Jim Stice and Kay Stice – Accounting Foundations: Bookkeeping

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Summary

• Accounting Foundations: BookkeepingBy: Jim and Kay SticeLevel: BeginnerDuration: 1h 28mReleased: Jun 25, 2015Description:Accountants use the credits and debits recorded in ledgers or “books” prepared by bookkeepers to create a company’s financial statements.

• In this course, accounting professors Jim and Kay Stice walk you through the four key steps in the bookkeeping process: analyzing, recording, summarizing transactions, and preparing financial reports.

• They explain the components of a journal entry (debits and credits) and the essential questions a bookkeeper/accountant asks in reviewing those transactions.

• They also explain how accountants translate ledger information into financial statements, and the role of computer programs such as Quicken in helping businesses manage their accounts.Topics include:Reviewing financial statementsAnalyzing transactionsCategorizing transactionsRecording a cash acquisitionRecording the sale of goods or servicesPosting journal entries to accountsContents:Introduction1.

• Illustration of the First Three Steps in the Accounting CycleConclusionAuthors:Jim SticeJim Stice is a professor of accounting at BYU.