Accounting Basics Training
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Accounting Basics Training Course
Introduction:
Regardless of the size of a company, accounting is an essential aspect of any business. As a business owner, understanding the income generated and the associated costs is crucial knowledge.
Accounting is the systematic process of recording and analyzing financial transactions within a specified timeframe. This financial information serves multiple purposes, such as aiding management in decision-making and allowing interested parties to assess the company's financial position.
To prepare accurate financial statements, business plans, or cash flow forecasts, it is vital to have the necessary information readily available. Accounting provides the foundation for these documents, ensuring that the data used is reliable and comprehensive. By maintaining accurate accounting records, businesses can gain valuable insights into their financial performance and make informed strategic decisions.
Course Objectives:
By the end of Accounting Basics Training Course, you will:
- Gain basic accounting knowledge to understand business transactions better.
- Understanding the importance of accounting and its role in operating your business.
- Easily track the business expenses and identify the cost variables.
- Being able to understand the difference between the assets (what your business own) and liabilities (what your business owes).
- Keeping an accurate record for financial institutions and taxes.
- Conducting the account analysis, monitoring payables & receivables, processing the bank reconciliation and preparing the Financial Statements.
Who Should Attend?
This Accounting Basics Training Course ideal for:
- Accounting Assistant Finance Assistant
- Secretaries Cashiers
- Admin Human Resource Professionals
- Sales Manager Information Technology Professionals
- Bankers Marketing and Advertising Professionals
- Small business owners New Entrepreneurs
Course Outlines:
What is Accounting?
- History of Accounting
- Best use of Accounting in the modern business environment
- The importance of accounting in operating a successful business
- Types of Accounting- Financial Accounting – Managerial Accounting – Cost Accounting
Recording Financial Transactions
- Types of business transactions and documentation
- Preparing the ledger accounts
- Sales and credit transactions
- Purchase and credit transactions
- Preparing the trial balance
- The duality of transactions and the double-entry system -Debit -Credit
Accounting for Income Statement
- The Importance of an Income Statement
- Preparation of Income Statement
- Revenue recognition
- Cost of sales valuation
- The adjustments for Accruals and Deferrals
- The cost of depreciation
Accounting for Balance Sheet
- The Importance of a Balance Sheet
- Preparation of a Balance Sheet
- Fixed Assets and Intangible Assets
- Account Receivables, Account Payables
- Inventory and Cash at the bank
- Equity and long-term Liabilities
Accounting Analysis and Performance Measurements
- The accounting equations
- Performing bank reconciliation
- Working capital cycle
- Performing account analysis
- Profitability Ratios
- Gearing Ratios
- Investment Ratios