Make sure this course is right for you.
Get unbiased reviews and personalized recommendations.
Who should attend
Managers, supervisors and staff from any function including the accounting department who need to improve understanding and application and techniques of the language of numbers.
About the course
Accounting is the language of business. By attending this course you will learn fundamentals of accounting, reading and analysis of financial statements. You will also appreciate the relationship between accounting and finance and understand the use of debits and credits. Finally, this course will help you accurately record financial transactions and summarize them in financial statements.
## Course Objectives
By the end of the course, participants will be able to:
- Define accounting and the accounting cycle
- Identify the major rules and principles of accounting under the International Financial Reporting Standards (IFRS)
- Demonstrate knowledge of the basic accounting equation, double-entry bookkeeping, and the new automated accounting systems
- List the key financial statements (balance sheet, income statement, changes in shareholders’ equity and cash flow statement) and their components
- Practice financial statements’ adjustments at month and year-end
## Course Outline
INTRODUCING ACCOUNTING AND THE FINANCIAL STATEMENTS
Definition of accounting
Users of accounting information
Basic financial statements
The corporation defined
Presentation of accounting information by different business entities
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
The International Accounting Standards Board (IASB)
Introduction to IFRS
Main differences between IFRS and US Generally Accepted Accounting Principles (GAAP)
The accounting equation
Traditional double-entry bookkeeping
Your asset is his liability
The chart of accounts
The general journal
The general ledger
The Trial balance
Modern bookkeeping: automating transactions
Defining the income statement
Defining revenue and its recognition
Defining expenditures and their classifications
The income statement illustrated
What is capital stock?
Dividends are not an expense
Cash dividends, stock dividends and stock split
Definition of treasury stock
Retained earnings: not the same as cash
THE BALANCE SHEET AND ITS COMPONENTS
Defining the balance sheet
Current versus non-current assets and liabilities
The balance sheet illustrated
CASH FLOW STATEMENT
Defining the statement of cash flows
Cash and cash equivalents
Classification of cash flows
The cash flow statement illustrated
ADJUSTMENTS TO FINANCIAL STATEMENTS
The accrual concepts
Accruals and prepayments
Provisions for contingencies
Videos and materials
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.