ACCOUNTING SERVICES COURSE OUTLINE

You get everything you need to know in easy-to-understand lessons, supplements and special learning aids. You progress step-by-step from the basics of bookkeeping into advanced training in accounting and professional accounting services. This gives you a preview of what you will learn.

Click on the instruction links below for complete course content.

Instruction Pack 1
Instruction Pack 2
Instruction Pack 3
Instruction Pack 4
Instruction Pack 5

Accounting Services Instruction Pack I  Back to Top

Getting Started: Course Introduction and Overview
You’ll learn how accounting needs vary from one business
to another. You’ll discover what services are typically
required by small businesses as well as non-profit
organizations and individuals. You’ll be given a valuable
comparison between in-house and at-home accounting
services and the benefits of each. We’ll explain
USCI’s Accounting Services Course methodology.

Accounting Services Explained
You’ll gain insight into the accounting cycle and the
basic concepts of a “record of transaction” and “financial
picture of a business.” Additionally, you’ll be introduced
to many accounting concepts, including accounts,
posting, journals, debits, credits, balance sheets, operating
statements, assets and liabilities.

Accounting Services Equations
You’ll learn about the accounting equation and the net
income formula, plus the components of a balance sheet
and operating statements. You’ll get hands-on practice
reviewing a balance sheet, doing net income exercises
and completing an operating statement exercise.

The Accounting Cycle
You’ll be introduced to the steps of the accounting cycle,
including entering transactions, journalizing, posting,
preparing trial balances, completing worksheets, preparing
financial statements, making adjustments and
closing the books. Then you’ll learn how each step fits
into the big picture.

The Journal and Entry Systems
You’ll learn about “The Book of Original Entry,” debits
and credits, T-accounts, double and single-entry systems,
account balances, compound entries, completing
the journal and entering debits and credits.

The Ledger
You’ll discover the difference between a ledger and a
journal and get practice formatting ledger accounts, ledger
T-accounts, posting and cross-referencing, finding
common errors and arriving at a balance.

Also included in Pack I:
• Course Introduction
• The Business Math Tutor, Part 1
• What Our Graduates Are Saying Supplement
• Quick Reference Chart for Debits and Credits
• You Can Do It! CD
• Pocket Calculator


Accounting Services Instruction Pack II  Back to Top

Accounts Receivable
You’ll learn how to prepare invoices and deal with purchases on account versus cash purchases plus subsidiary ledgers, accounts receivable ledgers and controlling accounts. You’ll also learn about the schedule of
accounts, preparing statements, crediting payments, aging accounts receivable and dealing with charge-offs and returns.

Accounts Payable
You’ll receive instruction on the accounts payable ledger and dealing with creditors plus preparing invoices, purchase orders and 1099 forms.

Financial Statements
You’ll learn about the operating statement and its relationship to the balance sheet. You’ll also learn how to read a net income statement and the basics of a capital statement.

Specialized Journals
You’ll learn about the sales journal, sales returns and allowances journal, cash receipts journal, cash payment (disbursement) journal and purchases journal.

Depreciation and Merchandising and Sales Tax
You’ll gain a solid understanding of depreciation, merchandising accounts, the basics of inventory, determining value, wholesale cost, retail value, returned goods, purchase discounts and finalizing the operating statement. Finally, you’ll learn how to handle sales tax.

The Worksheet
You’ll learn the ins and outs of formatting a worksheet and debiting and crediting balance sheet items. You’ll know how to fill it out properly, check the numbers and journalize adjusted entries.

Also included in Pack II:
• The Business Math Tutor, Part 2
• Accounting Services Forms Kit, Part 1
• Professional Development, Part 1
• How to Read a Balance Sheet Supplement
• How to Read an Operating Statement Supplement


Accounting Services Instruction Pack III  Back to Top

Closing the Books
You’ll learn to close financial books for a set period of time, bring accounts to zero, balance the income summary, adjust the capital account, adjust the owner’s draw, post the closing trial balance, correct errors and
file income summary reports.

Banking
This lesson covers the various types of bank accounts businesses and individuals use—how to access accounts with checks and deposit slips and how to read, reconcile and make adjustments on bank statements. Then you’ll learn how to calculate and record interest, plus uses of
the promissory note and its support documents.

Payroll Records
You’ll learn all about payroll records—the distinction between employees and contractors, how to deal with taxes and benefits, report wages and tax withholdings, use the payroll register, enter payroll on the books and
compute gross wages, payroll deductions and withholding taxes.

Payroll Processing
You’ll get hands-on practice processing payroll forms, including W-4 and W-2 forms. You’ll learn how to complete federal and state withholding deposits, an employer’s federal tax return, form 940 (FUTA) tax return, form
941, form W-3 and unemployment taxes. Then you’ll practice, using comprehensive payroll simulations.

Computerized Accounting Services
This lesson will explain the types of accounting software available and provide an overview of their uses. You’ll learn how accounting concepts are applied in software packages. You’ll also learn how Accounting Services Specialists use spreadsheets.

Also included in Pack III:
• The Business Math Tutor, Part 3
• Accounting Services Forms Kit, Part 2
• Computers - Buyer's and User's Guide
• Professional Development, Part 2


Accounting Services Instruction Pack IV  Back to Top

Daily Accounting/Bookkeeping Concepts
You’ll learn daily concepts used—cash accounts, cash sales, cash receipts, collections, receipts, petty cash, petty cash funds, vouchers and the petty cash journal.

Tax Preparation I
This lesson teaches you how to compute sales tax and discusses legal and ethical issues. You’ll also learn how to prepare federal tax forms.

Tax Preparation II
You’ll get instruction and hands-on practice preparing Schedules A through E. You’ll review the use of the W-2 and 1099 forms and learn how to get started with state tax preparation.

Also included in Pack IV:
• How to Juggle Work and Family Supplement
• Leather Business Card Holder


Accounting Services Instruction Pack V  Back to Top

Partnerships, Corporations and Non-Profit Organizations
You’ll learn the difference between partnerships, corporations
and non-profit organizations. You’ll learn how to account for a partner’s share in assets and liabilities, how to prepare partnership balance sheets, how to deal with corporate financial issues such as corporate stock
options and dividends and how to work with non-profit organizations.

Discounts, Reversing Entries and Allowances
This lesson teaches you the concepts of discounting, reversing entries and making allowances. Also, it prepares you to properly set up the books for a business.

Sole-Proprietorship Business Project
This lesson provides a comprehensive accounting services simulation
in which you will perform all the necessary tasks to keep accurate
records for a sole-proprietor service business. This includes maintaining
the journal, ledger and payroll records, issuing and recording
checks, reconciling and adjusting bank statements and completing necessary tax forms.

Also included in Pack V:
• Quicken® Basic Software
• Accounting Services Jobs Finder