Course Description

In this basics course, we will discuss the nuts and bolts of accounting. We will talk about the different types of accounts, as well as what it means to be “in-balance.” We will also give an introduction to debits and credits, and why it is important to know what an account’s natural balance is. If you want to do your own bookkeeping or just want to get more familiar with financial and accounting records, this is the place to start!

Learning Objectives

  • State the components of the Accounting Equation.

  • Recognize what it means for the books to be “in balance.”

  • Identify natural account balances for assets, liabilities, and equity accounts.

Additional Required Materials

  • Level: Basic

  • Field of Study: Accounting

  • Who Should Attend: Small business owners who want to better understand financial and accounting records, as well as bookkeepers who are just getting started.

  • Required Knowledge: None

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.