Certified Bookkeeper (AIPB)

Course Description:

 This course will help you ascertain nationally recognized certification as a Professional Bookkeeper under the American Institute of Professional Bookkeepers (AIBP). Some of the topics covered in this course include the mastery of payroll, fraud prevention, and inventory management.

Course Objective:

Upon Completion of this course, students will be able to record salaries of employees, calculate employer/employee payroll expenses, recite several internal controls in which to deal with fraud and fraud prevention, differentiate between perpetual and periodic methods of accounting, as well as recognizing and correcting various accounting errors from banks statements, ledger cash accounts, accrued expenses accrued revenues, deferred expenses, and deferred revenues.

Prerequisites:

High School Diploma or Equivalent and 2 years of bookkeeping experience required

Course Content

Mastering Payroll
1. Employees V. Nonemployees
2. Federal and state Wage-Hour Law
3. Paying Employees Under Federal Law
4. Employment Records and Payroll Recordkeeping
5. Employee Data: Form W-4 and State Withholding Allowance Certificates
6. How Employers Withhold and Deposit Federal Taxes
7. Federal Employment Reporting Forms and Due Dates
8. When Wages Become Taxable
9. Other Reporting Rules
10. Payroll Entries
Mastering Internal Controls and Fraud Prevention
1. How Dishonest Employees Steal Inventory
2. How to Prevent – or Spot Employee Theft
3. Check Fraud
4. Credit Card Fraud
5. How Vendors Cheat You
Mastering Inventory
1. Introduction to Accounting for Inventory
2. Inventory Recordkeeping Using the Perpetual Method
3. Inventory Recordkeeping Using the Periodic Method
4. Inventory Costing: The Weighted-Average and Moving-Average Methods
5. Inventory Costing: Using the FIFO Method
6. Inventory Costing: Using the LIFO Method
7. Inventory Costing: Using the Lower of Cost or Market Rule
Mastering Depreciation
1. Depreciation of the Financial Statements V. Tax Return
2. Depreciation Under GAAP (For Book Purposes)
3. The Straight-Line Method of Depreciation
4. The Units of the Production Method of Depreciation
5. The Declining Balance Method of Depreciation
6. The Sum-of-the-Years’-Digits Method of Depreciation
7. Depreciation Under Federal Income Tax Depreciation Rules
8. Tax Depreciation of Vehicles
Mastering Adjusting Entries
1. Why We Use Accruals, Deferrals and Other Adjustments
2. Accrued Revenue
3. Accrued Expenses (Accrued Liabilities)
4. Revenue Collected in Advance (Unearned Revenue)
5. Prepaid (Deferred) Expenses
6. Other End-of-Period Entries
7. From Unadjusted Trial Balance to Financial Statements
8. Applying Your Knowledge to the Trial Balance
Mastering Correction of the Accounting Errors
1. Where Errors Occur and How They Are Found
2. Finding and Correction Errors Using the Unadjusted Trial Balance
3. Correcting Current Period Accrual Errors
4. Correcting Current Period Deferral Errors