Part 9 Dealerships: Complicated Accounting
- Dealing with the big bucks
- How to effectively handle flooring - the necessary evil of high-cost retailers
- Accounting for creative selling
- Understand additional sources of income that dealers have which earn you profits whether you are the dealer or the customer
- CASE STUDY: Discover how dealerships account for large transactions by completing the accounting for a motorcycle dealership (City Cycle Center)
Part 10 Gear Up for an Audit
- How to get that iron-clad feeling - without a shadow of a doubt - that your financials are right
- Identifying, customizing and instituting effective auditing techniques
- How to spot and avoid dangerous trends
- How to save the company thousands of dollars in auditing costs
- Speak with confidence to auditors and management
- EXERCISE: Practice reconciling inventory, receivable and liability accounts
- The two first things you must do when accounting for a company
- Set up an efficient system from ‘scratch’
- How to establish an organized system that will ensure your value as an accountant
Part 11 Establish the Accounting Method that Fits the Business
- Choosing between the cash and accrual methods
- How to set up a hybrid system that will reap the benefits of both methods
- CASE STUDY: Complete the accounting for Sonja’s Art and Frame on a cash basis, then convert it to the accrual method
- Deciding on a fiscal or calendar year
- 6 final adjustments that should be considered at year-end
- Resetting the financial score
- EXERCISE: Prepare the final adjusting entries and close out the general ledger for a company
Part 12 Manufacturing and Construction Accounting
- How to set up and run an efficient accounting system for the small ‘mom and pop’ manufacturing company
- The simplifying trick to Process Accounting - “SPECs”
- How to price manufactured goods
- EXERCISE: Calculate the manufacturing costs for three months for the Widget Manufacturing Company
- Job Costing - A simple way to track costs by the project
- CASE STUDY: Perform the accounting for CR Construction Company
Own Your Own Bookkeeping Business
What’s in Module #1?
What’s in Module #2?
What’s in Module #4?
What’s in the Self Employment Package?
Frequently Asked Questions
