This webinar is part one of a two part Bookkeeping Basics for the Tax Preparer webinar series which can be purchased using this link:
https://www.bigmarker.com/series/bookkeeping-basics-for-the-t/series_summitPayroll
1) Review the basics of payroll and learn about the overall payroll process
2) Learn new employee considerations in the hiring process as it relates to required paperwork
3) Discover how to account for wages, Tips, and Garnishments
4) Understand the reporting (tax filing) and payment requirements for payroll
5) Learn how to code payroll transactions using examples from the course
Inventory
1) Learn the basics of Inventory through a basic overview
2) Discover methods of valuing inventory
3) Understand the differences between Periodic and Perpetual (or Dynamic) inventory methods
4) Learn how to code Inventory transactions using examples of FIFO, LIFO and AVCO methods
5) Understand how a computerized inventory system handles these same transactions
Financial Statements
1) Learn the basics of financial statements through a basic overview
2) Learn how the Chart of Accounts is set up to work seamlessly with Financial Statement reporting
3) Understand the Income Statement (or P&L) and Balance Sheet in its construction and layout, and what information it presents
4) Understand the Statement of Cash Flows and see the way it ties the other two financial
statements together
5) Discover how understanding financial statements can help in meeting overall financial goals as well as indicating where changes may need to be made