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Bookkeeping Foundations Online Course

Bookkeeping Foundations Sale!
Full Fee $595.00 incl GST - Best Value!
Payment Plan $800.00 incl GST
Duration 100 hrs (12 months)
Exam Optional
Tutor Support Yes unlimited by email
Qualification Certificate
Clear

This new foundation bookkeeping course focuses on small services businesses.

  • No prior knowledge assumed
  • Suitable for beginner
  • Globally relevant

This course is available either as online or by correspondence, students learn the double entry method of bookkeeping.  Topics covered include designing accounting systems, double entry recording, cash receipts and payments journals, general journal, closing the ledger, profit and loss statements, depreciation, profit determination and balance day adjustments as well as cash control; budgeting, reconciliation and petty cash.

Course Aims:

  • Discuss the basic purposes and scope of Bookkeeping
  • Discuss the use and purpose of balance sheets, assests and liabilities.
  • Design and set up a bookkeeping system – set up double entry bookkeeping
  • Describe the fuction of ‘special journals’
  • Prepare a credit fees journal and set up a credit sales journal
  • Set up and use a “general journal”
  • Discuss methods used to close ledger accounts at the end of an accounting period
  • Prepare a profit and loss statement
  • Determine appropriate approaches to depreciation of non-current assets
  • Describe the ‘accrual’ and ‘cash’ basis of accounting, the matching process, balance day adjustments Describe the cash cycle, cash control methods, bank reconciliation processes, petty cash
  • Explain the role of budgets.

 

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    Detailed Course Outline

    This course is made up of a number of modules.  Each of these has self assessment questions, a set task (practical homework) and an assignment which you can upload online.  Select each module below to learn more.

    There are 13 Lessons in this course:

    Introduction

    • What is bookkeeping?
    • Difference between accountants and bookkeepers.
    • History of bookkeeping.
    • Bookkeeping Terminology.
    • Understanding language.
    • Why do we need bookkeeping.
    • Bookkeeping as a management tool.
    • Business structures.
    • Business structures vary internationally.
    • Financial information.
    • Accounting conventions and doctrines.
    • Accounting standards.
    • Australian accounting standards.
    • UK accounting standards.
    • International cooperation on standards.

    Balance Sheet

    • What is a balance sheet.
    • Assets and liabilities.
    • Components of a balance sheet.
    • What items do not appear on the balance sheet.
    • Example of a Balance Sheet.
    • Tracking business performance.
    • T format balance sheet.
    • Balance sheet allocations.
    • What is working capital.

    Analysing and Designing Accounting Systems

    • What is an accounting system.
    • Understanding the flow of information in bookkeeping.
    • Other business documents -statements, order forms, quotations.
    • Steps in the bookkeeping process.
    • Designing the System.
    • Analysing business needs.
    • Designing the accounting system.
    • Designing the chart of accounts.
    • Writing a chart of accounts.
    • Designing the type of journals needed.

    The Double Entry

    • Ledgers.
    • Opening up the general ledger.
    • Ledger accounts/ sub ledger.
    • The general ledger.
    • Entries resulting from transactions.
      Recording transactions.
    • Different types of accounts.
    • A trial balance.
    • Ledger accounts and double entry bookkeeping.
    • Recording entries.
    • Rules to follow.
    • Analysis chart.
    • Footing ledger accounts.
    • Balancing ledger accounts.
    • The trial balance.
    • Accounting for drawings.
    • Revision of definitions and processes.

    Cash Receipts and Cash Payments Journal

    • Recording cash transactions in journals.
    • Multi column receipts journal.
    • Cash payments journal.
    • Multi column cash payment journal.
    • What discounts are allowed.
    • Accounting discounts allowed and received.

    Credit Fees and Purchases Journal

    • Credit sales and credit purchases.
    • Credit sales journal.
    • Debtors subsidiary journal and control account.
    • Using a debtors schedule.
    • The credit purchases journal.
    • Creating a creditors Subsidiary Ledger and schedule.
    • The cash payments journal and creditors control account

    The General Journal

    • Recording non standard transactions.
    • Designing the general journal.
    • Posting to a general journal.
    • General journal entries and ledgers.
    • Anomalies.
    • Recording credit purchases of non current assets.
    • Recording owners contributions or withdrawals.
    • Recording debts that are written off.
    • Recording contra entries.
    • Recording purchase returns.
    • Other uses for a journal.

