Building on foundational bookkeeping knowledge, the Bookkeeping Level 2 course is designed for students seeking to deepen their knowledge of financial record-keeping and reporting. This course provides advanced skills necessary for accurate and efficient bookkeeping, focusing on both theoretical understanding and practical application. This course is ideal for those who have completed Bookkeeping Level 1. Upon completion, students will be well-prepared to handle more advanced bookkeeping tasks and contribute effectively to financial management and decision-making processes within an organization or business.

Note: For this course specifically, all work is done by hand and not using accounting software.

Prerequisite: Completion of Bookkeeping Fundamentals Level 1 (ACCT 003 or BOOK CE01)

Learning Outcomes

• By the end of the course, students will be able to:
• Format and complete a trial balance
• Record adjusting entries
• Calculate depreciation using the straight-line & double-declining method
• Prepare an income statement & balance sheet
• Prepare a statement of retained earnings
• Identify the sections of a statement of cashflow
• Record closing entries
• Describe an appropriate internal control procedure
• Prepare a bank reconciliation
• Calculate employer and employee payroll taxes
• Record journal entries for payroll
• Calculate sales tax and record necessary journal entries
• Describe a computerized accounting system