Accounting Fundamentals

Course Fee: $499.00
Course Time: 2 days, 9:30 am - 4:30 pm

The Accounting Fundamentals 2-day seminar will take you through the accounting cycle including steps in preparing financial statements. Students learn how to record transactions in the books and in turn prepare financial statements themselves.

Course Content:

Accounting- Defined

• Accounting: The language of business

The purpose of Accounting

• Why study Accounting?
• Preparing accounting reports: Financial Statements
• Users of Accounting

The building blocks of Accounting

• Ethics
• GAAP
• Forms of business organizations
• Basic accounting equation

Accounting Cycle: Using the building blocks

• Transaction Analysis
• Debits & Credits
• The Journal
• The Ledger
• The Recording Process
• Trial Balance

Period End Adjustments:

• Timing Issues
• Revenue Recognition Principle
• Matching Principle
• Types of Adjusting Entries
• Adjusted Trial Balance

Closing the books

• Closing Entries
• After closing Trial Balance

Preparation of Financial Statements

• Income Statement
• Statement of Owner’s Equity
• Balance Sheet
• Statement of Cash Flows