In this course, the basics of accounting are covered. It allows you to understand the fundamentals and basic accounting concepts.

By the end of Accounting Basics Training Course, you will: 

• Gain basic accounting knowledge to understand business transactions better.
• Understanding the importance of accounting and its role in operating your business.
• Easily track the business expenses and identify the cost variables.
• Being able to understand the difference between the assets (what your business own) and liabilities (what your business owes).
• Keeping an accurate record for financial institutions and taxes.
• Conducting the account analysis, monitoring payables & receivables, processing the bank reconciliation and preparing the Financial Statements.

Day 1

What is Accounting?

• History of Accounting

• Best use of Accounting in the modern business environment
• The importance of accounting in operating a successful business
• Types of Accounting- Financial Accounting – Managerial Accounting – Cost Accounting

Day 2

Recording Financial Transactions

• Types of business transactions and documentation

• Preparing the ledger accounts
• Sales and credit transactions
• Purchase and credit transactions
• Preparing the trial balance
• The duality of transactions and the double-entry system -Debit -Credit

Day 3

Accounting for Income Statement

• The importance of an Income Statement

• Preparation of Income Statement
• Revenue recognition
• Cost of sales valuation
• The adjustments for Accruals and Deferrals
• The cost of depreciation

Day 4

Accounting for Balance Sheet

• The importance of a Balance Sheet
• Preparation of a Balance Sheet
• Fixed Assets and Intangible Assets
• Account Receivables, Account Payables
• Inventory and Cash at bank
• Equity and long-term Liabilities

Day 5

Accounting Analysis and Performance Measurements

• The accounting equations

• Performing bank reconciliation
• Working capital cycle
• Performing account analysis
• Profitability Ratios
• Gearing Ratios
• Investment Ratios

RECTUS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration