OBJECTIVES:

a) Open the Books
b) Make the first day's entries

MATERIAL AIDS:

Aid 9

PROCEDURE:

The first section is for teachers who are instructing students individually The second section resumes the group approach.

1.

The one-on-one approach (Aid 9)

1.1 Give student "Initiation Sheet"'

1.11 All balances must be from the night before initiation.

1.12 Inventory is only the value of raw materials. Neither sales price nor invested labor is important.

1.13 Do not start system without 95% of information Bank balances, Inventory and Cash on Hand are imperative.

1.2 Teacher buys and organizes books.

1.21 Organization based on original interview and new information.

1.22 Place account headings in all books.

2.

The Day of Initiation - in the company

2.1 Fill out Account Book with balances from the Initiation Sheet.

2.2 Pass balances to a Balance Statement and compute Beginning Capital

2.21 Pass Beginning Capital balance back to Account Book.

2.22 If the owner forgets something, the affected account must be changed and the Beginning Capital readjusted.

2.3 Open the Cash Book.

2.31 Enter Cash or hand and Bank Account Balances.

2.32 Check last page inventory section. If not complete, require completion by the next visit.

2.4 Open the Credit Books

2.41 Place names and account balances in the respective "individual account" sections of Accounts Receivable, Accounts Payable, Loans to Employees and Creditors.

2.42 Add up individual account balances and enter the sum in the respective "summary'' section. These balances must coincide with those in the Account Books.

2.43 Check fiat of Fixed Assets. If not complete, require completion by the next visit.

2.5 Place all papers and documents in their respective folders.

3.

Make first day's entries. Entries are to be made daily.

3.1 Help owner if needed. Explain questions.

3.2 Have owner list doubts or omissions for the next visit.

3.3 Congratulate owner and get a well deserved beer or two!