Topics to be covered :
- Accounting principles, concepts and regulations
- Generally accepted accounting principles.
- Underlying assumptions, policies and accounting estimates.
- Regulatory influence of company law and accounting standards. - Recording accounting transactions
- Types of business transactions.
- Double-entry bookkeeping. Accounting equation.
- Coding system.
- Journals and ledger accounts.
- Accounting entries for specific transactions.
- Trial balance and correcting errors. - Preparing accounting reconciliations
- Bank reconciliation.
- Reconciliation of receivables control account.
- Reconciliation of payables control account. - Preparing accounts for single entities
- Preparing financial statements from a trial balance.
- Preparing financial statements from incomplete records.
- Preparing a statement of cash flows.
Learning objectives:
- Understand the key accounting principles and characteristics.
- Explain the influence of legislation and accounting standards on published accounts.
- Apply the principles of double-entry bookkeeping.
- Prepare accounting records for typical transactions and events.
- Perform month end close activities.
- Reconcile sub-ledgers to general ledger and perform other related account reconciliations.
- Understand the process behind the preparation of financial statements for single entities.
- Prepare financial statements and reports.