This hands-on workshop is tailored to equip entrepreneurs with essential accounting knowledge and skills for business success. Session led by 1921 Sankofa, the session will cover core accounting principles, financial tracking, and reporting. Through guided activities led by Wally Bryce and John Weaver, participants will receive real-time support and gain confidence in managing their business finances.
Accounting 202 Objective:
Building on Accounting 101, participants will be introduced to how modern accounting systems like QuickBooks produce Financial Statements. High level understanding of cash basis accounting with a limited introduction to accrual accounting and why those are different and important. We will also introduce, at a very high level, the concept around Generally Accepted Accounting Principles (GAAP Accounting) and why it's important to understand.
By the end of the class participants will understand basic cash accounting terms and how they relate to QuickBooks. Participants will also be introduced to accrual accounting and a very brief and limited introduction to Generally Accepted Accounting Principles (GAAP Accounting).