A sound knowledge of bookkeeping ensures businesses make timely and considered financial decisions to operate proactively for a successful future. This course concentrates on the needs of small businesses and is ideal for those keen to manage their own business, refresh their skills or enhance their capability to work in an admin or accounts department.
The Certificate of Bookkeepingis an online program that will introduce you to all aspects of bookkeeping, such as accounting laws, standards and principles that are commonly accepted around the world.
In this professional development course, you will explore the fundamentals of bookkeeping, including balance sheets, ledgers, profit and loss statements, and the purchases, cash payments and general journals.
On completion of this course, you will be able to control financial transactions, prepare budgets and set future financial goals via the wonderful world of bookkeeping!
Bookkeeping Foundations I
Unit 1 – Introduction – nature, scope and function of bookkeeping
What is bookkeeping
Difference between accountants and bookkeepers
History of bookkeeping
Why do we need bookkeeping
Bookkeeping as a management tool
Business structures vary internationally
Accounting conventions and doctrines
Australian accounting standards
UK accounting standards
International cooperation on standards
Unit 2 – The 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
Unit 3 – 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
Unit 4 – The double entry recording process
Opening up the general ledger
Ledger accounts/ sub ledger
The general ledger
Entries resulting from transactions
Different types of accounts
A trial balance
Ledger accounts and double entry bookkeeping
Rules to follow
Footing ledger accounts
Balancing ledger accounts
The trial balance
Accounting for drawings
Revision of definitions and processes
Unit 5 – The 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
Unit 6 – The 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
Unit 7 – The general journal
Recording non standard transactions
Designing the general journal
Posting to a general journal
General journal entries and ledgers
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
Unit 8 – 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
Businesses making a loss rather than profit
Owner withdrawing revenue
The end results
Unit 9 – The 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?
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
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
Unit 10 – Depreciation on non-current assets
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
End of Useful life for assets
Loss disposal of asset account
Unit 11 – Profit determination and balance day adjustments
Cash and accrual accounting
Balance day adjustments to final accounts
How to record prepaid expenses
Showing in the general ledger
What about if we actually owe unpaid expenses on balance day
Receiving income in advance
Other balance day adjustments –stock, bad debts, depreciation, discounts
A more comprehensive treatment of trial balance
Clubs and non profit organisations
Using a ten column worksheet or spreadsheet
Unit 12 – 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
Unit 13 – Cash control: budgeting
The cash budget
Factoring in safety margins
Taxes and budgets
GST or VAT taxes
Tax input credits
When you study with Australian Online Courses you will be assessed using a competency-based training method. Competency-based training focuses on a learner’s ability to receive, respond to and process information to achieve a competency result. As such, skills-based and knowledge assessments are geared towards attainment to meet industry-defined standards.
Assessment will be comprised of written assignments and exercises, including short answer questions, reports, essays, research projects and reflective tasks. There are no examinations or due dates for assessment. As a result, you can complete training in your own time and at your own pace with the assistance of unlimited tutor support.
Why Choose Australian Online Courses?
Professional development that is widely recognised and respected;
Improve your employment opportunities;
Study online, anywhere via our elearning system;
High-quality professional development programs written by industry experts;
No entry requirements;
All course materials provided online – no textbooks to buy;
Unlimited tutor support;
Easy to understand course content;
We offer twelve (12) months’ access, with extensions available upon application (fees apply);
Certificate of Attainment/Completion issued for your CV (hard copy provided); and
Course may be tax deductible; see your tax advisor.
How long will it take to complete this course?
The approximate study hours for this course is 100 hours. We offer twelve (12) months’ access, with extensions available upon application (fees apply).
Can I purchase optional printed materials?
While printed materials are not available for purchase, PDF copies are available for download and self-printing for this program.
When can I start this course?
You can start within 60 minutes during business hours when you enrol and pay in full with a credit card!
Credit card: Within 60 mins during business hours.
BPAY: Within 1-2 working days.
Internet Banking: Within 1-2 working days.
Cheque/Money Order: Upon receipt of mailed cheque.
Will I receive a certificate upon completion of this course?
Yes! You will receive a Certificate of Attainment upon successful completion of your assessment.
Do I need to attend classes or undertake any work placements?
No. All courses are delivered online via our e-learning system and there are no work placement requirements in this course.
What support can I expect from Australian Online Courses?
Unlimited tutor support is available throughout your studies via email during business hours Monday to Friday. Our Administrative team are available Monday to Friday via email, live chat and telephone.
I am an international student. Can I enrol into this course?
Yes! We accept enrolments from individuals both within Australia and internationally; location is no barrier to entry into our programs.