Accounting Made Easy – Double Entry Bookkeeping

What you will learn

Bookkeeping

Basic accounting

Business Ledgers

Balance Sheets

Description

Welcome to the ABACUS Auto Balance Accounting System Bookkeeping Course.

In less than an hour you will learn the simple rules and practical applications of bookkeeping that can be used to run either large or small businesses.

Following the course material provided as a downloadable PDF reference, we start with a brief outline of the principles of bookkeeping and will cover all the basics related to accounting and double entry bookkeeping.

With plenty of examples throughout the course, we will show you how the structure of a bookkeeping system works and you will be taught how to record transactions and draw up and read financial statements.


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Also covered in this course are the different accounts and journals, profit and loss accounts, petty cash books, stock and stock control, balance sheets and if applicable to your country of business residence we cover the basics of value added tax.

We have provided an Excel spreadsheet that you can use for the given working example which you can test your knowledge with at the end of the course and we then go through the answers line by line

You can then apply these fundamental skills and successfully run any large or small real-world business.

English
language

Content

Introduction

Introduction

Section 2 : A Brief Outline

A Brief Outline

The Concept of Double Entry

The Concept of Double Entry – Debit and Credit

Accounts

Accounts

The Recording of Transactions

The Recording of Transactions

Examples of T Account Transactions

Examples of T Account Debit and Credit Transactions

Recording Conventions and the Trial Balance

Recording Conventions and the Trial Balance

Account Groupings

Account Groupings

Accounting Statements

Accounting Statements

Financial Statements

Financial Statements

Example of a Trading Account

Example of a Trading Account

Stock

Stock

Administering Stock

Administering Stock

Control of Stock

Control of Stock

Accounting Entries for Closing Stock

Accounting Entries for Closing Stock

What is a Profit and Loss Account?

What is a Profit and Loss Account?

What is a Balance Sheet?

What is a Balance Sheet?

The Structure of a Bookkeeping System

The Structure of a Bookkeeping System

Primary Books of Account

Primary Books of Account

The Petty Cash Book

The Petty Cash Book

Journals

Journals

Value Added Tax

Value Added Tax

The Auto Balance ‘One-book’ Accounting System (ABACUS)

The Auto Balance ‘One-book’ Accounting System (ABACUS)

Now… for the real test – A working example

Now… for the real test – A working example

Answers

Answers

Congratulations!!

Congratulations!!