Bookkeeping

Instruction Sets
Your at-home learning program includes seven Instruction Sets designed to take you step-by-step through the techniques and skills you'll employ in your new career in Bookkeeping.

You will need access to a computer to complete this program. Penn Foster recommends the following as minimum specifications: Pentium® II or better processor, using Microsoft® Windows® XP or later, capable of running Microsoft® Office 2007. You will also need Internet access.

Here's how it works: Your first Instruction Set will be sent to you as soon as your enrollment has been accepted. Other Instruction Sets will follow as you complete your exams, so that you will always have training materials to work with. Here is an overview of what you'll learn and the order in which you'll receive your learning materials:

Instruction Set 1

• Learning Strategies
  • Identifying and implementing a successful study method; planning when, where, and how you'll study; creating effective and efficient study tools; using study tools to improve chances for success.
• The Accounting Equation
  • Assets, liabilities, owner's equity, and the accounting equation; preparing a balance sheet.
• Workbook One
• Supplement: A Glossary of Accounting Terms
  

Instruction Set 2

• The Books of Accounting
  • The basics of the general journal; the basics of the ledger, including the T account, the chart of accounts, and opening a ledger account.
• Assets, Liabilities, and Owner's Equity
  • Account balances for asset accounts, liability accounts, and owner's equity accounts; footing and balancing the ledger; analyzing a transaction; posting to the general ledger.
• Learning Aids:
  • Account Analyzer
  • How to Use Your Account Analyzer

Instruction Set 3

• Revenue, Expenses, and Trial Balance
  • Another look at owner's equity; permanent and temporary accounts; normal balances.
• Workbook Two
• Financial Reports
  • Worksheets; how to prepare an income statement and a balance sheet; closing steps for expense and revenue summary accounts; balancing and ruling the books at the end of the year; temporary ledger accounts; permanent ledger accounts; the general ledger; the accounting cycle.
• Workbook Three
  

Instruction Set 4

• Accounting for Cash and Payroll Accounting
  • How to account for cash and where to keep money; the proprietorship; computing employee earnings; keeping records for the government; employer-paid taxes and paying payroll taxes.
• Workbook Four
• Accounting Systems
  • Accrual accounting; the importance of inventory accounting; posting to the general ledger and other business records.
• Workbook Five
• Wholesale Accounting
  • Accounting procedures for wholesale sales, discounts, sales returns, and allowances; maintaining the accounts receivable ledger; recording cash, credit, and C.O.D. purchases; maintaining accounts payable ledger; promissory notes and interest-bearing notes.
• Workbook Six
• Supplement: How to Read an Income Statement and a Balance Sheet
  

Instruction Set 5

• Assets and End-of-the-Month Activities
  • Accounting procedures for long-term tangible and intangible assets; amortization and depreciation; the end-of-the-month accounting procedures.
• Workbook Seven
• Introduction to Windows^®
  • The role of Windows® as the computer's operating system; Windows® commands and functions; customizing your computer to suit your needs; Windows® Accessories; help screens and system tools.

Instruction Set 6

• Microsoft® Excel
• Creating and modifying a worksheet in Excel; working with charts in Excel.
• Graded Project: Microsoft® Excel
• Textbook: Microsoft® Excel

Instruction Set 7

• Bookkeeping Project
  • Maintain the accounting records and prepare financial statements for this sole proprietorship. Includes ledgers, business papers and checks, journals, and the narrative of transactions. Project must be completed manually.

Graduation Set

• Supplements:
  • Mastering Adjusting Entries (AIPB exam preparation book)
  • Mastering Correction of Accounting Errors (AIPB exam preparation book)
  • Mastering Payroll (AIPB exam preparation book)
  • AIPB Handbook
• Certified Bookkeeper Exam Voucher
  • The American Institute of Professional Bookkeepers Certification Exam is designed to evaluate the skills and knowledge needed to carry out all bookkeeping and accounting functions through the trial balance and basic skills for firms with as many as 100 to 200 employees. Penn Foster Career School encourages students to take the exam, and includes an $85 voucher to help defray the cost.