Keeping Our Clients Well-Balanced for More than 25 Years

Basic Accounting Class

Well-Balanced Accounting's consultants and teachers are QuickBooks® Certified ProAdvisors.



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 BASIC ACCOUNTING
 CLASS
 Fee: $215

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Basic Accounting
Class Overview


I. Types of Entities – Starting a Business
  • Sole Proprietorship
  • Partnership
  • C – Corporation
  • S-Corporation
  • LLC – Limited Liability Company  
II. Accountants and Bookkeepers
  • Importance of a CPA
  • Differences Between an Accountant and a Bookkeeper  
III.  Accounting Theory
  • General Accepted Accounting Principles (GAAP)
  • Cash vs Accrual Basis of Accounting
  • Accounting Equation
  • Debits and Credits
  • Chart of Accounts  
IV.  Financial Transactions/Journals
  • Sales and Sales Tax
  • Invoices
  • Check Writing
  • Income Received
  • Payroll and Payroll Tax Reporting  
V.  Bank Statements and Reconciliations
  • Importance of Reconciling
  • How to Read and Reconcile a Bank Statement  
VI.  Financial Statements
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • General Ledger/Trial Balance
  • Cash Disbursements Report  
VII. How to Prepare and Read Budgets
  • Basic Budgeting
  • The Importance of Budgeting
  • Creating Your Own Budget  
VIII.  Ratio Analysis
  • Gross Profit
  • Day Sales
  • Inventory Turnover