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Course Fee:
$499.00
Course Time: 2 Days, 9:30 am - 4:30 pm
The Accounting in Action 2-day
seminar is designed for those who already have some accounting knowledge but
want to have in-depth knowledge of the accounting process. The course covers
some advanced topics like bank reconciliation, inventory valuation, cash
management, classified financial statements over and above the basic accounting
cycle. We also cover sales taxes in this course.
Course
Content:
An
overview of the Accounting Cycle
Accounting
Principles (GAAP)
- Cost
principle
- Going
Concern
- Monetary unit assumption
- Economic Entity
Types of
Business
- Sole
Proprietorship
- Partnership
- Corporation
Cash and
Internal Control
- Internal control procedures
- Cash
and Cash Equivalents
- Bank
Reconciliation Statement
Inventory
- Merchandising vs Manufacturing Business
- Perpetual vs Periodic inventory systems
- Cost
flow assumptions: Average costing, FIFO, LIFO
Accounts
Receivable
- Credit sales and bad debt accounts
- Accounts receivable vs Notes receivable
- Write-off adjustments
Accounts
Payable
- Current liabilities-Defined
- Accounts payable and other current liabilities
Financial
Statements
- Income Statement
- Statement of Owner’s Equity/Partners’ Equity/Shareholders’ Equity
- Balance Sheet
- Statement of Cash Flows
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