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Updated in [June 30th, 2023]

This course, Bookkeeping Basics #2: Understand The Mechanics, provides an overview of the fundamentals of bookkeeping and accounting. Participants will learn the meaning of debits and credits and how to use them when recording transactions. The course will also cover the basics of double-entry bookkeeping and how to use it to maintain accurate financial records. By the end of the course, participants will have a better understanding of the mechanics of bookkeeping and accounting and be able to apply the concepts to their own business.

[Applications]
After completing this course, students should be able to apply the concepts of debits and credits to their own bookkeeping and accounting practices. They should be able to accurately record transactions and understand the implications of each type of entry. Additionally, students should be able to use the double-entry bookkeeping system to ensure accuracy and completeness in their records. Finally, students should be able to use the information they have recorded to create financial statements and other reports.

[Career Path]
One career path that this course could lead to is that of a bookkeeper. A bookkeeper is responsible for maintaining financial records, such as accounts receivable and payable, payroll, and other financial transactions. They are also responsible for preparing financial reports, such as balance sheets, income statements, and cash flow statements. Bookkeepers must be able to accurately record and track financial data, as well as have a good understanding of accounting principles.

The development trend for bookkeepers is that they are increasingly being asked to do more than just record financial data. They are now expected to be able to analyze financial data and provide insights into the financial health of a business. They are also expected to be able to provide advice on how to improve the financial performance of a business. As technology advances, bookkeepers are also expected to be able to use software to automate and streamline their work. This means that bookkeepers must be able to understand and use technology to their advantage.

[Education Path]
The recommended educational path for learners interested in bookkeeping and accounting is to pursue a degree in accounting. This degree typically requires a minimum of 120 credit hours and includes courses in financial accounting, managerial accounting, auditing, taxation, and business law. Students will also learn about financial statement analysis, cost accounting, and financial management. Additionally, students will gain an understanding of the principles of accounting and the role of accounting in business operations.

The development trend of accounting degrees is to focus on technology and data analytics. This includes courses in data mining, data analysis, and data visualization. Additionally, students will learn about the use of artificial intelligence and machine learning in accounting. This will help them to better understand the data and make more informed decisions. Additionally, students will learn about the ethical implications of accounting and the importance of ethical decision-making.