Education > Bookkeeping 101
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Welcome to your free and private bookkeeping, Bookkeeping and Accounting 101 course designed with fast learners in mind. This Class, offered via a series of subdomains below, is in fact a Cliff Notes Course for modern times.
Snippets of material from our books have been combined with visuals for rapid learning.
The full source material is found on the rest of our Education Menu.
You should NOT proceed further if you have not completed "Orientation" and "Education > Sales Systems 101".
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Welcome to your free and private bookkeeping, Bookkeeping and Accounting 101 course designed with fast learners in mind. This Class, offered via a series of subdomains below, is in fact a Cliff Notes Course for modern times.
Snippets of material from our books have been combined with visuals for rapid learning.
The full source material is found on the rest of our Education Menu.
You should NOT proceed further if you have not completed "Orientation" and "Education > Sales Systems 101".
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In a Digital Age, "bookkeeping", "Bookkeeping" and "Accounting" with Positive and Negative Values
is the way to get going. Debits and Credits for long addition are no longer needed,
and their old role can be learned along the way experientially. If you don't know what Debits and Credits are, don't worry about that for now. Just keep going. You'll pick them up with time.
The word "bookkeeping" with a lower case "b" is a generic word that relates to any and all record keeping tasks when managing a business or when managing a household. Those would include "managerial and cost accounting" related tasks (like those in the Sales Systems you learned about) as well as "tax and financial accounting" related tasks. It's a generic reference to anything and everything related to keeping numbers related to your life or business in order.
The word "Bookkeeping" with a capital "B" is used when referring to a specific subset of the "tax and financial accounting process" where bank transactions are recorded in arrears and categorized in order to generate an Income Statement and a Balance Sheet. This is the "right side" of the "Business Process for Monthly Statements" flowchart you are familiar with now.
This lower case "b" thing and the upper case "B" thing is like the informal and formal YOU found in some foreign languages. It also may be similar to "tissue" vs "Kleenex" for those familiar with that example.
Obviously, when someone is talking, sometimes it's impossible to tell if they are referring to the capital "B" or lower case "b",
so if you are ever unsure, be sure to ask so you can follow the conversation with clarity.
is the way to get going. Debits and Credits for long addition are no longer needed,
and their old role can be learned along the way experientially. If you don't know what Debits and Credits are, don't worry about that for now. Just keep going. You'll pick them up with time.
The word "bookkeeping" with a lower case "b" is a generic word that relates to any and all record keeping tasks when managing a business or when managing a household. Those would include "managerial and cost accounting" related tasks (like those in the Sales Systems you learned about) as well as "tax and financial accounting" related tasks. It's a generic reference to anything and everything related to keeping numbers related to your life or business in order.
The word "Bookkeeping" with a capital "B" is used when referring to a specific subset of the "tax and financial accounting process" where bank transactions are recorded in arrears and categorized in order to generate an Income Statement and a Balance Sheet. This is the "right side" of the "Business Process for Monthly Statements" flowchart you are familiar with now.
This lower case "b" thing and the upper case "B" thing is like the informal and formal YOU found in some foreign languages. It also may be similar to "tissue" vs "Kleenex" for those familiar with that example.
Obviously, when someone is talking, sometimes it's impossible to tell if they are referring to the capital "B" or lower case "b",
so if you are ever unsure, be sure to ask so you can follow the conversation with clarity.