Financial and Management Accounting
Financial and Management Accounting is the systematic recording, analyzing, interpreting and presenting of financial information. Accounting may be done by one person in a small business, or by different teams in large organizations.
Accounting is the way a business keeps track of its operations. Accountants analyze the business finances so the owner can make better decisions. This information is organized into reports that show the financial health of a business.
Accounting helps business owners meet their compliance obligations. It also helps them make smart decisions with their money.
WHO NEEDS THIS COURSE?
Managers, supervisors and staff from any function including the accounting department who need to improve understanding, application and techniques of the language of numbers.
- Introduction to Accounting Principles
- Double entry for cash transactions
- Double Entry for Credit Transactions
- Balancing of accounts and preparation of a Trial Balance
- Value Added Tax:
- Business Documentation
- Capital and revenue expenditure
- Books of original entry & ledgers – Sales day book and sales ledger including VAT
- Purchase day book and purchase ledger including VAT
- Cask books
- Petty cash and the imprest system
- Bank reconciliation statements
- The Journal
- Sales ledger and Purchase ledger control accounts
- Trading account and profit and loss account of a sole trader
- The Balance Sheet
- Financial statements other considerations
- The concept of depreciation of fixed assets
- Double entry for depreciation and disposal of a fixed asset
- Bad Debts and provision for doubtful debts
- Accruals prepayments and other adjustments for financial statements
- Incomplete Records
- Accounting for non-profit making organizations
- Manufacturing accounts
- Partnership accounts
- Limited company accounts
- Analysis accounts
- Computers and accounting systems
Candidates will be able to put accounting skills to work. Whether you are starting your own business or supplementing your understanding of accounting, this business course will help you understand accounting basics and give you meaningful financial tools to understand business. Understanding the four basic financial statements, Income Statement, Balance Sheet, Statement of Retained Earnings, and Statement of Cash Flows, is key to evaluating companies for your investment decisions. But this business course goes beyond just understanding these financial statements. Business Accounting Basics takes you through the building blocks and accounting cycles that create each statement. In addition, this course will give you the basic tools to project profitability and break your costs down to help analyze any company. In fact, almost all larger companies incorporate various forms of business accounting into the decision-making cycle of their business model.