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!
NASBA CPE accredited course
National Association of State Boards of Accountancy (NASBA)
NASBA CPE credits: 7.0
Recommended NASBA field of study: Accounting
Program level: Basic
To earn NASBA CPE credits:
- Complete all videos
- Score 70% or higher on final exam
Glossary: Find PDF attached to the first lecture of this course.
Completion to obtain CPE should be accomplished a year after purchase date.
If you undertake this course for NASBA CPE credits, please complete the Self Study Course Evaluation.
Udemy is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For additional information including refunds and complaints, please see Udemy Terms of Use. For more information regarding administrative policies, please contact our support.
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
CPE (Continuing Professional Education)
CPE Learning Objectives
Recognize the difference and the importance of tracking personal finances separately from business finances.
Identify the primary four types of business structures in the United States.
Define “transaction” as it is used by non-accounting professionals in the small business world.
Differentiate between revenue and other types of funds received by a business.
Explain the difference between Cost of Goods Sold (COGS) and other types of small business expenses (overhead).
Explain the differences between Assets, Liabilities, and Equity.
Identify the difference between Accounts Receivable and Accounts Payable.
State the different information included in Income Statements, Balance Sheets, and A/P & A/R Aging reports.
List common mistakes small business make in bookkeeping activities.
For additional information, including refunds and complaints, please see Udemy Terms of Use, which is linked from the footer of this page.
For more information regarding administrative policies, please contact our support using the Help and Support link at the bottom of this page.
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.
Featured review
Instructor
- 4.5 Instructor Rating
- 13,787 Reviews
- 50,277 Students
- 15 Courses
For over 30 years, I’ve worked with businesses of every size—from mom-and-pop shops to billion-dollar financial firms—helping them build stronger operations, better teams, and smarter strategies.
Along the way, I’ve spent more than 20 years teaching business management at the college level, working with students who wanted not just theory, but real-world skills they could use.
My approach is simple:
Make the complicated understandable—and the intimidating doable.
Here on Udemy, I've helped over 50,000 students strengthen their business knowledge, earning over 8,000 five-star reviews by keeping the focus on practical, clear, and real-world learning.
Whether you’re starting a business, managing a team, or just wanting to understand how businesses work, I’m excited to help you build skills that make a difference.