Accounting Coach Review – Is This A Good Bookkeeping Course?

Accounting Coach reviewIf you enjoy details and numbers, becoming a bookkeeper is a viable career choice. This career allows you to help companies to maintain their financial health so that they can work toward success.

The Accounting Coach bookkeeping course is a good choice to learn how to become a proficient bookkeeper. It teaches you all of the fundamentals necessary to carry out the daily duties of a professional bookkeeper.

This Accounting Coach review covers all of the elements of this course. Learn more about why you should become a bookkeeper and how this Accounting Coach course can help you to accomplish your goals. Once you complete this Accounting Coach review, you will be able to easily determine if it is the best program for your goals.

Why Bookkeeping is a Viable Career Choice

Many careers are being taken over by technology. While there is a wealth of software and other technology options that make bookkeeping easier, there will always be a need for humans to calculate the numbers and ensure that a company’s financial health is accurate.

Bookkeepers with the right training can find jobs in almost any industry that they choose. For example, you may want to work for a startup, or you could provide your services to a medical or law office.

Bookkeeping is a flexible career option. You can choose to work for a company as an employee and only focus on tackling the bookkeeping duties for them. There is also a strong market for bookkeepers who want to work on a freelance basis. This allows you to have multiple clients that you work for as an independent contractor so that you have some freedom in your career.

Experienced bookkeepers may also choose to start their own bookkeeping business. With this option, you can provide your services to several companies. You might choose to work with a variety of companies, or you can specialize in a specific industry.

What is the Accounting Coach Bookkeeping Course?

This Accounting Coach course started in 2003. The goal was to help people to refresh, deepen or learn the bookkeeping trade. It is open to people all throughout the world. In 2007, this website launched Accounting Coach Pro. Accounting Coach Pro Plus was introduced in 2017.

The general Accounting Coach program includes over 30 topics that explain bookkeeping principles and fundamentals. You receive all of the materials that you need to complete the course, including quizzes, Q&A, explanations about the topics and more. Once you complete this course, you have the knowledge necessary to work an entry-level job as a bookkeeper.

The Accounting Coach Pro program is a premium option. It includes a variety of materials, such as visual tutorials, business forms, interactive quick tests, seminars and other related items.

Accounting Coach Pro Plus includes everything that you get with the regular Pro plan. However, you can also pursue four achievement certificates, including:

  • Adjusting Entries
  • Working Capital
  • Debits and Credits
  • Financial Statements

To obtain these certifications, you will take examinations after studying the material. You must earn at least 70 percent on each examination to get the achievement certificate.

All of the program options come with lifetime access to the information. This allows you to go back to review the material at any time when you need a refresher on certain topics.

Who Created Accounting Coach?

Harold Averkamp created the Accounting Coach bookkeeping course. He has his Master’s in Business Administration (MBA) from Northwestern University and has experience working as a Certified Public Accountant (CPA). For more than 25 years, he has worked as a professor of accounting at the University of Wisconsin – Whitewater, a consultant and an accountant.

Harold’s consulting experience was with multiple small business throughout the country, including those in the service, retail and manufacturing industries. In an accountant capacity, he worked for a major US corporation as a theory accountant.

All of the materials that come with this Accounting Coach program were authored by Harold. His son Matthew assists him with the Accounting Coach website.

A Look Inside the Accounting Coach Program Bookkeeping Course

Accounting Coach Bookkeeping Course

This Accounting Coach review section looks at the course content so that you can see what you will learn as you go through the program. The Accounting Coach bookkeeping course is comprehensive, providing you with a wealth of knowledge and materials to reinforce what you are learning.

This program is self-paced no matter which of the plans you choose to pursue. This allows you to work through the Accounting Coach program at your own pace so that you are not rushed to learn the material. You can access the program 24/7 so that you can study on your own time.

The core Accounting Coach program for bookkeepers comes with the following:

  • 13 units of learning material
  • Q&A
  • Practice quiz
  • Crossword puzzle
  • Word scramble

The Accounting Coach Pro plan includes:

  • Seminar videos (two videos)
  • Visual tutorials
  • Quick tests that include coaching
  • PDF files (all core materials come in a PDF version)
  • Progress tracking
  • Flashcards (these cards cover approximately 500 bookkeeping and accounting terms)
  • Quick tests
  • Cheat sheets
  • Business forms (85 forms)

There are over 1,800 test questions that you can complete as you progress through the course.

The Accounting Coach Pro Plus plan includes:

  • All of the Accounting Coach Pro plan resources
  • Four certificates that you can take tests to obtain

The Accounting Coach Program for Bookkeepers

This program is broken down into 13 units. It is important that you start with the first part and go in order since all of the information builds on what you reviewed in the previous units.

Part One

The first section introduces you to bookkeeping. It defines what it is and how bookkeeping tasks can differ depending on the size of the company. This section also provides you with information about the history of bookkeeping so that you can see how things have changed over the years.

Part Two

This part of the program focuses on the accrual method. Most companies use this method because the reporting is more complete and realistic. In this section, you will also get a detailed comparison that shows you how the accrual and cash methods stack up against each other. Other information in this section includes:

  • Payables and expenses
  • Receivables and revenues
  • Net income

Part Three

Here you will learn about credits and debits. It defines both of these as they relate to the field of bookkeeping. You will also get information about double-entry bookkeeping and how credits and debits relate to this bookkeeping practice. This section will also provide you with the details about T-accounts, what they are and how you can use them when working with credits and debits.

