A class on how to operate a business using basic recordkeeping, accounting, reporting, and analysis methods. Students will learn how to set-up a Chart of Accounts, how business transactions are processed, how to prepare a Profile & Loss Statement, a Balance Sheet, and a Statement of Cash Flows. Financial operations and reporting for all forms of business, however the sole proprietor form of business will be demonstrated. Students will learn how to prepare and file a Schedule C from their generated reports. This is a hands-on class where students learn the importance of timely reporting of business transaction by performing financial analysis, using graphs and ratios.
This class is highly recommended before enrolling into QuickBooks.