Bookkeeping Basics – Case Study Scenario 1.5 CPE

This course will be focused on applying many of the principles and concepts that we have reviewed in our Bookkeeping Certificate Series. By now, you should have completed the following courses in the Bookkeeping Basics Certificate Program:

• Critical Accounting Terminology and Effective Execution of Concepts
• Processes and Debits and Credits
• Accrual vs. Cash Accounting
• Payroll and Expenses Accounting
• Formation of a Legal Entity and Chart of Accounts
• Essential responsibilities on a daily, weekly, monthly and annual basis
• Fixed Assets and Inventory
• Utilizing Journals, Subsidiary Ledgers and the GL
• Tools for Bookkeeping Certificate

This course will allow the participant to practice the many concepts reviewed in the above courses and apply them in a case study setting.

Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.

Prerequisites

No advanced preparation or prerequisites are required for this course.

Learning Objective

• Explore concepts of bookkeeping through the question and answer of quiz questions related to the many concepts discussed in previous sessions.
• Explore a bookkeeping scenario of a sole proprietor who starts a floral business using the cash basis of accounting.
  • Identify how to record entries relative to the business
  • Identify how to reconcile the cash account
  • Identify how to prepare the balance sheet and income statement
• Explore an extended bookkeeping scenario based on certain facts in case one. This scenario will have the addition of a separate owner, apply accrual accounting aspects and introduce concepts of labor.
  • Identify how to record entries relative to the business
  • Identify how to reconcile the cash account
  • Identify how to prepare the balance sheet and income statement

Last updated/reviewed: March 11, 2024