Business Accounting

Learn the Basic Foundations of Accounting for a Real World Software Environment  

Whether your business is small or sizable, a precise and thorough ‘accounting’ is essential – it gives you a clear picture of what moves in and out, what you own and owe, along with your business’s overall financial health. ‘Business Accounting’ aims to take you to a professional standard without requiring any prior formal education or accounting prerequisite. Blending live and pre-recorded classes, ‘Business Accounting’ starts from the very basics of traditional accounting theory and applies them to the modern practice of digital record keeping. So by the end, you will be equipped and ready for the real world.

Instructing ‘Business Accounting’ is Goh Chai Li (CL), a civil servant turned entrepreneur who has taught accounting in both a school (Politeknik Brunei) and entrepreneurship environment (in collaboration with Young Entrepreneurs’ Association Brunei) where she has taught more than 200 entrepreneurs in digital record keeping. Over the course of 8 weeks, CL will be synthesizing Frank Wood’s ‘Business Accounting 1’ with her expertise of the accounting software ‘QuickBooks’. Outlined below are the topics that will be covered:

Week 1 – Introduction to Double Entry Bookkeeping

• The accounting equation and the balance sheet [pre-recorded].
• The double entry system for assets, liabilities and capital [pre-recorded].
• The assets of stock.
• The effect of profit or loss on capital and the double entry system for expenses and revenue.
• Balancing off accounts.
• The trial balance.

Week 2 – The Financial Statement of Sole Traders

• Trading and profit and loss accounts: an introduction.
• Balance sheets.
• Trading and profit and loss accounts and balance sheets: further considerations.
• Accounting concepts [pre-recorded].

Week 3 – Books of Original Entry

• Books of original entry and ledgers [pre-recorded].
• Cash books.
• The sales day book and the sales ledger.
• The purchases day book and the purchases ledger.
• The returns day books.
• The Journal [pre-recorded].
• The analytical petty cash book and the imprest system
• Employee’s pay.

Week 4 – Books of Original Entry

• Bad debts, provisions for doubtful debts, and provisions for discounts on debtors.
• Depreciation of fixed assets: nature and calculations [pre-recorded].
• Double entry records for depreciation.

Week 5 – Books of Original Entry

• Accruals and prepayments and other adjustments for financial statements.
• The valuation of stock [pre-recorded].
• Bank reconciliation statements.
• Control accounts [pre-recorded].

Week 6 – Books of Original Entry

• Errors not affecting trial balance agreement [pre-recorded].
• Suspense account and errors.

Week 7 – Special Accounting Procedures

• Introduction to accounting ratios [pre-recorded].
• Single entry and incomplete records.

Week 8 – Special Accounting Procedures

• Cash flow statements.
• Recap.

Who is this class for?
Both new and experienced accountants, entrepreneurs and anyone whose field/interest involves digital record keeping.

How long is this class?
16 hrs total (2 hrs per class).

How many classes are there?
8 classes over 8 weeks.

How many students are required to activate this class?
5

What do I need to bring?
Laptop

How will this class take place?
Online via Zoom.

How do I access the pre-recorded topics?
You can access them in the ‘Curriculum’ section [coming soon].

Can I preview a pre-recorded topic?
Yes! the first one, ‘The accounting equation and the balance sheet,’ is available for viewing.