JD Chazan CPA,CA
Training
It may be useful for family members (the next generation) to take a basic bookkeeping or accounting course to get an understanding of what's going on. It's always better to have that basic knowledge as it allows us to ask questions. More importantly, we can understand the answers. The idea is not to become an expert, but to know enough to make sure that everything is being done properly.
Introduction to Financial Accounting:This is a six module course going through the basic concepts that we need to understand our accounting. Each module will take you about three hours to complete and includes a quiz at the end of each module to test your comprehension of the concepts discussed.
This program is suitable for those who have little or no accounting knowledge and would like to have a basic understanding of accounting. Call it an entry level program. Cost of this program per participant is $750.00 plus HST. You will need to purchase your own course materials. The course is an intensive course that will require a significant time commitment. The course will be delivered online. Questions can be asked by email, telephone or Skype.
A Case Study: This is a very useful tool for those wanting to work through the accounting cycle. You'll need to start with events and decided which need to be recorded in the books. After that you will need to post the transactions and run them through the books to produce a trial balance. The next step will be the completion of a set of financial statements. The case is completed by looking at a series of financial ratios and writing a report to on the financial condition of the family. This will involve a lot of self-study. The end product will be reviewed, graded and discussed by with preparer on a one by one basis.
The participants will have six weeks to complete the case. Cases will vary slightly from each other and collaboration or team work (online or in person) is encouraged. Each indivdual will, however, need to submit their own completed case. Cost of this program per participant is $1,250 plus HST. You will need to purchase your own course materials. The course is an intensive course that will require a significant time commitment. This is a self study course but questions will be answered by email, telephone call or by way of Skype. It is intended to give participants an understanding of financial statements.
