Basic Accounting

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Overview

Any organisation that deals with money or money’s worth needs to record every transaction that it enters into. This workshop will give a complete understanding, right from scratch to preparation and analysis of financial statements. This is an engaging and interactive workshop, which will support each delegate in accordance with the ‘learn by doing’ approach.

Objectives

  • Explore the accounting framework
  • Understand the accounting process
  • Understand the process of finalisation
  • Review financial statement analysis
  • Learn what depreciation accounting is
  • Understand merchandise accounting
  • Learn how to reconcile cash and bank balances
  • Understand bookkeeping and accountancy
  • Knowledge and understanding of:
    • Accounting concepts
    • Accounting equations
    • Rules of accounting
    • Recording the transactions
    • Adjusting and rectifying the books
    • Preparation of financial statements
    • Analysing financial statements
    • Reconciling the books

Course Content

Below is an example of the course content. The content can be 'tailored' to meet the exact requirements of the client.

Day One
Introduction to accounting
  • Meaning, functions and sub fields of accounting
  • Accounting cycle
  • Accounting principles- concepts and conventions
  • Accounting Equation
  • Types of Accounts
  • Rules of debit and credit
Accounting process
  • Analysing transactions
  • Recording transactions
  • Posting to ledger
  • Balancing the accounts
  • Preparing trial balance
Finalisation of accounts
  • Rectifying the erroneous entries
  • Journalising adjustment entries
  • Preparing adjusted trial balance
  • Passing the closing or transfer entries
  • Preparing financial statements
Day Two
Financial statement analysis
  • Categorisation of ratios
  • Various Types of ratios
  • Significance of these ratios
Financial statement analysis
  • Decomposition of ROA and ROE with DuPont analysis
  • Various other types of ratios:
    • Profitability ratios
    • Expense ratios
    • Turnover ratios
    • Market sensitivity ratios
    • Limitations of ratio analysis
Reconciliation of books
  • What actually is bank reconciliation?
  • Reasons for reconciling the books
  • Procedure or steps for reconciliation
Day Three
Petty cash accounting
  • Petty cash and its purpose
  • Writing petty cash book
  • Types of petty cash book
  • Control over petty cash
Inventory accounting
  • Basics of inventory
  • Inventory accounting systems
  • Inventory valuation methods
  • Accounting for inventory
    • Inventory and its impact on financial statements
Depreciation accounting
  • The basic concepts of depreciation
  • Methods of depreciation
  • Accounting for depreciation
  • Depreciation and its impact on cash flow and income tax

Methodology

The foundation of our training is anchored in activity-based experiential learning. This methodology takes into consideration different learning and communication styles, and more importantly language and cultural differences. It is through active participation that the adoption and application of theory is expedited.

Our training team pays careful attention to planning and designing effective instructional methods essential for the transfer of knowledge. It is the creative skill of our management trainers and consultants that reveal untapped skills of the delegates through:

  • Group discussion
  • Individual and syndicate activities
  • Individual and group tasks
  • Case studies
  • Role plays
  • Audio and video evaluation
  • Action planning
  • Experiential learning games
  • Presentations
  • Assessments
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Tags:

Date

15 Dec 2019 - 17 Dec 2019

Time

8:00 am - 2:00 pm

Cost

AED5,400.00
Abu Dhabi

Location

Abu Dhabi
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