enables you to work in lots of different and interesting industries. It offers flexibility in that you can work part time or full time. Every business needs a bookkeeper and that’s great news for employment prospects.
Course Structure
The duration of this online course is 100 hours. This consists of 13 in-depth lessons:
Lesson 1. Introduction – Nature, Scope and Function of Bookkeeping
- What is bookkeeping?
- Difference between accountants and bookkeepers
- History of bookkeeping
- Bookkeeping terminology
- Understanding language
- Why do we need bookkeeping?
- Bookkeeping as a management tool
- Business structures
- Financial information
- Accounting conventions and doctrines
- Accounting standards
- Australian accounting standards
- UK accounting standards
- International cooperation on standards
Lesson 2. The Balance Sheet
- What is a balance sheet?
- Assets and liabilities
- Components of a balance sheet
- What items do not appear on the balance sheet
- Example of a Balance Sheet
- Tracking business performance
- T format balance sheet
- Balance sheet allocations
- What is working capital?
Lesson 3. Analysing and Designing Accounting Systems
- What is an accounting system?
- Understanding the flow of information in bookkeeping
- Other business documents – statements, order forms, quotations
- Steps in the bookkeeping process
- Designing the System
- Analysing business needs
- Designing the accounting system
- Designing the chart of accounts
- Writing a chart of accounts
- Designing the type of journals needed
Lesson 4. The Double Entry Recording Process
- Ledgers
- Opening up the general ledger
- Ledger accounts/ sub ledger
- The general ledger
- Entries resulting from transactions
- Recording transactions
- Different types of accounts
- A trial balance
- Ledger accounts and double entry bookkeeping
- Recording entries
- Rules to follow
- Analysis chart
- Footing ledger accounts
- Balancing ledger accounts
- The trial balance
- Accounting for drawings
- Revision of definitions and processes
Lesson 5. The Cash Receipts and Cash Payments Journal
- Recording cash transactions in journals
- Multi column receipts journal
- Cash payments journal
- Multi column cash payment journal
- What discounts are allowed
- Accounting discounts allowed and received
Lesson 6. The Credit Fees and Purchases Journal
- Credit sales and credit purchases
- Credit sales journal
- Debtors subsidiary journal and control account
- Using a debtors schedule
- The credit purchases journal
- Creating a creditors subsidiary ledger and schedule
- The cash payments journal and creditors control account
Lesson 7. The General Journal
- Recording non standard transactions
- Designing the general journal
- Posting to a general journal
- General journal entries and ledgers
- Anomalies
- Recording credit purchases of non current assets
- Recording owners contributions or withdrawals
- Recording debts that are written off
- Recording contra entries
- Recording purchase returns
- Other uses for a journal
Lesson 8. Closing the Ledger
- Closing at the end of the accounting period
- Preparing for the new accounting period
- Transferring balance day closing entries
- Profit and loss account
- Determining gross profit
- Simple profit and loss account
- Balance sheet
- Businesses making a loss rather than profit
- Owner withdrawing revenue
- The end results
Lesson 9. The Profit and Loss Statement
- Introduction
- The balance sheet and how it relates to Profit and Loss Statement
- Using net profit figure to evaluate business performance
- What is profitability?
- Gross Profit
- Net Profit
- Cash flow margin
- Return on assets margin
- Gearing ratio and how it relates to cash flow
- Return on owners equity margin
- Informative profit and loss presentation
- Segmentation
- Functional classification – grouping expenses
- Showing extraordinary expenses and revenue
- Accounting for unused materials or stock
- Why do we need to calculate the cost of materials used
Lesson 10. Depreciation on Non-current Assets
- Intangible assets
- Depreciation methods
- Depreciation calculation methods
- Calculating depreciation with the straight line method
- What if there is no residual value
- How to enter depreciation into the books
- Declining balance method of depreciation
- Calculating percentage rate of depreciation
- Production units method of depreciation
- What about intangible assets
- Keeping track of assets and depreciation
- Asset register
- End of Useful life for assets
- Loss disposal of asset account
Lesson 11. Profit Determination and Balance Day Adjustments
- Cash and accrual accounting
- Cash accounting
- Accruals accounting
- Balance day adjustments to final accounts
- How to record prepaid expenses
- Showing in the general ledger
- What about if we actually owe unpaid expenses on balance day?
- Receiving income in advance
- Other balance day adjustments – stock, bad debts, depreciation, discounts
- A more comprehensive treatment of trial balance
- Partnerships
- Companies
- Clubs and non profit organisations
- Using a ten column worksheet or spreadsheet
Lesson 12. Cash Control: Bank Reconciliation and Petty Cash
- Ways of handling money
- Outgoing monies (payments)
- Methods of controlling cash
- Recording cash transactions
- The cash book
- Bank transactions and the cash book
- Bank reconciliation statements
- The cash cycle – cash flow and liquidity
- Account receivable turnover ratio
- Operating cash flow ratio
- Inventory turnover ratio
- Professional journals
Lesson 13. Cash Control: Budgeting
- Introduction
- Budget types
- The cash budget
- Factoring in safety margins
- Variable costs
- Budget reviews
- Taxes and budgets
- GST or VAT taxes
- Tax input credits
- Taxable supplies
HOW DOES A WARNBOROUGH ONLINE COURSE WORK?
You can start the course whenever is convenient for you. You will be studying from home and have access to support from our qualified tutors. Practical exercises and research tasks will be set at the end of each lesson – including an assignment. You will submit this assignment to your course tutor, who will mark your work and give you constructive feedback and suggestions.
If you have any questions please contact us.