Part Four

General ledger accounts are the focus of this section. You will explore the seven classifications associated with general ledger arrangement, including:

  • Liabilities
  • Operating revenues
  • Non-operating gains and revenues
  • Assets
  • Stockholder’s equity
  • Operating expenses
  • Non-operating losses and expenses

Other information you learn about includes:

  • Income statement accounts
  • Balance sheet accounts
  • Chart of accounts

Part Five

This section delves deeper into credits and debits. The knowledge that you gained in section three is added to here. You will explore the accounting equation and how it works when you are working with credits and debits. They provide visual resources in this section so that it is easier to separate the two concepts and so that you can see how they work together.

Part Six

Asset accounts are the focus of this section. You will learn about the three primary classifications, including liabilities, assets and stockholder’s equity. They also provide descriptions of a wealth of asset accounts that you work with as a professional bookkeeper, including:

  • Cash
  • Accounts receivable
  • Accrued receivables and revenues
  • Inventory
  • Long-term investments
  • Buildings
  • Vehicles
  • Accumulated depreciation
  • Short-term investments
  • Allowance for doubtful accounts
  • Prepaid expenses
  • Supplies
  • Land
  • Equipment
  • Furniture and fixtures

Part Seven

Part seven looks at the equity of stockholder’s accounts and liabilities. They introduce you to multiple types of liability accounts:

  • Long-term debt current portion
  • Accrued expenses
  • Installment loans payable
  • Short-term loans payable
  • Accounts payable
  • Deferred to unearned revenues
  • Mortgage loans payable

For stockholder’s equity accounts, you will learn about the following:

  • Paid-in capital
  • Retained earnings
  • Common stock
  • Paid-in capital when there is an excess of par value

It shows you how the two concepts play into one another. This ensures that you have good foundational knowledge of this topic.

Part Eight

Here you will get the details about income statement accounts. They describe the four primary classifications for this statement, including:

  • Operating expenses
  • Other loss and expenses
  • Operating revenues
  • Other gains and revenues

You will see how all of these work together when you are working with income statement accounts. This ensures that you can spot errors if they occur.

Part Nine

This section explores two concepts, including bank reconciliation and recording transactions. Recording transactions shows you the following:

  • Accounts payable
  • Sales on credit
  • Check writing
  • Payroll

The bank reconciliation section covers the process and why it is important. It also shows you different reasons why there may be differences between the general ledger and a company’s bank balance.

Part 10

This section is focused on entries and reversing and adjusting them. It tells you about situations when you may need to adjust entries and provides some real-world examples. You also learn about the types of adjusting entries and the steps you need to take the make the adjustments.

For reversing entries, you learn about accrued expenses and revenues. It also covers how these two processes work together.

Part 11

Income statements and balance sheets are the focus of this section. For balance sheets, you get the following information about balance sheet classifications:

  • Investments
  • Intangible assets
  • Current liabilities
  • Current assets
  • Plant, equipment and property
  • Other assets
  • Stockholder’s equity
  • Noncurrent liabilities

The income statement information is presented for the single-step and multi-step statement formats. You will also explore how these two statements are linked so that you can understand how they work together.

Part 12

You will learn about the cash flow statement in this section. This is one of the most common statements you will prepare and work with as a bookkeeper. In this unit, you learn about the following:

  • Cash flow statement formatting
  • Negative and positive amounts
  • Investing, operating and financing activities
  • Indirect method

Part 13

This section is focused on the statement of stockholder’s equity. It is a type of financial statement that is completed during each period. You will learn about this statement, its purpose, when to complete it and how often you need to create one.

This section also explores the importance of controls. Here you will learn more about how to find discrepancies and what to do if one comes to light when you are reviewing a company’s books and working on statements. You also get information about how to plan and implement controls that can prevent these issues from occurring again in the future.

How Much Does the Accounting Coach Course Cost?

The core Accounting Coach program does not have any fees. If you want to use the Pro program, there is a one-time fee of $49. For access to the Pro Plus, there is a one-time fee of $99.

The free course provides everything that you need to become an entry-level bookkeeper. You can choose one of the Pro plans if you want access to additional learning materials, or if you want the opportunity to test for certifications to add to your resume.

How Much Can the Accounting Coach Course Help You to Earn?

Once you finish this Accounting Coach course, you will have the expertise necessary to work as an entry-level bookkeeper. In the United States as of 2019, entry-level bookkeepers earned an average of $32,800 per year. As you gain experience or add some certifications to your resume, you can typically demand a higher salary.

In the United States as of 2019, bookkeepers who worked on a freelance basis were earning approximately $42,800 per year. Most people who opt to take the freelance route have at least a year of experience working as a bookkeeper, so they can typically earn a higher salary. You have more flexibility as a freelancer because you set your rates.

If you choose to start your own bookkeeping business, you have full control over your rates. Most people charge their clients on an hourly basis. The hourly rate ranges greatly. It is about $25 to $60 per hour. As your business gains exposure and you have more experience as a bookkeeper, you have a greater chance at earning a higher hourly income.

Accounting Coach is geared more towards those looking to work for someone else as a bookkeeper. It’s not as good for those looking to start a bookkeeping business. You can earn much more starting your own bookkeeping business. To learn how to start your own bookkeeping business, we suggest the Bookkeeper Business Launch course.

Accounting Coach Review Conclusion

Now that you have finished reading this Accounting Coach review, you have the information necessary to determine if it is the best program for you. Pay special attention to the content included in the Accounting Coach bookkeeping course. This information tells you the topics covered so that you know exactly what you will learn as you progress through this Accounting Coach program

From here, consider what a bookkeeper does and why it is a good career option. Everything ties together to aid you in deciding if a career as a bookkeeper aligns with your goals. The next step after finishing this Accounting Coach review is to decide when to start the program. It does not take long to complete this Accounting Coach program, so you could start your bookkeeping career in less than a year.