HANDLING FULL SET OF ACCOUNTS

Course details

MODULE 1: UNDERSTANDING ACCOUNTING TERMS
How is financial accounting different from management accounting? Which do you need to know?
Accounting terms, concepts, double entry rule and accounting cycle
 
MODULE 2: RECORDING AND ANALYSING BUSINESS TRANSACTIONS
Understanding Main Books of Accounting System for any type of Business Operations
Journal, Ledger and Source Documents
Ensuring Relevant Supporting Documents for Accounting Transactions
Books of Original Entries – Types of Journals and Cash Book
Ledger System – General Ledgers, Subsidiary Ledgers – Posting into Ledgers
Proper Classification of Expenses to Avoid problems with Tax Authorities
 
MODULE 3: FIXED ASSETS ACCOUNTING
Differentiate between Revenue Expenditure and Capital Expenditure
Making entries for Depreciation and Amortization
Disposal of Fixed Assets
 
MODULE 4: ACCOUNTS RECEIVABLE (AR) & ACCOUNTS PAYABLE (AP)
Understanding How AR & AP Work & Relate to General Ledger
Performing AR, AP Reconciliation
 
MODULE 5: INVENTORY ACCOUNTING AND METHODS OF VALUATION
How Inventory Works & Interaction with General Ledger
Different Valuation Methods of Inventory: FIFO, LIFO & Weighted Average
Advantages & Disadvantages of Each Method of Valuation
 
MODULE 6: SHARE CAPITAL, SHARE PREMIUM & OTHER SOURCES OF FUNDING & REFLECTION IN BOOKS
Share Capitals and Accounting Entries
Share Premium Accounting
 
MODULE 7: UNDERSTANDING THE CASH BOOK
Understanding the layout of Cash book
Posting Cash Book Transactions into Ledgers
Petty Cash Book Compared with Main Cash Book
Preparing Bank Reconciliation Statements
 
MODULE 8: PREPARATION OF FINAL ACCOUNTS
Balancing Accounts and preparing Trial Balance to ensure accuracy of double entry system
Detectable / Non Detectable Errors
Trading Accounts / Profit & Loss Accounts / The Financial Position
Final Accounts with Adjustment
The closures of books and transfer of balances to next financial year
Dealing with Bad / Doubtful Debts / Provisions, etc
 
MODULE 9: COMPUTERIZED/AUTOMATED ACCOUNTING
Working in a Computerized Accounting Environment
Difference between Manual and Computerized Accounting
Real Time vs Batch Processing
 
MODULE 10: SST ENVIRONMENT
Transition to SST  Updated on 11 May, 2020