With a solid understanding of basic accounting principles, business owners and bookkeepers can effectively communicate and interpret the financial results of their business. This program will provide participants with a solid foundation for developing their small business accounting methods, while serving as a platform for understanding and applying concepts presented in other SBTDC seminars related to business finances, such as QuickBooks® and Understanding Financial Statements. This class is focused on the small business owner or prospective owner who wants to understand accounting basics in order to determine how to set up bookkeeping practices for a business. Learn basic terminology and explore typical transactions encountered in a small business environment.
Understand why "formal books" are useful and necessary for all businesses
Explanations of common accounting terminology
Understand the difference in cash vs. accrual accounting