    Closing the Ledger

    • Closing at the end of the accounting period.
    • Preparing for the new accounting period.
    • Transferring balance day closing entries.
    • Profit and loss account.
    • Determining gross profit.
    • Simple profit and loss account.
    • Balance sheet.
    • Businesses making a loss rather than profit.
    • Owner withdrawing revenue.
    • The end results.

    Profit and Loss Statement

    • The balance sheet and how it relates to Profit and Loss Statement.
    • Using net profit figure to evaluate business performance.
    • What is profitability?
    • Gross Profit.
    • Net Profit.
    • Cash flow margin.
    • Return on assets margin.
    • Gearing ratio and how it relates to cash flow.
    • Return on owners equity margin.
    • Informative profit and loss presentation.
    • Segmentation.
    • Functional classification- Grouping expenses.
    • Showing extraordinary expenses and revenue.
    • Accounting for unused materials or stock.
    • Why do we need to calculate the cost of materials used.

    Depreciation on Non-current Assets

    • The balance sheet and how it relates to Profit and Loss Statement.
    • Using net profit figure to evaluate business performance.
    • What is profitability?
    • Gross Profit.
    • Net Profit.
    • Cash flow margin.
    • Return on assets margin.
    • Gearing ratio and how it relates to cash flow.
    • Return on owners equity margin.
    • Informative profit and loss presentation.
    • Segmentation.
    • Functional classification- Grouping expenses.
    • Showing extraordinary expenses and revenue.
    • Accounting for unused materials or stock.
    • Why do we need to calculate the cost of materials used.

    Profit Determination and Balance Day Adjustments

    • Intangible assets.
    • Depreciation methods.
    • Depreciation calculation methods.
    • Calculating depreciation with the straight line method.
    • What if there is no residual value.
    • How to enter depreciation into the books.
    • Declining balance method of depreciation.
    • Calculating percentage rate of depreciation.
    • Production units method of depreciation.
    • What about intangible assets.
    • Keeping track of assets and depreciation.
    • Asset register.
    • End of Useful life for assets.
    • Loss disposal of asset account.

    Cash Control: Bank Reconciliation and Petty Cash

    • Ways of handling money.
    • Outgoing monies (payments).
    • Methods of controlling cash.
    • Recording cash transactions.
    • The cash book.
    • Bank transactions and the cash book.
    • Bank reconciliation statements.
    • The cash cycle – cash flow and liquidity.
    • Account receivable turnover ratio.
    • Operating cash flow ratio.
    • Inventory turnover ratio.
    • Professional journals.

    Cash Control: Budgeting

    • Budget types.
    • The cash budget.
    • Factoring in safety margins.
    • Variable costs.
    • Budget reviews.
    • Taxes and budgets.
    • GST or VAT taxes.
    • Tax input credits.
    • Taxable supplies

    When you have completed the lessons of your Certificate course, you will be given the option of taking the optional exam. It's okay if you don't want the exam, we still issue your Careerline Certificate. For Advanced Certificates however, the exam is compulsory (per module) and are included in the course fee.

    Course Tutor(s)

    Thea Roberts   B.Comm., M.A.

    Liselle Turner  Bachelor of Business (Marketing), Diploma in Hospitality Management, Certificate IV in Training and Assessment

    Chad Osorio  B. Psych. Juris Doctor

    Frequently Asked Questions

    Can I pay in installments?

    Yes! We offer great payment plans, however full payment up front is the cheapest. You can choose the best payment plan for you from the course page, or call us on 07 55368782 to talk to one of our course consultants for a custom plan.

    Can I study from anywhere in the world?

    We have many international students. Careerline's range of courses are suitable for any one, anywhere in the world.

    Do I get a discount if I enroll in a second course?

    Yes. You may claim a 5% fee discount when you enroll in a second course, and a further 10% off a three-course package.

    l

    Do I have to sit an Exam?

    No. If you are enrolled in a Certificate course (100hrs), the exam is optional. You will be issued with a certificate which proves that you are competent in all units, if you choose not to sit the exam.

    Do you have set start dates?

    There are no set start dates, you may start at any time. Our courses are all self-paced. As our home page says, ‘Courses for Anyone, Anywhere, Anytime’. ‘Anytime’ includes the start time of your choice. However, we do encourage our students to submit assignments on a regular basis. Wherever possible, we suggest developing a study routine.