The key importance of bookkeeping and financial administration is to extract accurate data and information for the preparation of useful financial statements such as the statement of financial position, statement of financial performance and cash flow statement, to mention a few principle ones. The importance of bookkeeping and financial administration is as discussed below:
Bean Counter Hello my name is Dave and yes I'm a bean counter. No I didn't say alcoholic, that's a soft drink not a beer in my hand, and this is not a meeting of Alcoholics Anonymous. For those of you that don't know a bean counter is slang sometimes used to refer to a bookkeeper.
I've searched the web for good free bookkeeping and accounting tutorials and courses and came to the conclusion that they're hard to find so this is my attempt to try and fill the void.
What qualifies me to attempt this task? I guess you can tell it's not my fancy dress code. I have over 30 years experience in business and even taught at a small business college for a couple of years. My method of passing on knowledge is to make the subject easy to understand and to use simple examples and terminology to illustrate the concepts being presented.
If you're anything like me I learn a lot easier when I can see an example of what we're talking about. Tell me and show me too. This free bookkeeping tutorial and course is geared to business owners, managers, and individuals who have not had any formal bookkeeping training or on the job experience and need or want to learn the basics of bookkeeping.
In other words, this tutorial is for beginners newbies or those needing a quick refresher and is only an introduction into the world of accounting. They say a little knowledge is a dangerous thing. Well my goal is to make you dangerous. I still need to maybe add a few more quizzes, additionl videos, and review all the lessons for content.
Your comments and recomendations would be appreciated. In the future, I may require a small fee notice I said small for this Updated Version. Get it now while it's still free! What's Improved Broke the Lessons down into segments more manageable "bites" Better Menu System Removed some Interactive Links in some tables that might have been a little bit confusing Added Videos to emphasize key concepts Some Quizzes Skill Tests are still not graded; but, any test at end of a section are now graded when you register More Mobile Friendly Your Comments Watch My Site Tour Video to quickly determine if my site and tutorials might provide the accounting and bookkeeping help you're looking for.
Consider supporting my site by purchasing an E-book or CD version of my tutorials. Your support makes it possible for me to continue to develop and add additional new tutorials to my Bean Counter Series.
Purchase E-book or CD Versions Tutorial Navigation A menu of all the bookkeeping lessons is presented at the top and bottom of all the lessons. A back and next arrow also allow you to go back to the prior lesson or on to the next lesson.
These sections include Navigation Instructions. The Lessons also include Links to additional learning materials and quizzes. Additional Needs My bookkeeping and accounting quizzes and games require Adobe's Free Macromedia Flash Player which is normally already installed on your computer.
Lesson 1 The Bookkeeping Language introduces you to some of the terminology and definitions used in the accounting and bookkeeping language. Lesson 3 Debits and Credits introduces and explains Debits and Credits and how they affect the Accounting Equation and are used to record business transactions.
Lesson 4 Recording Business Transactions explains and uses examples to illustrate how business transactions are properly analyzed, recorded, and summarized.
Lesson 5 The General Ledger and Journals explains what General Ledger and Journals are, how they're used, and what bookkeeping purposes they serve. Lesson 6 Financial Statements explains what financial statements are, how they're created, and how they're used. Lesson 7 Review of Major Concepts reviews the major definitions, concepts, and bookkeeping records previously discussed and necessary for an understanding of bookkeeping.
Introduction Why Learn Bookkeeping? Why would you want to learn bookkeeping and keep up to date financial records anyway? Can't you hire an accountant to come after the end of the year and get your check book and shoe box and do your taxes? And yes you will have adequately fulfilled your taxpayer obligations.
But in order to run a business and know what, where, and when to take corrective actions requires business information. How do you get and where do you find this information? You don't if you don't keep accurate and current records about your business financial activities bookkeeping.
Users of Financial Information Who needs financial information about a business besides the owner s? Users can be grouped into two broad categories namely internal users and external users. Internal users are the managers and the owners and employees who actually work for the business.A services agreement is used to document a transaction where the seller provides a service to the buyer.
Such an agreement may be appropriate for marketing services, advertising services, testing services, consulting services, management services or other professional services. Bookkeeping and accounting is the act of tracking and analyzing the financial activity for your business, including purchases, sales to customers and supplier payments.
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Bookkeeping and financial administration facilitates the keeping of accurate and complete records.