Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses, license plates, phones, prices, and money! Numbers connect us all in many more ways than we might imagine. Essentially, our world revolves around numbers.
Some of us enjoy dealing with numbers, while others may fear them or even have a phobia. For those of you who have already recognized and appreciated the impact that numbers have on just about everything, you deserve a cookie. Welcome to Basic Bookkeeping!
Objectives:
- Understand basic accounting terminology.
- Identify the differences between the cash and accrual accounting methods.
- Keep track of your business by becoming familiar with accounts payable and receivable.
- Use a journal and general ledger to document business financials.
- Utilize the balance sheet.
- Identify different types of financial statements.
- Uncover the reasons for and actually create a budget.
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Be familiar with internal and external auditing.