This is a two-day comprehensive course on the role of accounting and how it helps in making informed business decisions in an organization. The course is specifically designed for those who rely upon accounting information but do not have accounting background. The program offers to introduce the participants to the world of accounting using plain language and a very easy methodology.
The participants will gain a clear understanding of the structures of the accounting system, the information it contains, and how it can be accessed. Numerous practical examples and illustrations will be incorporated into the training. The hands-on exercises will explain how the information on business transactions and activities is input to the accounting system and is used throughout the organization. The participants will understand how accounting provides essential support to business operations, decision making and effective business management.
Upon successful completion of the training, the participants will be able to record and understand transactions in an accounting system, make routine accounting adjustments, understand the structure and format of financial statements, interpret and evaluate accounting information, and make more informed decisions based on accounting data.
Contents
Introduction to Accounting
The double-entry method of accounting
Recording transactions in journal
The accounting cycle
Role of ledgers and journals
What are accounting adjustments
Financial statements – structure and format
The income statement
Recognizing income and expenses
The balance sheet
Adjusting advances and prepayments
The cash flow statement
Interpreting information from the financial statements