This course will focus on the importance of performing the bank reconciliation process and how to complete a bank reconciliation.
We will include many example problems, both in the format of presentations and Excel worksheet problems. The Excel worksheet presentations will include a downloadable Excel workbook with at least two tabs, one with the answer, the second with a preformatted worksheet that can be completed in a step-by-step process along with the instructional videos.
Cash management is a critical component to financial planning and taxes are a material part of cash management.
Learners will understand basic money management strategies and tax planning strategies. We will discuss the difference between a marginal tax rate and an average tax rate and how to use the appropriate tax rate when making financial plans
The course will also cover the differences between a tax deduction and a tax credit, an important distinction when doing tax planning.
Learners will know the different tax preparation options and understand which options may be best under different financial circumstances.
We will also be able to list and explain different financial services and the financial institutions that provide them, allowing us to make good decisions about which financial services to use and which financial institutions to work with.
The course will discuss the importance of reconciling the bank account, the bank reconciliation process being a big internal control over cash.
The purpose of the bank reconciliation is not just to make sure our ending cash balance is correct, but also to check that we have recorded the activity correctly.
Cash is the lifeblood of a business and of our financial activities. When thinking in terms of the double entry accounting system, cash will impact every financial cycle, meaning it will impact our revenue generation, our purchases, and our expenses, whether personal our business.
Therefore, the surer we are about the correctness of our cash transactions the surer we are about the correctness of our revenue, purchases, and expenses.
The bank reconciliation process will match our bookkeeping related to cash to the banks bookkeeping related to cash, giving us an external verification that the activity recorded is correct.
Everything You Need to Know About Personal Finance #3–Financial Services & Bank Reconciliation
This course is a comprehensive and well-structured introduction to Personal Finance #3–Financial Services & Bank Reconciliation. The instructor, Robert (Bob) Steele, is a leading expert in the field with a wealth of experience in Finance & Accounting to share.
The course is well-structured and easy to follow, and the instructor does a great job of explaining complex concepts in a clear and concise way.
The course is divided into sections, each of which covers a different aspect related to Other Finance & Accounting. Each module contains a series of video lectures, readings, and hands-on exercises.
The instructor does a great job of explaining each topic in a clear and concise way. He/She also provides plenty of examples and exercises to help students learn the material.
One of the things I liked most about this course is that it is very practical. The instructor focuses on teaching students the skills and knowledge they need to succeed in the real world. He/She also provides students with access to a variety of resources, including templates, checklists, and cheat sheets.
Another thing I liked about this course is that it is offered on Udemy. Udemy is a great platform for taking online courses because it offers a lot of flexibility for students. Students can choose to take courses at their own pace, and they can access the course materials from anywhere with an internet connection.
Udemy also offers a variety of payment options, so students can find a plan that works for them. The course also has a very active community forum where students can ask questions and interact with each other. The instructor is also very responsive to student questions and feedback.
Overall, I highly recommend this course to anyone who is interested in learning Personal Finance #3–Financial Services & Bank Reconciliation. It is a well-organized and informative course that will teach you the skills and knowledge you need to succeed.
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