Accounting skills a business person must have! Beginners

Course details

*UK GAAP accounting standards. In this level students from countries following IAS can follow as well. In simple words, students from all countries can follow this course*

Why to learn Accountancy

• To establish your own business, you need to know some basic accounting principles in order to communicate effectively with investors, suppliers and customers

• To be better at negotiations

• To know the best price of selling. Learn how to estimate the break-even point and at which point you can reduce the price

The aim of this course is to enable students to develop:

1. an understanding of the basic principles underlying the recording of business transactions

2. The ability to maintain the books of, and prepare final accounts for, sole traders

The course is suitable for canditates who work or wish to work in areas of business that will involve the recording of financial transactions. All businesses require accurate accounting records that are maintained on a regular basis. Consequently, there is a demand for employees who possess this skills.

Syllabus topics:

1. The Accounting Equation and the basis of double-entry book-keeping

2. Recording transactions through double entry

3. Balancing accounts

4. Purchases/Sales/Returns

5. The Ledger: its subdivision

6. Day Books

7. Bank facilities/methods of payment or receipt of money

8. Cash Book and cash discount

9. Bank reconciliation

10. Petty Cash Book and the Imprest System

11. Trial Balance

12. Adjusting for accruals and prepayments in the final accounts

13. Depreciation of fixed assets

14. The entries relating to bad debts

15. The Journal

16. Capital and revenue expenditure

17. Errors in the accounts and their correction

18. Effect of Profit (or Loss) and drawings upon capital

19. Trading and Profit and Loss Accounts

20. The Balance Sheet

21. Control Accounts an introduction

Assessment Objectives

The course will assess the candidate's ability to demonstrate:

an understanding of the Accounting Equation and the basis of double-entry book- keeping

how to prepare journal entries and ledger accounts by using the double entry system

how to prepare prime entry records for purchases, sales, returns and cash

how to prepare journal entries

how to prepare a trial balance and the final accounts for sole traders

an understanding of banking facilities and the operation of the cash book

how to prepare a bank reconciliation statement

how to make adjustments for accruals and prepayments in the final accounts

an understandinfg of the entries necessary for the depreciation of fixed assets

how to make entries relating to the writing off of bad debts

an understanding of the distinction between capital and revenue expenditure

how to correct errors in the accounts of sole traders

an understanding of the use of control accounts as a check on the sales and purchases ledger

Skills Assessed

Candidates will need to show that they can:

add, subtract, divide and multiply, calculate and use percentages

prepare journal entries and ledger accounts

present final accounts for sole traders

What i offer:

Recorded lessons

Teacher's powerpoint slides

Book

Solutions

Past Papers