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Bookkeeping Learning Path

Learning path for those that aspire to become bookkeepers.

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Meghna Patel
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110 views3 pages

Bookkeeping Learning Path

Learning path for those that aspire to become bookkeepers.

Uploaded by

Meghna Patel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Course Name Learning Objectives

Accounting Foundations  Differentiate between the four kinds of accounting: bookkeeping, financial accounting, managerial accounting, and
income tax accounting.
 Explain the use of financial statements.
 Describe the three items that make up the accounting equation: assets, liabilities, and equity.
 Identify the items listed on a balance sheet.
 Compute earnings per share.
 Differentiate between tax credits and tax deductions

Getting started in finance & Ready to begin a career in finance? Bookkeepers are essential to the success of small businesses. This path will help you build
bookkeeping a strong foundation in accounting and small business finance as well as QuickBooks, as well as the best practices of
bookkeeping.
Introduction to bookkeeping for  Explain the reconciliation process and its purpose.
small business owners  Describe the use of the general ledger.
 Determine the proper category in a chart of accounts for equipment purchased with a bank loan.
 Differentiate the various types of journal entries.
 Apply accounting rules to a scenario.
 Review the requirements for an IRS Form 1099.

Describe the process for submitting corrections to an IRS Form 1099.


Getting started in finance and  Dive into concepts like financial analysis, accounting, and budgeting. Learn how to use financial data to diagnose
accounting business conditions, identify issues, and develop plans. Explore processes to determine how money will be spent to get
work done and see how to set and maintain realistic budgets.

Simple Excel  Describe differences between absolute and relative referencing and demonstrate their usage.
 Demonstrate how to use financial functions in formulas.
 Describe date and time formats and show how to change them and use them in calculations.
 Demonstrate appropriate usage of XLOOKUP and VLOOKUP.
 Describe how to use PivotTables.
 Demonstrate the usage of COUNTIF, SUMIF, COUNTIFS, and SUMIFS.
 List the steps involved in adding a chart to a worksheet.
 Describe best practices for avoiding and checking for problems and errors.

Excel for accounting  Describe differences between absolute and relative referencing, and demonstrate their usage.
 Demonstrate how to use financial functions in formulas.
 Describe date and time formats, and show how to change them and use them in calculations.
 Demonstrate appropriate usage of XLOOKUP and VLOOKUP.
 Describe how to use PivotTables.
 Demonstrate the usage of COUNTIF, SUMIF, COUNTIFS, and SUMIFS.
 List the steps involved in adding a chart to a worksheet.
 Describe best practices for avoiding and checking for problems and errors.

Excel for accountants  List the most common tasks and approaches faced by accountants in their daily lives.
 Determine whether transactions can be exported from Quickbooks to Excel or not.
 Outline the structure that the SUMIF function uses.
 Explain how to measure EBITDA.
 Identify at what level the General Ledger tracks expenses.

Break down how to construct a business valuation using a cash flow analysis.
Quickbooks online essential  Review best practices regarding QuickBooks Online account settings.
training  Describe the process for creating a sales receipt.
 Explain how a business reconciles bank and credit card statements.
 Identify the various types and usages of customer statements.
 Determine problems associated with creating reports in QuickBooks Online.
 Define the purpose of the various QuickBooks dashboards

Job roles and responsibilities


Skills Topics Covered
Accounting Software  Excel (basic and advance)
Proficiency  QuickBooks
Basic Accounting Principles  Debits and credits
 Double-entry accounting
 Accruals
 Basic financial statements (income statement, balance sheet, cash flow statement)
Data Entry and Accuracy  Excel
Bookkeeping Procedures  Recording transactions
 Maintaining ledgers
 Reconciling accounts
 Preparing financial reports
 Accounts Receivable Management
 Accounts Payable Management
Financial Analysis  Interpret financial data
 Perform basic financial analysis such as ratio analysis, trend analysis, and variance analysis
Payroll Management  Calculating wages
 Deducting taxes and benefits
 Issuing paychecks
 Calculate bonuses and allowances
 Filing payroll taxes (tax compliancy)
 Understanding payroll processes and regulations compliance with labor laws.
Tax Preparation  Identifying deductible expenses
 Filing tax returns
 Knowledge of tax laws and regulations
 Preparing and filing various tax reports (income tax returns, sales tax returns, and payroll tax
returns)
 Understanding tax reporting requirements ensures compliance with government agencies and
minimizes the risk of audits or fines.

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