Basic Bookkeeping certificate course

Record credit sales in the sales daybook, track receivables and value-added tax, issue credit notes and apply discount and cash book entries for prompt payment discounts and returns.

Implement organizational policies and procedures to ensure timely, accurate, and reliable financial reporting for stakeholders, including income statements and balance sheets, with authorization, segregation of duties, and robust controls.

Identify threats to ethical principles such as integrity, objectivity, competence, confidentiality, and professional behavior. Explain how self-interest, self-review, advocacy, familiarity, and pressure undermine these ethics, including accruals in recording sales.

Classify items as assets, liabilities, capital, income, or expenses and place them in SFP or SPL. Apply the accounting equation and review authorization and written records to reduce fraud.

Explore how petty cash works and how to record small expenses through an impressed system, using a petty cash book to track receipts, vouchers, and balances.

Practice tests bank reconciliation concepts with quick questions on cashbook versus bank statement entries, debit and credit effects, outstanding checks, lodgements, and adjusting cashbook amounts.

Reconcile supplier statements with the purchase ledger by examining invoices, credit notes, discounts, and payments to verify the balance due. Compare the statement to the ledger to confirm the balance.

Practice sales and purchase ledger control account reconciliations, handle contra entries, discounts, returns, and balances to verify August transactions.

Reconcile the purchase ledger control account with its subsidiary ledgers through essential adjustments, correcting errors and omissions to balance the control and subsidiary balances.

Learn how to use a suspense account to balance a trial balance by identifying the original entry and making the required adjustments, including opposite entries to correct obvious errors.

Practice identifying true/false statements and correcting trial balance errors, including depreciation reversals, omissions of purchase returns, and suspense accounts, in preparation for the extended trial balance.