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Conclusion and Review

In this course, we covered the following:

  • Accounting Methods
  • Chart of Accounts
  • Financial Statements
  • Taxes and Tax Terms

Also, be sure to download the infographics found with this lesson to help review these concepts after you've completed the course.

Moving Forward

You might ask yourself, "Where should I go from here?"

If you're a small business owner:

  • Consider partnering with an accountant or bookkeeper
  • Work with a business mentor - If you're in the United States, check out score.org to look for helpful mentors.

If you're part of an accounting or finance team:

  • Deepen your knowledge so you can answer common client questions
  • Take courses on subjects of interest to you - Note: you don't need to learn everything!
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  • 00:04 Congratulations for finishing this and thank you for taking my course.
  • 00:09 I hope this has been beneficial and I hope you learned a lot.
  • 00:12 I hope you continue your learning journey as GoSkills has many,
  • 00:16 many amazing courses.
  • 00:18 In this course, we have covered accounting methods,
  • 00:22 chart of accounts, financial statements, taxes and tax terms.
  • 00:27 With that in mind,
  • 00:28 I've worked with a graphic designer to create a set of infographics.
  • 00:32 These infographics are available for you to download and review at any time.
  • 00:37 The purpose behind them is to remind you of the fundamentals.
  • 00:41 Now that you have a better understanding of these terms, reports, and concepts,
  • 00:45 the question might come to mind, where can you go from here?
  • 00:49 If you're a small business owner,
  • 00:51 it's a great idea to partner up with an accountant and/or a bookkeeper.
  • 00:55 In addition to that, I recommend getting a business mentor.
  • 00:59 If you don't already have a mentor and
  • 01:01 you're in the US, you can get one from score.org.
  • 01:05 Score is the nonprofit arm of the SBA.
  • 01:08 The Score mentors volunteer their time to help small businesses,
  • 01:12 such as yours and mine.
  • 01:14 Often what they can do is point you in the right direction and
  • 01:17 help you think about things that you might need to know,
  • 01:21 fill out, or prepare for as your business grows.
  • 01:24 If you're a part of an accounting or finance team,
  • 01:26 I encourage you to deepen your knowledge as you'll probably be asked to dive into
  • 01:31 these reports and answer questions for your clients.
  • 01:34 Questions like, how much cash do we have or
  • 01:37 how much will we have after we pay off our bills?
  • 01:40 What would our cash situation look like if we added an employee or bought equipment?
  • 01:45 How much of a difference would it make if we were to collect the receivables sooner
  • 01:50 or pay our payables a little bit later?
  • 01:52 I recommend taking additional courses based on the information that you want to
  • 01:57 learn more about based on the specialty you want to go into.
  • 02:01 It's not practical to know all the things or do all the things,
  • 02:04 but you certainly can take a look and say, I really enjoy this one aspect,
  • 02:09 I'm going to go deep on that.
  • 02:10 I really appreciate you watching this course and
  • 02:13 I think future you will appreciate that you took the time to learn and
  • 02:16 develop a little bit more of your skills.
  • 02:19 I wish you all the luck in your future endeavors.
  • 02:21 Happy learning.

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