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Updated in [June 30th, 2023]
The Diploma in Effective Bookkeeping and Payroll provides students with an understanding of bookkeeping and payroll. Students will learn the principles of bookkeeping and internal controls, subsidiary ledgers and special journals, reconciliations, correcting entries, sales tax, different state taxes, budgeting, accounting for merchandising and cash, partnerships and corporations, accounts receivable and bad debts, interim profit vs loss, preparing to close the books, transitioning to closing the books at the end of the year, cash flow, the indirect method and the direct method. Upon completion of the course, students will have the necessary knowledge and skills needed to effectively manage payroll and finances in a company.
[Applications]
Upon completion of the Diploma in Effective Bookkeeping and Payroll, students will be able to apply their knowledge to a variety of business settings. They will be able to use their understanding of bookkeeping and payroll to create and manage budgets, reconcile accounts, and close the books at the end of the year. Additionally, they will be able to use their knowledge of sales tax, state taxes, and cash flow to ensure accurate and timely payments to employees. With this diploma, students will be well-equipped to manage finances and payroll in any business setting.
[Career Paths]
[Job Position Path]Bookkeeper
[Description]A bookkeeper is responsible for maintaining financial records and ensuring accuracy in financial transactions. They are responsible for recording and tracking financial transactions, such as purchases, sales, receipts, and payments. They also prepare financial reports, such as balance sheets, income statements, and cash flow statements. Bookkeepers may also be responsible for reconciling bank statements, preparing payroll, and filing taxes.
[Development Trend]The development trend for bookkeepers is to become more specialized in their field. As technology advances, bookkeepers are expected to become more proficient in using software and other tools to streamline their work. Additionally, bookkeepers are expected to become more knowledgeable in areas such as accounting, taxation, and financial analysis. As the demand for bookkeepers increases, employers are looking for candidates with a higher level of expertise and knowledge.
[Education Paths]
The diploma in Effective Bookkeeping and Payroll is a great way to gain the knowledge and skills needed to become a successful bookkeeper and payroll specialist. This diploma program will provide you with the necessary skills to understand the principles of bookkeeping and payroll, budgeting, and cash flow. You will also learn about sales tax, different state taxes, and their impact on payroll. This diploma program will also provide you with the knowledge and skills to effectively manage payroll and finances in a company. This diploma program is ideal for those who are looking to gain the necessary skills to become a successful bookkeeper and payroll specialist.
The development trend of this diploma program is to provide students with the most up-to-date knowledge and skills needed to become a successful bookkeeper and payroll specialist. The program will also focus on providing students with the necessary skills to understand the principles of bookkeeping and payroll, budgeting, and cash flow. Additionally, the program will focus on providing students with the knowledge and skills to effectively manage payroll and finances in a company. The program will also focus on providing students with the most up-to-date information on sales tax, different state taxes, and their impact on payroll.
Course Syllabus
Principles
In this module, Principles, students will learn about The eleven generally accepted accounting principles. They will also learn about The Accounting Equation. Students will also learn debit and credit rules in this module. The course will also provide and analysis on transactions a made by a company.Overview of Internal Controls
In this module, Overview of Internal Controls, students will learn about the need for internal controls. It will also cover principles of internal control. It module will also go over several control concepts. Students will also revive an overview of internal control. They will also learn about the audit process.Subsidiary Ledgers and Special Journals
In this module, Subsidiary Ledgers and Special Journals, students will learn about subsidiary ledgers. Students will also learn about using special journals in this module. It will also go over posting sales journals at the end of the week. The module then covers cash receipts and posting cash receipts.Reconciliations
In this module, NAME OF MODULE, students will learn about what a reconciliation is. Students will also learn about reconciling items and unreconciled differences. The module will also go into detail about who should perform a reconciliation as well as who can review a reconciliation. It will also cover what a roll-forward analysis is.Correcting Entries
In this module, Correcting Entries, students will learn about correcting entries and how to properly correct errors when bookkeeping. The module will provide examples on different kinds of mistakes that are made while bookkeeping. The module will also cover different methods for fixing these types of mistakes.Sales Tax
In this module, Sales Tax, students will learn about sales tax. The module will teach students about how to calculate sales tax. It will also cover recording transactions for sales tax. Students will also learn how to pay the collected taxes. It will also touch on the different rules when filing in each state.Budgeting
In this module, Budgeting, students will learn about budgeting for a company. The module will cover a business's strategic plan and it's impact in setting an annual budget. This includes budgeting strategies for smaller companies. Students will also learn about different types of budgets. It will also go into detail into a bookkeeper's role in budgeting.Accounting for Merchandising
In this module, Accounting for Merchandising, students will learn about income from merchandising companies.Students will also learn about a merchandising Income statement. This module will also go into detail about when a credit note is issued to the customer. Students will also learn about calculating sales discounts.Accounting for Cash
In this module,Accounting for Cash, students will learn about petty cash. This also includes accounting for petty cash. Students will learn about filling out a petty cash voucher as well as a petty cash journal. The module will also cover accounting for cash over or short. It will also go into detail on good cash control in a retail business.Payroll
In this module, Payroll, students will learn about the payroll process. The topic will go into depth on gross pay for both hourly employees and salaried employees. Students will then learn about taxes and deductions in the payroll process. This also includes voluntary deductions and state tax rates.Partnerships and Corporations
In this module, Partnerships and Corporations, students will learn about business partnerships. Specifically the module will focus on accounting in a business partnership. This includes the process of admitting a new partner and the drawing account. Students will also learn about what happens in the event of a partner withdrawal or the unexpected death of a partner. Finally the module will cover stocks.Accounts Receivable and Bad Debts
In this module, Accounts Receivable and Bad Debts, students will learn about accounts receivable. The module will also cover aging reports and the Balance sheet for accounts receivable. Students will also learn about bad debts. This includes writing off bad debts. This module will also talk about the sale of receivables.Interim Profit or Loss
In this module, Interim Profit or Loss, students will learn about preparing interim statements. Students will get a breakdown of the importance of a interim statement. The module will demonstrate the layout of the interim statement. This module will also provide examples of a statement indicating a loss and a statement indicating a profit.Year End - Preparing to Close the Books
In this module, Year End - Preparing to Close the Books, students will learn about the end of the year responsibilities that come with bookkeeping. Students will learn about adjusting entries and adjusting entries types. The module will also go into details about inventory. It will also cover the spreadsheets at the end of the year.Year End - Closing the Books
In this module, Year End - Closing the Books, students will learn about closing the books at the end of the year. The module will cover closing journal entries for both permanent and temporary accounts. Students will also learn about year end financial statements. This includes a breakdown of the income statement and the balance sheet.Cash Flow
In this module, Cash Flow, students will learn about cash flow. The module will cover the categories of cash flow. It will also talk about cash from operations. This module will compare the indirect method and the direct method. Students will also learn about maximizing cash flow and the cash cycle.Course assessment
