Provided by: Effective Outsource Networks

Intensive Basic Financial Accounting

Accounting and Finance

This intensive course covers an overview of the accounting process: starting from journal entries to ledger postings and ending with the preparation of the income statement and balance sheet. Relevant basic accounting principles and concepts are also explained.
Many typical business transactions will be analysed. All the participants will go through the accounting process up to the preparation of the income statement and balance sheet. Participants will be given numerous worksheets for hands-on practice of the accounting process.
This is primarily ilt training
Course Level:introductory
Duration:2 days
Training Presented in:English
Training Provided by Effective Outsource Networks
Intensive Basic Financial Accounting
Why is this important?
This intensive course covers an overview of the accounting process: starting from journal entries to ledger postings and ending with the preparation of the income statement and balance sheet. Relevant basic accounting principles and concepts are also explained.
Many typical business transactions will be analysed. All the participants will go through the accounting process up to the preparation of the income statement and balance sheet. Participants will be given numerous worksheets for hands-on practice of the accounting process.
How will you benefit?
After the workshop, you will be able to:
-understand common accounting principles and concepts
-identify the types of common source documents
-know how typical business transactions are recorded
-identify the types of accounts to use
-pass journal entries
-know when to use the general journal and special journals
-post journal entries to ledgers
-avoiding common accounting entry adjustments required by Auditors
-know what to post to the main and subsidiary ledgers
-prepare a bank reconciliation statement
-extract a Trial Balance
-prepare basic Income Statement and Balance Sheet
What will you learn?
Understanding accounting concepts and terminologies
- Accounting principles and concepts
- Types of accounts
- Structures of the Income Statement and Balance Sheet
- The accounting equation
- When to Debit or Credit
Recording Business Transactions
- Analysis of typical business transactions for recording purpose
- Journal entries
- Special journals
- Cash Book
- Petty Cash Book
- Main and subsidiary ledgers
- Ledger postings
- Balance day adjustments for accruals and prepayments
- Provisioning for depreciation and doubtful debts
Preparing Final Accounts
- Balancing of ledger accounts
- Closing of accounts
- Trial balances
- Income statement
- Balance sheet
Maintaining Proper Accounting Records
- Understanding the guidelines by tax authorities
- Areas of focus by tax authorities and supporting documents
Who should attend?
For anybody who does not have any accounting knowledge but wishes to know how the Income Statement and Balance Sheet are prepared from common business transactions.
Methodology
Participants will be given numerous worksheets for hands-on practice of the accounting process. Each participant needs to bring along a manual calculator (preferably not the mobile calculator app).
Available dates:
21 & 22 Mar 2017 (EB: 28/ 2/2017)
18 & 19 Jul 2017 (EB: 27/ 6/2017)
7 & 8 Nov 2017 (EB: 17/ 10/ 2017)
About The Training Provider: Effective Outsource Networks
Effective Outsource Networks - EON Consulting & Training Pte Ltd, formerly known as Effective Outsource Networks, was established in 1996 and specialises in providing human capital consulting and training services to organisations in Singapore. It has helped organisations improve on day-to-day human resource operations through three main areas of support, namely, information service, consulting and training. Mission ...
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