3. Trial
Balance
1.
Analyze and record business transactions into a journal.
2.
Transfer information from a journal to a ledger.
3.
Prepare a trial balance.
4. Adjusted Trial Balance
1. Adjust prepaid rent, office
supplies, depreciation on equipment, and accrued
salaries.
2. Prepare adjusted trial balance on the worksheet.
3. Prepare income statement and balance sheet sections
of the worksheet.
4. Prepare financial statements from the worksheet
5.Adjusting, Closing
and Post-Closing Events
1. Journalize and post adjusting
entries.
2. Journalize and post closing entries.
3. Prepare a post-closing trial balance.
6. Cash Bookkeeping
1. Deposit, write, and endorse checks for
a checking account.
2. Reconcile a bank statement.
3. Establish and replenish a petty cash fund; set
up an auxiliary petty cash record.
4. Establish and replenish a change fund.
5. Handle transactions involving cash short and over
7. Payroll Book keeping
and Payroll Deductions
1. Calculate overtime pay, payroll
deductions for Social Security and Medicare, and
income tax.
2. Prepare a payroll register.
3. Journalize and post the payroll entry from the
payroll register
4. Maintain an individual employee earnings record
8. Payroll Bookkeeping
and Employer Taxes and Government Requirements
1. Calculate and journalize employer
payroll tax expenses.
2. Complete the Employer’s Quarterly Tax Return
and paying tax obligations for withholding tax
(Social Security and Medicare) and income tax.
3. Prepare and submit of government forms and estimates
work-related computations and
documentations
9. Bookkeeping of Sales,
Receivables and Cash Receipts
1. Journalize sales on account
in a sales journal.
2. Post from a sales journal to the general ledger.
3. Record to the accounts receivable subsidiary
ledger from a sales journal.
4. Prepare, journalize, record, and post a credit
memorandum.
5. Journalize and post transactions using a cash
receipts journal as well as recording to the accounts
receivable subsidiary ledger.
10. Bookkeeping of Purchases,
Payables and Cash Payments
1. Calculate net purchases.
2. Journalize transactions in a purchases journal.
3. Post from a purchases journal to the accounts
payable subsidiary ledger and the general ledger.
4. Prepare, journalize, record, and posting a debit
memorandum.
5. Journalize and post from a cash payments journal.
6. Prepare a schedule of accounts
payable
11. Adjusting of Events,
Correction of Errors and Worksheets
1. Figure adjustments for merchandise
inventory, unearned rent, supplies used, insurance
expired, depreciation expense, and salaries accrued.
2. Prepare a worksheet for a merchandise company
12. Bookkeeping Integration
1. Prepare financial statements
for a merchandise company.
2. Record adjusting and closing entries.
3. Prepare a post-closing trial balance.
4. Complete reversing entries
13. Accounts Receivable
Bookkeeping
1. Describe how the Bad Debts Expense
account and the Allowance for Doubtful Accounts
account are used to record bad debts.
2. Use the income statement approach and the balance
sheet approach to estimate the amount of Bad Debts
Expense.
3. Prepare an Aging of Accounts Receivable.
4. Write off an account using the Allowance for
Doubtful Accounts account.
5. Use the direct write-off method
14. Notes Receivable
Notes Payable Bookkeeping
1. Determine interest calculations
and maturity dates on notes.
2. Journalize entries to record renewal of a note,
dishonoring of a note, eventual receipt of payment,
and note given in exchange for equipment purchased.
3. Discount an interest-bearing note receivable
and recording a discounted note that has been dishonored.
4. Handle adjustments for interest expense and interest
income
15. Inventory Bookkeeping
1. Understand and journalize transactions
using the perpetual inventory system and explaining
the difference between perpetual and periodic inventory
systems.
2. Maintain a subsidiary ledger for inventory.
3. Understand periodic methods of determining the
value of the ending inventory.
4. Introduce to Inventory Methods – FIFO,
Specific Identification, Weighted Average
5. Introduce to Lower of Cost or Net Realizable
Value
6. Estimate ending inventory using the retail method
and gross profit method and understand how the ending
inventory amount affects financial reports.
16. Property Plant and
Equipment Bookkeeping
1. Calculate the cost of an asset.
2. Calculate depreciation using one of four methods:
straight-line, declining-balance, units of production,
and sum of the years’ digits.
3. Calculate depreciation for tax purposes using
the Modified Accelerated Cost Recovery System.
4. Explain the difference between capital expenditures
and revenue expenditures.
5. Journalize entries for discarding, selling, or
exchanging plant assets.
6. Explain amortization and how it applies to intangible
assets
17. Bookkeeping for
Partnership
1. Journalize the entry for formation of
a partnership.
2. Calculate a partner’s share of net income
based on fractional ratio, beginning capital investment,
and salary and interest allowances.
3. Prepare a statement of partners’ equity.
4. Journalize entries to record admitting a new partner,
withdrawal of a partner, and bonuses to partners.
5. Journalize entries involved in the liquidation
process and preparing a statement of liquidation.
18 Bookkeeping for a
Corporation
1. Define a corporation; establishing
a corporation; listing the advantages and disadvantages
of a corporation.
2. Journalize entries for issuing par-value stock,
no-par stock, and no-par with stated value stock.
3. Calculate dividends on preferred and common stock.
4. Record capital stock transactions under a stock
subscription plan.
19. Bookkeeping for Equity
Transactions
1. Calculate the book value of
preferred and common stock.
2. Journalize entries to record issuance of a cash
dividend and a stock dividend.
3. Journalize the purchase and sale of treasury
stock.
4. Prepare a statement of retained earnings
20. Bonds Bookkeeping
1. Record of bonds as well as interest
payments.
2. Introduce to Bond discounts and bond premiums
by the straight-line method and by effective
interest method.
3. Adjust entries for bonds
4. Relate to retirement of bonds and to sinking
funds.
21. Statement of Cash
Flows
1. Understand the purpose of a
statement of cash flows.
2. Prepare the operating activities section of the
statement of cash flows using the indirect method.
3. Prepare the operating activities section of the
statement of cash flows using the direct method.
4. Prepare a statement of cash flows.
22. Financial Statement
Analysis
1. Prepare comparative balance
sheets.
2. Use horizontal and vertical analysis techniques.
3. Calculate the four different types of ratios:
liquidity ratios, asset management ratios, debt
management ratios, and profitability ratios.
23. Voucher System
1. Prepare vouchers, recording
them in a voucher register, and recording payment
of vouchers in a check register.
2. Record revised vouchers to handle non-routine
transactions in a voucher system.
3. Use the net amount method to record invoices
and payment.
24. Segment Reporting
1. Prepare income statements focusing
on gross profit by departments.
2. Prepare income statements focusing on departmental
net income.
3. Prepare income statements focusing on departmental
contribution margin.
25. Fundamentals on Manufacturing
Companies
1. Prepare a cost of goods manufacturing
schedule.
2. Journalize transactions recording the manufacturing
process
3. Prepare a worksheet for a manufacturing company.
26. Bookkeeping for Manufacturing
Companies
1. Prepare a cost of goods manufacturing
schedule.
2. Journalize transactions recording the manufacturing
process.
3. Prepare a worksheet for a manufacturing companies
27. Internal Controls
and Fraud Prevention
1. Prepare a simple internal control
manual
2. Determine Cash and non-cash theft
3. Determine Check fraud
4. Determine Credit card fraud
5. Determine Inventory fraud
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