Course Overview
This course demonstrates:
- How accounting is the system of recording financial transactions.
- The profit and loss (P&L) statement, which summarises the revenues, costs, and expenses incurred during a specified period.
By attending this course, you will understand the purpose of the balance sheet, which is to show the financial status of an organization at a specific point in time.
The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.
Agenda
Accounting Basics
- Accounting concepts
- Steps in the accounting cycle
- The objectives of financial reporting
- Financial reporting standards
The Profit and Loss Statement
- Measurement of income
- Types of costs and expenses
- The many levels of profit
- Opex and capex
The Balance Sheet
- Constituents of the balance sheet
- The fundamental accounting equation
- Importance of working capital
- Exercise – prepare a set of accounts
The Role of Financial Accounting in Decision-making
- Key aspects of making a decision
- Limitations on the use of ratios
- The end of accounting?
Course Review
- Summary and recap of key learning objectives
- Action Planning
Target Audience
This course is suitable for:
- New accounting staff who need to understand the financial accounting function holistically.
- Accountancy staff with no formal qualifications.
Learning Outcomes
Upon completion of this course, you will understand:
- The links between accounting principles and the preparation of financial statements.
- Definitions of the content and functions of the two key financial statements.
- How to prepare a set of financial statements from scratch.
- How to implement an Action Plan at your workplace using the knowledge and skills acquired through the course.
Course Dates
Spaces limited to NINE (9) delegates per course. Book Now to avoid missing out!
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