course

Bookkeeping Basics – Case Study Scenario

(62)
4.580645
106 Enrolled
1.5 Hours (On-Demand)
1.5 CPE  

This course is a premium+ course it can be accessed either by individual purchase or through a premium+ subscription

Purchase this course | $63

This course will be focused on applying many of the principles and concepts that we have reviewed in our Bookkeeping Certificate Series. By now, you should have completed the following courses in the Bookkeeping Basics Certificate Program:

  • Critical Accounting Terminology and Effective Execution of Concepts
  • Processes and Debits and Credits
  • Accrual vs. Cash Accounting
  • Payroll and Expenses Accounting
  • Formation of a Legal Entity and Chart of Accounts
  • Essential responsibilities on a daily, weekly, monthly and annual basis
  • Fixed Assets and Inventory
  • Utilizing Journals, Subsidiary Ledgers and the GL
  • Tools for Bookkeeping Certificate

This course will allow the participant to practice the many concepts reviewed in the above courses and apply them in a case study setting.

Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.

Learning Objectives
  • Explore concepts of bookkeeping through the question and answer of quiz questions related to the many concepts discussed in previous sessions.
  • Explore a bookkeeping scenario of a sole proprietor who starts a floral business using the cash basis of accounting.
    • Identify how to record entries relative to the business
    • Identify how to reconcile the cash account
    • Identify how to prepare the balance sheet and income statement
  • Explore an extended bookkeeping scenario based on certain facts in case one. This scenario will have the addition of a separate owner, apply accrual accounting aspects and introduce concepts of labor.
    • Identify how to record entries relative to the business
    • Identify how to reconcile the cash account
    • Identify how to prepare the balance sheet and income statement
Last updated/reviewed: March 11, 2024

Included In Certifications

This course is included in the following Certification Programs:

14 CoursesProfessional Bookkeeping Certification

  1. Bookkeeping: Terminology and Process Execution
  2. Bookkeeping: Debits And Credits
  3. Bookkeeping: Cash vs. Accrual
  4. Bookkeeping: Payroll And Expenses
  5. Bookkeeping: Legal Entity And Chart Of Accounts
  6. Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
  7. Bookkeeping: Responsibilities
  8. Bookkeeping: Fixed assets and inventory
  9. Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
  10. Management Internal Control Essentials
  11. GAAP Principles, Assumptions and Considerations
  12. GAAP Presentation of Financial Statements
  13. Bookkeeping Basics – Case Study Scenario
  14. Useful Bookkeeping Tools
17 Reviews (62 ratings)

Reviews

5
Anonymous Author
This course is great for anyone going into bookkeeping or opening a business themselves. Lynn gives great examples of real business situations and she thoroughly explains how to record entries related to everyday business activities.
5
Member's Profile
General and brief case study, easy enough to follow. Good overview of T-accounts, debit and credit idea, as well as basic BS understanding. I would make labor part a little bit more detailed, but it was good for an overview.
5
Anonymous Author
This course overall was great and I learned a lot from it. It's very helpful and teaches all terms and meanings. Shows ways to calculate, as the end it offers a lot of useful xl's that's very useful. Would recommend.
5
Member's Profile
A practical application of the material given so far. Definitely a good course for the actual work of a bookkeeper. Now I will add a few more words to reach the word count so I can complete the course.
4
Anonymous Author
Overall a pretty smooth course. The case study was a bit confusing. I'd suggest the case study be presented differently. Perhaps a template and the facts in a printable form. Challenging.
5
Anonymous Author
I really appreciated the case study scenario given in this course. It was a good way to review and apply the accounting concepts learned throughout the bookkeeping certification program.
5
Member's Profile
This has been a great course. I have been able to utilize all aspects of this course in my day to day work. It has been very helpful. I will likely take more courses to help me.
4
Anonymous Author
Very helpful course! This explained a lot of aspects that I was unclear on and will help in my day to day activities.
5
Anonymous Author
This is a very good recap of the course in a quick and easy manner. Very informative and helpful. Was presented well
5
Member's Profile
Understood the basis of Bookkeeping in detail. The various concept of accrual were also discussed in this course.
4
Anonymous Author
It would have been more helpful to have a worksheet so the person could practice making entries themselves.
5
Member's Profile
Good review of all bookkeeping principles with scenarios covering a wide range of topics.
5
Member's Profile
Great Scenarios!!! Gives an overview of many concepts that were covered in the courses
5
Member's Profile
This was by far my favorite section. The case scenario were super helpful!
5
Member's Profile
Excellent course I am understanding the overall concepts for bookkeeping.
5
Member's Profile
This course provided a great review of all the bookkeeping knowledge
5
Member's Profile
The entire course was informative and well presented.
show all reviews
Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Questions and Answers(2 Questions)
There are no questions.         Answers to Frequently Asked Questions (FAQs)
Member's Profile
Jay Dreher
(President at Clear Choice, LLC) | Feb 6, 2024

I am looking for some bookkeeping exercise resources which I can use to practice my bookkeeping skills. An exercise where I would record journal entries, ledger, balance sheet, income statement, etc. I have finished the course, but I would like to put what I have learned into practice. Something beyond what was provided in this course. Any ideas? Thanks!

Member's Profile
Lynn Fountain
View Instructor Profile | Feb 8, 2024

There are numerous resources on the web I hesitate to recommend anything specific because there are some that may help you in your industry better I would just google “bookkeeping resources” or if you maybe are in a certain sector like not for profit you can add that to your search Good luck

Instructor for this course
  Course Overview CPE
Course Syllabus
Introduction And Overview
  Bookkeeping Case Study Introduction6:00
  Case Scenario20:14
  Case Scenario Continued10:13
  Financial Statements2:34
  Extended Scenario14:59
  Extended Scenario Continued7:13
  Summary1:23
Continuous Play
  Bookkeeping Basics- Case Study Scenario1:02:37
Supporting Material
  Slides: Bookkeeping Basics– Case Study ScenarioPDF
  Bookkeeping Basics– Case Study Scenario Glossary/IndexPDF
Review And Test
  REVIEW QUESTIONSquiz
 FINAL EXAMexam