Bookkeeping and Accounting

Unlock Financial Clarity: Bookkeeping & Accounting Essentials

This comprehensive course provides a practical, step-by-step guide to bookkeeping and accounting, designed for new small business owners. Learn to manage your finances effectively and gain control over your business's financial health – all without needing a full-time accountant.

What You'll Master:

• Understanding the Fundamentals: Discover why bookkeeping is crucial and its definition. Learn about accounting – the process of measuring, processing, and communicating financial information.
• Account Types & Golden Rules: Identify and differentiate between personal accounts, real accounts, and nominal accounts. Grasp the fundamental golden rules of accounting for a solid foundation.
• Journal Entries: Master the art of preparing journal entries for common business transactions, including sales, purchases, expenses, accruals, and adjustments.
• General Ledger & Specialized Books: Learn to prepare a general ledger, as well as essential books like the sales book, purchases book, cash book, and bank book.
• Inventory Valuation: Explore various inventory valuation techniques, including FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and weighted average valuation.
• Depreciation Methods: Calculate depreciation using the straight-line method and written-down value method.
• Financial Statements: Prepare essential financial statements:
  • Trial Balance: Ensure your accounting equation is balanced.
  • Profit and Loss Statement (P&L): Understand your business's profitability.
  • Balance Sheet: Gain a clear picture of your assets, liabilities, and equity.

Who is this course for?

This course is specifically designed for new small business owners who want to confidently manage their own financial records.

About TMR Tutorials:

TMR Tutorials is founded by an experienced Indian Chartered Accountant (US CPA Equivalent) with 5 years of experience working with a Big 4 firm in India. Our mission is to make finance and accounting accessible to everyone. Think of us as your personal tutor, here to guide you through the complexities of bookkeeping and accounting. Don't hesitate to reach out with any questions!