Bookkeeping Basics #1: Understand the Fundamentals
What you'll learn
- Understand the basics of bookkeeping helping business owners and managers feel more confident
Requirements
- As long as you know how to add and subtract (or can use a calculator!), you're ready to begin!
Description
As a business owner, entrepreneur, employee or student you may be great in your field but that doesn't mean you're strong in every area of running a business...
- A great chef may be incredible in the kitchen...
- An award-winning body builder can help the most out of shape person...
- A talented web designer or graphic artist may create unbelievable designs...
But when it's time to balance the checkbook or talk to the CPA at tax time, it feels like it's a completely different language you've never learned!
Using simple, easy-to-understand discussion, illustrations and note sheets, this 4.5 hour course with over 50 video lessons teaches you the basic building blocks of how money is tracked and what that means to your business or project.
Everyday examples using common phrases and terms you already know allows the instructor to teach that "other language" and for you to feel more confident in working with vendors, customers, employees, investors, instructors and more!
After completing the course, students will feel more confident and knowledgeable on topics such as...
- What is Income and how do you track it?
- Which types of Expenses can be claimed by your business
- The difference between Assets, Liabilities and Equity
- The Five W's of Bookkeeping
- Transactions, The Fundamental Financial Equation and Charts of Accounts.
- Accounts Receivables and Accounts Payables
- Reading Financial Reports
- Business Odds and Ends such as Mileage Tracking, Credit Terms, Shipping and Freight, Trade Discounts
- The Top 10 Mistakes Small Businesses Make
- The Top 6 Tips for Good Bookkeeping
Who this course is for:
- This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.
- A stronger grasp of these basics concepts helps every area of business from communicating with their CPA's/tax advisors to making better decisions for the company and employees; to students learning to communicate with their instructors.
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Course content
- Preview06:53
- 06:41Introductions and Off-Course Resources
Instructor
- 4.6 Instructor Rating
- 2,877 Reviews
- 13,333 Students
- 4 Courses
Over 25 years ago, after building his experience in the hospitality industry and working with many business start-ups, Ron Trucks founded his privately owned firm guiding and coaching small businesses and non-profit organizations in a wide variety of fields and industries both in his home town of St. Louis, MO and across the country.
In addition to his professional work in small-business support, Ron has also been an Business Management adjunct instructor at Jefferson College in Hillsboro, MO for over 15 years.
Over those two-plus decades of both teaching and coaching small businesses and non-profit organizations, Ron has served on various boards and in many volunteer positions including the Board of Directors of a $300 million dollar credit union, developing leadership skills with members of national fraternities and sororities, and working with troubled youth dealing with identity and self-confidence issues.