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    Muslim Bookkeeping
    Muslim Bookkeeping
    Muslim Bookkeeping
    Ebook162 pages52 minutes

    Muslim Bookkeeping

    By Nice Ideas Press

    ()

    Read preview

    About this ebook

    Introducing Muslim Bookkeeping - Bookkeeping For Muslim Business Owners 

    Your Comprehensive Guide to Islamic Bookkeeping for Your Business

     

    Includes Gifts Just for You….

    1) Monthly Budget Template

    2) Financial Statement Templates

    3) Accounting Sheets

    4) Bonus Gift

     

    Are You ready…

    Dive into the world of accounting with confidence.

    Clear, concise, and easy-to-follow cheat sheets for all things accounting.

     

    Practical Understanding Made Easy:

    Simplified explanations for complex accounting concepts.

    Abundant practical examples to solidify your grasp of accounting principles.

     

    Navigate Entity Types:

    Unravel the intricacies of different entity types in the US.

    Gain insights into Sole Proprietorship, Partnership, C Corporation, S Corporation, LLC.

     

    Budgeting Brilliance:

    Harness essential budgeting theories to master financial planning

    Navigate through  theory of operating, capital, and master budgets, with some practical examples, also looking at Personal Budgeting.

    Unlock tax basics for Your Business

     

    Your Accounting Journey Awaits:

    Empower your financial literacy for personal and professional success.

    Gain a comprehensive toolkit for confident financial decision-making.

     

    Transform Learning with Ease:

    Empower yourself with practical knowledge in a user-friendly format.

    Enjoy a holistic understanding of accounting, budgeting, bookkeeping and taxes.

     

    Unlock Your Financial Potential Today:

    Discover new horizons of financial intelligence with real-world insights.

     

    Buy today...

    LanguageEnglish
    PublisherNice Ideas Press
    Release dateSep 29, 2023
    ISBN9798223891185
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      Book preview

      Muslim Bookkeeping - Nice Ideas Press

      Muslim Bookkeeping

      Bookkeeping For Muslim Business Owners

      Nice Ideas Press

      Kindly wait... please go to the end of this book to access Your free gifts... Digital downloads...

      A black and white gift box with a bow Description automatically generated

      4Gifts for You:

      1) Accounting Sheets

      2) Financial Statements Templates

      3) Monthly Budget Template

      4) Bonus Gift

      Copyright

      All rights reserved . This book or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the author except for the use of brief quotations in a book review.

      To request permission, contact the author at help@niceideas24.com.

      Copyright © 2023

      Nice Ideas Press

      Table of Contents

      Copyright

      Table of Contents

      About the Course

      Muslim Bookkeeping Introduction

      History of Accounting

      Modern Day Accounting Standards

      Key Terms and definitions

      Module 1: Introduction to Accounting

      1.1 Understand the importance of accounting in business and decision-making.

      1.2 Differentiate between Financial Accounting and Managerial Accounting and Bookkeeping.

      1.3 Learn about the accounting equation: Assets = Liabilities + Equity

      1.4 Ethical Considerations in Accounting

      1.5 Careers in Accounting

      Module 2: Types of Accounts

      2.1 Explore the three main types of accounts: Assets, Liabilities, and Equity

      2.2 Understand the nature of Debits and Credits in the accounting system

      2.3 Learn how transactions impact different account types – T Accounts

      2.4 More Examples of Transactions

      2.5 The Accounting Equation in Action

      2.6 Common Account Types

      2.7 The Chart of Accounts

      2.8 Trial Balance

      Module 3: Cash vs. Accrual Accounting

      3.1 Compare and contrast cash accounting and accrual accounting.

      3.2 Cash Accounting

      3.3 Accrual Accounting

      3.4 Impact on Financial Statements

      3.5 Choosing Between Cash and Accrual

      3.6 Entities Required to Use Accrual Basis Accounting

      3.7 Entities with the Option to Use Cash Basis Accounting

      3.8 Modified Cash Basis

      Module 4: Recording Transactions

      4.1 Discover the double-entry accounting system.

      4.2 Understand how to use T-accounts to record transactions.

      4.3 Learn the rules of debits and credits for different account types.

      4.4 Real-Life Examples of Transactions

      4.5 The Accounting Equation and Transactions

      4.6 Complex Transactions

      4.7 Analyzing Transaction Effects

      4.8 Principles of Trial Balance

      4.9 Errors and Corrective Steps

      Module 5: The Accounting Cycle

      5.1 Introduction to the Accounting Cycle:

      5.2 Steps of the Accounting Cycle

      5.3 Role of Each Step of the Accounting Cycle

      5.4 Interactions Between Steps

      5.5 Importance of the Accounting Cycle

      5.6 Automated Accounting Systems

      Module 6: Financial Statements

      6.1 Introduction to Financial Statements

      6.2 Principles of Financial Statements

      6.3 Understand the purpose and components of the Income Statement, Balance Sheet, and Cash Flow Statement

      6.4 Learn how these Financial Statements provide insights into a company's financial health

      6.5 Limitations of Financial Statements

      6.6 Importance of Accurate Reporting

      6.7 Additional Financial Reports

      6.8 Users of Financial Information

      Module 7: Understanding Inventory Management and Valuation

      7.1 Introduction to Inventory

      7.2 Perpetual and Periodic Inventory Systems

      7.3 Inventory Valuation Methods

      7.4 Impact on Financial Statements

      7.5 Inventory Turnover and Days on Hand

      7.6 Inventory Costing and Lower of Cost or Market

      Module 8: Adjusting Entries and Accrual Accounting

      8.1 Learn why adjusting entries are necessary

      8.2 Understand accrual accounting and how it differs from cash accounting.

      8.3 Explore common types of adjusting entries: accrued revenue, accrued expenses, prepaid expenses, and unearned revenue

      8.4 Adjusted Trial Balance

      8.5 Impact on Financial Statements

      8.6 Adjusting Entries and Cash Flows

      8.7 Benefits of Accrual Accounting

      Module 9: Closing Entries and the Post-Closing Trial Balance

      9.1 Introduction to Closing Entries

      9.2 Purpose of Closing Entries

      9.3 Steps in Closing Entries

      9.4 Closing Entries and the Accounting Equation

      9.5 Importance of Post-Closing Trial Balance

      9.6 Significance of Resetting Accounts

      9.7 Implications for Financial Statements

      9.8 Continued Use of Temporary Accounts

      9.9 Automated Closing Entries

      Module 10: Basic Financial Analysis

      10.1 Introduction to Financial Analysis

      10.2 Types of Financial Ratios

      10.3 Interpreting Ratios

      10.4 Trend Analysis

      10.5 Limitations of Financial Ratios

      10.6 Importance of Financial Analysis

      10.7 Additional Analysis Techniques

      Module 11: Introduction to Budgeting

      11.1 Explore the basics of budgeting and its role in financial planning.

      11.2 Learn about different types of budgets: operating budget, capital budget, and master budget.

      11.3 Steps in the Budgeting Process

      11.4 Benefits of Budgeting

      11.5 Challenges of Budgeting

      11.6 Importance of Flexibility

      11.7 Personal Budgeting

      Module 12: Financial Management and Analysis

      12.1 Introduction to Financial Management

      12.2 Financial Planning

      12.3 Financial Analysis

      12.4 Financial Control

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