Everyone who works in a business has accounts. All Business and Accounting majors have accounts exams. We all know that they are hugely important, however few can claim to understand accounts properly.
EwB guides you through the complex maze of the accounting world by teaching in language that is easy to understand. Topics covered include payroll, shareholders' equity, balancing the books and preparing financial statements
Whether you are interested in becoming an Accountant or Bookkeeper or simply want to understand more about the numbers at your business, our online course will teach you how to get on top of accounts painlessly.
Why an understanding of bookkeeping and accounts helps you manage your business and make it more profitable.
Choose the right type of business including non-profit organisations ● Cash and accrual accounting ● Tracking key numbers ● The key roles
What are debits and credits and do banks always get them round the wrong way? ● Key terms explained ● Why cash isn’t profit and profit isn’t cash
How to get things to appear in the right place and knowing your assets from your liabilities and your income from your equity
Understanding the accounting jigsaw ● From transactions to financial statements – how all the steps in the bookkeeping and accounting process fit together
The benefits of using a computerized system ● Are there any drawbacks? ● On your computer or online? ● The key players includingQuickBooks, Sage, Bookkeeper and Xero
Understanding what goes on in your computerized system and how your transactions inputs are turned into meaningful accounts
Making sure you have what your customers want to buy when they want to buy it ● Knowing what your inventory cost you and how much you now have and what it’s worth
Cash and credit sales ● Discounts and their impact on profit ● Managing account customers and dealing with bad debts
Cash in hand and bank accounts ● safeguarding your cash – the key controls to keep your cash safe ● Check up on your bank – the importance of the bank reconciliation
Business or private? How to identify expenses properly ● Keeping a tight grip on your costs ● Managing petty cash for smaller expense amounts
Who counts as an employee ● Getting the essential paperwork right ● Different ways of paying employees ● Benefits ● Dealing with government requirements
How to deal with long term assets ● Different types of long-term assets ● How long-term assets appear in your accounts ● Intangible assets
Liabilities explained ● Types of current liability ● Calculating current liabilities ● Types of noncurrent liability ● Calculating noncurrent liabilities
Types of equity ● Recording equity transactions ● Dividends: key dates and recording dividends ● Equity disclosure in the Balance Sheet
Why bother with a trial balance? ● Finding common bookkeeping and accounting errors and sorting them out
Moving from bookkeeping to accounting ● Getting a true view of how your business is really doing ● Depreciation ● Accruals and prepayments ● Corrections
The importance of financial statements ● From trial balance to your company results ● The income statements ● The balance sheet ● The cash flow statement
Using your accounts to make business decisions ● The key accounts measures that tell you how well your business is doing ● Returns and margins
What’s liquidity? ● Why liquidity can be more important than profit ● The key ratios that can govern the survival of your business
How the right controls can protect your business ● Safeguarding your cash ● Protecting against fraud and theft ● Employee bonding
Understanding and calculating the most important business taxes ● Employee Taxes ● Sales Taxes ● Corporate Taxes
The reports your accounting system needs to produce to send to government ● Dates and deadlines● Employee and payroll reports ● Tax reports
What you need to do at the end of each year ● The accounting entries that are necessary to get you ready for the next year
Pricing is for 12 months access.
Completion Time: 12 hours (average)
Our author Lita, has an outstanding reputation for explaining essential accounts concepts clearly to business audiences. Lita has written this course with a practical focus explicitly in mind. We have overlaid the writings with some further practical examples and downloadable templates by our own in-house writing team. The course is also updated with responses to customer requests and updates in the world of accounts - you get all this for free.
Lita Epstein, MBA