Understanding The Fundamentals Of Accounting

Overview

This intensive and practical two-day course provides delegates with a robust introduction to the Accounting process.

Who should attend

Staff within the finance/accounts department with little or no prior knowledge of accounting principles and book-keeping; new entrants to the profession and those in need of a "refresher" on the double entry system

Course objectives

By the end of this course, you will be able to:

> Gain a thorough knowledge of the key accounting principles and concepts
> Develop book-keeping skills
> Produce working papers to a required standard
> Become familiar with financial statements

Course content

What is Accounting?
> Why and how accounts are produced
> Golden rules:
-assets
-liabilities

Understand Basic Accounting Concepts
> Double entry book-keeping
> Cash books and bank reconciliation
> Day books and ledgers
> Manual and computerised systems

Analyse the Steps Required to Complete a Set of Accounts
> Dealing with missing information:
-accruals
-repayments
> Recording work done
> Calculating month and year end adjustments
> Setting provisions for risks and depreciation
> Analytical reviews
> The trial balance:
-locating
-correcting mistakes

> Putting together and reviewing the final accounts:
-the profit and loss account
-the balance sheet

Prepare Financial Statements
> Main requirements
> Linking day-to-day transactions and financial statements