An Introduction to Accounting

Overview

Course duration: 1day.

This course covers basic accounting and takes delegates through the accounting process from the generation of source documentation to the preparation of final accounts.

Is it right for me?
Suitable for staff with no accounting experience, maybe joining an accounting office and needing to acquire a basic introduction to the accounting process as well as a working knowledge of fundamental book keeping skills.

What will it cover?
The Initial Process
- Source documentation
- Books of prime entry
- Ledger accounts

Constructing the Final Accounts
- Double entry book keeping
- Constructing the trial balance
- Errors not flagged by the trial balance
- Deriving the Profit and Loss Account and Balance Sheet

Accounting for Cash and Bank
- Two and three column cash books
- The petty cash book
- Bank reconciliation statements
- Cash flow statements

Accounting for:
- Depreciation of fixed assets
- Bad debts and provision for bad debts
- Accruals and prepayments
- Value Added Tax
- Operating and capital expenditure

The Final Accounts of Limited Companies
- Advantages and disadvantages of limited liability status
- The structure of limited company accounts
- Key accounting concepts