AY Honors/Bookkeeping/Requirements

Bookkeeping

Authority:
Category:
Skill Level:
Year Introduced:

1. What is the difference between bookkeeping and accounting?

2. Define the following terms:

a. Asset

b. Liability

c. Credit

d. Debit

e. Posting

f. Trial balance

g. Voucher

h. Invoice

i. Interest

3. What is the difference between double-entry bookkeeping and single-entry bookkeeping?

4. What education is necessary to be a bookkeeper? What other education is helpful to a bookkeeping career?

5. What are some career fields that are related to bookkeeping?

6. Conduct an interview with your church treasurer, asking the following questions:

a. How much time do you spend each week at your job as church treasurer?

b. What do you do with the money collected in the offering plates?

c. How do you keep track of who contributed how much money?

d. What money is sent to the conference?

e. What money is kept in our local church?

f. Are your records ever reviewed by an accountant? How often?

g. How do you report the church finances to the church board?

h. How do you report the church finances to the conference?