Operations for Small Business

Course code SMBU 1203

Credit 1.0

Length 15.0 hours

Course outline View

Students acquire a basic understanding of bookkeeping and accounting for the operation of a small business. Students will learn bookkeeping procedures such as the double-entry system, and will become familiar with financial statements, accounting terms and concepts for businesses small and large. Students will learn how to record business transactions from start to finish as part of the accounting cycle.

Prerequisites

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What you will learn

  • Definitions: bookkeeping, accounting, ledger account
    Categories of accounts: assets, liabilities, revenues, expense and owner’s equity
    Debit and credit as used in bookkeeping
    Recording transactions
    General journal and general ledger
    Trial balance: preparing trial balance, locating errors
    Basic steps in accounting cycle
    Net income, revenue, expense and the time period principle
    Matching and realization principles in recording revenue
    Prepare an income statement and statement of owners’ equity
    Adjusting entries: four basic types of adjusting entries

How to register

This course is offered as part of a VCC program only.

Course schedules

Select your program to see the available course schedules.

Contact us

If you have any question, please email at advising@vcc.ca.

† This information is intended as a guideline only. Program and course details are subject to change with the approval of VCC's Board of Governors.

Indigenous Territory Acknowledgment

VCC is located on the traditional territories of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) peoples, and we acknowledge our privilege to be here.