LERN 1710: General Ledger and Month End Procedures
Effective date
March 2021
Department
LERN UGotClass
School
Continuing Studies
Description
In this course, you will learn how to post journal entries to the correct general ledger accounts impacted by each transaction. This course will show you how to make sure your general ledger balances at the end of each month by preparing an unadjusted trial balance. You will learn how to look for errors when you don’t balance, and how to determine to correct entries. After posting correcting entries and/or adjusting entries, you will verify debits and credits equal with an adjusted trial balance. This course also goes through the steps of performing monthly bank reconciliations.
This course is offered in partnership with Learning Education Resource Network - UGotClass. For more information see http://yougotclass.org/index.cfm/VCC
Year of study
General Interest
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Post journal entries to the general ledger accounts
- Prepare an unadjusted trial balance
- Prepare any necessary correcting entries and adjusting entries
- Prepare an adjusted trial balance to verify general ledger balances
- Perform monthly bank reconciliations
Prior Learning Assessment & Recognition (PLAR)
None
Hours
Lecture, Online, Seminar, Tutorial: 16
Total Hours: 16
Grading System
Satisfactory/Unsatisfactory
Passing grade
S - based on:1. Make at least one comment every week in the discussion.
Course topics
- The General Ledger
What is the General Ledger
Why must the general ledger balance
Posting to the general ledger
Activity ~ Posting to The General Ledger
- The Unadjusted Trial Balance
What is the unadjusted trial balance
Verify debit and credit balances
Finding errors
Activity ~ Find The Errors
- Correcting Entries and Adjusting Entries
Determine correcting entries
Adjusting entries and how to prepare them
Posting correcting entries and adjusting entries to the general ledger
Activity ~ Preparing Entries and Posting to General Ledger
- The Adjusted Trial Balance
Verify the accuracy of the adjusted trial balance
Prepare monthly bank reconciliations
Activity ~ Prepare a Bank Reconciliation
Notes:
- Course contents and descriptions, offerings and schedules are subject to change without notice.
- Students are required to follow all College policies including ones that govern their educational experience at VCC. Policies are available on the VCC website at:
https://www.vcc.ca/about/governance--policies/policies/.
- To find out if there are existing transfer agreements for this course, visit the BC Transfer Guide at https://www.bctransferguide.ca.