Complete a high school or college course in accounting or the following requirements:
- Show transactions necessary for acquisition or deposit of assets, and acquisition and disposal of liability. Show transactions necessary to close income and expense accounts at year end.
- Be able to correctly classify balance sheet items with short term asset, long term asset, contra asset, short term liability, long term liability, and equity.
- Be able to write an income statement from a trial balance.
- Be able to reconcile bank balance to book balance in checking accounts, including deposit in transit, service charge, returned HSF, interest on account, and checks in transit.