10 Small Business Bookkeeping Tips
November 29, 2023
Article
This course is part of Intuit Academy Bookkeeping Professional Certificate
Instructor: Intuit Academy Team
74,526 already enrolled
Included with
(1,192 reviews)
Recommended experience
Beginner level
Course 1 Bookkeeper Basics, or the equivalent, is a recommended prerequisite for this course.
(1,192 reviews)
Recommended experience
Beginner level
Course 1 Bookkeeper Basics, or the equivalent, is a recommended prerequisite for this course.
Summarize the common types of assets a business may have.
Describe the importance of control over inventory.
Outline how depreciation expense is reported on an income statement.
Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation.
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In this second course, you will dive deeper into the world of bookkeeping and focus on accounting for assets. If you are familiar with bookkeeping basics, such as double entry accounting, you are ready for this course. You will gain an understanding of common asset types, learn how to account for inventory, calculate cost of goods sold, and work with Property, Plant, and Equipment (PP&E). Upon completing this course, you will use your new knowledge of assets to record transactions and produce financial statements for increasingly complex business situations.
By the end of this course, you will be able to: -Summarize the common types of assets a business may have -Describe the importance of control over inventory -Outline how depreciation expense is reported on an income statement -Illustrate how transactions can be recorded in terms of the resulting change in the elements of the accounting equation. Course 1 Bookkeeper Basics, or the equivalent, is a recommended prerequisite for this course.
In this module, you'll begin to work with assets and understand how to account for sales, notes receivable, and uncollectible accounts.
25 videos4 readings6 assignments4 discussion prompts8 plugins
In this module, you will learn about inventory accounting methods, including cost of goods sold, costing methods, and management techniques.
21 videos4 assignments4 discussion prompts4 plugins
In this module, you will learn how to work with plant, property, equipment, depreciation of assets, and the implications of equipment leases.
15 videos4 assignments2 discussion prompts10 plugins
In this module, you will apply your knowledge of accounting principles to identify how various transactions and assets impact the balance sheet and income statement.
11 videos2 readings3 assignments2 discussion prompts9 plugins
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As a global technology platform, Intuit's vision is to build the world’s largest professional network that gives tax, bookkeeping, and financial experts confidence and empowers them with intelligent tools and development paths to provide an exceptional experience to our customers and make them successful in their financial lives.
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Reviewed on May 19, 2023
I found the course to be excellent! The course was easy to understand quizzes were great to determine if you were assimilating the information. The tests were comprehensive.
Reviewed on Oct 19, 2021
Overall great course. Still unclear about some things and there is no way to clarify. That would make it better. But besides that this course is well done.
Reviewed on Dec 2, 2022
It was very informational but difficult at times to understand some of the concepts in the videos because she talks too fast. But I learned alot throughout this course.
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