I have purposely left introducing the Financial Accounting Equation to the final part of my free bookkeeping course. If you are intending to study bookkeeping and accounting then almost certainly you will encounter the accounting equation within the early pages of your studies. It is sometimes stated that double entry bookkeeping is based on the … Read more
This is the sixth lesson in my free bookkeeping course and I am introducing you to the annual depreciation formula, prepayments, accruals, bad debt provisions and the way we must value our stock of materials and goods available for sale. Depreciation is not allowable as a tax deduction, the revenue treat asset value deductions under … Read more
The General or Nominal Ledger is the book containing all the information from which our monthly and annual accounts are prepared. I am going to provide some nominal accounts examples to show how we should categorize the various nominal accounts and this will help in setting out the initial listings where computerized accounting packages are … Read more
All entries to the Ledgers arise from books of prime entry. In lesson three of our small business bookkeeping course we covered the Sales Day Book, Sales Returns Book, Purchases Day Book and Purchases Returns. We are going to start this lesson by looking at the remaining books of prime entry you will find within … Read more
Within this our third lesson, I am going to introduce you to some bookkeeping journals and ledgers. I will be introducing the sales and purchase journals which are the books of prime entry, (or first entry), for all of our credit transactions. To date I have introduced you to the Nominal (General) Ledger and to … Read more
The double entry bookkeeping example shown in this the second lesson of my free course, includes the information we need to add with each entry to our ledger. My first lesson likened an account to the letter T, which is an accepted method for learning the initial basics of bookkeeping. As I am sure you … Read more
This is the first page of our free bookkeeping course. This first section will give you the ground rules which you will take forward to all of your studies in Bookkeeping and Accounts. The subject is very easy and we hope we might persuade you to take up the subject with the objective of becoming … Read more