Bookkeeping And Accounting

Course details

A robust system of recording transactions is the means by which we can ensure that all financial data is captured and that the final accounts can be relied upon and fully reflect all that has happened in any organisation. Double entry bookkeeping is a widely used system of recording transactions and provides the basis for many IT based accounting systems. This one-day course is designed for those who need a working knowledge of the principles of this system. The course will examine in detail the whole bookkeeping process from the beginning of a transaction through to the preparation of a trial balance and will consider journals and corrections. It will also consider how the bookkeeping process sits within an accrual accounting or cash reporting framework.

Outcomes

At the end of the course, participants will:

• Be able to define income, expenditure, asset, liability and capital
• Have an understanding of the structure and role of the accounting and the financial reporting function
• Understand the process of recording transactions – ledger accounts, debits and credits and be able to prepare ledger accounts, adjustments and closing balances
• Understand the difference between balance sheet and income and expenditure accounts
• Have an appreciation of the bookkeeping system in an IT framework
• Be able to prepare a trial balance

Topics

The course will cover the following areas:

• Framework of Accounting
• Definitions – Income, expenditure, capital, assets and liability
• Ledger accounts
• Double Entry Bookkeeping
• Trial Balance
• Accrual Framework
• Bookkeeping in an IT Framework