Bookkeeping – You are a Bookkeeper Now (Lesson 28)

Congratulations, you are now as qualified as a bookkeeper as those with two or less years of experience.

After having read the first 27 lessons and if you feel that you have grasped the concepts conveyed; then you are more qualified than most bookkeepers.

There really is no undergraduate degree program for bookkeeping. Nobody has a college diploma from an accredited institution for bookkeeping; accounting yes, bookkeeping no. There are some programs in community colleges. They teach basic accounting principles, dual entry, payroll and lightly touch on the chart of accounts. But none of them approach the subject matter from the perspective of the six account types like this series did with Lessons 1 through 11.

Almost three quarters of all bookkeepers are trained via on the job learning. Here, somebody helps the new bookkeeper learn all of the above. This volume covered the same aspects of accounting. The first 27 lessons explained the concepts of bookkeeping and underlying fundamentals involved. Basically the ‘Why’ of accounting was explained.

 

The next group of lessons get involved in the ‘How’ aspect of bookkeeping. They are going to cover the daily routines, weekly requirements and monthly closings. In addition, they go into detail about running a payroll, paying bills and complying with federal deadlines.

The daily operations series consist of 42 lessons and when done you will know more than any bookkeeper. The only part missing is experience. No matter who you work for; you will be well prepared.

After the daily operations series there is another a set of lessons for advanced issues. These are common problems for accountants and are rarely if ever handled by bookkeepers. If you should decide to read and understand them then you will be more of an accountant than a bookkeeper.

No matter your course of action, there are in-depth articles available to you at this website, businessecon.org. You are free to access them for reference or to simply review for affirmation of your thinking.

There is a constant need for bookkeepers, some even do well financially. I wish you well and send me an e-mail to dave(use the standard ‘at’ symbol)businessecon.org. Tell me how this works for you and ask questions; I’m happy to help. ACT ON KNOWLEDGE.

Value Investing

Do you want to learn how to get returns like this?

Then learn about Value Investing. Value investing in the simplest of terms means to buy low and sell high. Value investing is defined as a systematic process of buying high quality stock at an undervalued market price quantified by intrinsic value and justified via financial analysis; then selling the stock in a timely manner upon market price recovery.

There are four key principles used with value investing. Each is required. They are:

  1. Risk Reduction – Buy only high quality stocks;
  2. Intrinsic Value – The underlying assets and operations are of good quality and performance;
  3. Financial Analysis – Use core financial information, business ratios and key performance indicators to create a high level of confidence that recovery is just a matter of time;
  4. Patience – Allow time to work for the investor.

If you are interested in learning more, go to the Membership Program page under Value Investing section in the header above. 

Join the value investing club and learn about value investing and how you can easily acquire similar results with your investment fund. Upon joining, you’ll receive the book Value Investing with Business Ratios, a reference guide used with all the decision models you build. Each member goes through three distinct phases:

  1. Education – Introduction to value investing along with terminology used are explained. Key principles of value investing are covered via a series of lessons and tutorials.
  2. Development – Members are taught how pools of investments are developed by first learning about financial metrics and how to read financial statements. The member then uses existing models to grasp the core understanding of developing buy/sell triggers for high quality stocks.
  3. Sophistication – Most members reach this phase of understanding after about six months. Many members create their own pools of investments and share with others their knowledge. Members are introduced to more sophisticated types of investments and how to use them to reduce risk and improve, via leverage, overall returns for their value investment pools.

Each week, you receive an e-mail with a full update on the pools. Follow along as the Investment Fund grows. Start investing with confidence from what you learn. Create your own fund and over time, accumulate wealth. Joining entitles you to the following:

  • Lessons about value investing and the principles involved;
  • Free webinars from the author following up the lessons;
  • Charts, graphs, tutorials, templates and resources to use when you create your own pool;
  • Access to existing pools and their respective data models along with buy/sell triggers;
  • Follow along with the investment fund and its weekly updates;
  • White papers addressing financial principles and proper interpretation methods; AND
  • Some simple good advice.

Value Investment Club

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