For Accounts/Finance Executives and Managers
Accounting in books is significantly different from accounting in practice. To some extent practical accounting is easier than theoretical accounting. All what you need to be successful in accounting profession is to have strong fundamental concepts of different areas of accounting, control over spreadsheets and accounting packages. This course is designed to bolster your existing knowledge of accounting, integrate that with professional experiences and technologies.
At the end of the course you will be a confident, skilful and tech-savvy accounting professional.
1. Refresh and redevelop key accounting theories and practices
2. Develop practical skills required for Accounts Management profession
3. Develop practical skills required for Cost Accounting profession
4. Know how to integrate spreadsheet and accounting packages to improve productivity
The programme will be delivered using formal lectures combined with practical and interactive case studies and exercises. There will be a great emphasis on gaining practical experiences.
Contents of Training:
Session 1: Getting Introduced to Double Entry Systems
Key concepts of accounting
Understanding Debit and Credit Mechanisms and Getting Rid of Misconceptions
Journalizing in practical way
Developing spreadsheet models to store and classify all debit credit accounts.
Session 2: General Ledger Maintenance and Accounts Management
Understand the overall accounting process
Developing Chart of Accounts
Creating and Updating Ledger Accounts
Developing Spreadsheet Models for Accounts Management
Session 3: Using Accounts Balances for Regular and Periodic Financial Reporting
Preparing Trial Balance Manually and Automatically from Spreadsheet Models;
Prepare Profit and Loss/ Income Statement (Regular and Periodic);
Prepare Cash Flow Statement (Regular and Periodic);
Prepare Balance Sheet (Regular and Periodic);
Session 4: Internal Auditing, Adjustments and Corrections
Know how to audit accounts for finding scopes for Adjustment and Corrections;
Adjustment in Practical Accounting;
Correction in Practical Accounting;
Prepare Adjusted and Corrected Financial Statements (Automatic and Manual)
Session 5: Practical Cost Accounting
Develop Key Concepts of Cost Accounting;
Practical Methods of Costing your Products and Services;
Conduct Break-even Analysis and Report to Top Level Management;
Practical Approaches to Budgeting.
Session 6: Efficient use of Spreadsheets and Accounting Software Packages
Get introduced to Programming for Accounts Management in Excel;
Get introduced to Standard Accounting Packages;
Know how to develop an Accounting Information System;
Steps toward strategic issues and top level Accounting