Accounting for Non-Accountants

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 to accurately record financial transactions and summarize them in financial statements.

Awarding Body

London Institute of
Business & Technology

Duration

5 Days
25 Hours

Start Date

All Year Around

Study Mode

Classroom OR
Distance Learning

By the end of this programme, the participant 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
  • Introducing accounting and 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)
  • Double-entry accounting
    • 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
  • Income statements
    • Defining the income statement
    • Defining revenue and its recognition
    • Defining expenditures and their classifications
    • Calculating profit
    • Gross profit
    • Operating profit
    • Net profit
    • The income statement illustrated
  • Net equity
    • Defining 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
    • Assets
    • Liabilities
    • Equity
    • 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
      • Operating activities
      • Investing activities
      • Financing activities
    • The cash flow statement illustrated
  • Adjustments to financial statements
    • The accrual concepts
    • Accruals and prepayments
    • Depreciation
    • Bad debts
    • Provisions for contingencies

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.

5-day training programme – 1,790 USD

How many students are there in a classroom?

It depends on how many would enroll per intake. Even if the number of students are just 1, we still continue with the training as planned. The maximum number of students we will have in a classroom is 10.

Can I request a date that is convenient for me?

Absolutely! We will arrange the training that is convenient for you. The training date is completely customizable.

Can I change the course content?

Yes, if the contents of the course needs to be changed, please let us know. We will communicate with you and get a course outline that works for you finalized.

Does it matter which industry I work at?

It really doesn’t. We take cases and discuss them to cover your industry. If you need the course to be customized and tailored to your industry, we can also do that. You’d have to let us know in advance by filling out the form below.

How many students are there in a classroom?

It depends on how many would enroll per intake. Even if the number of students are just 1, we still continue with the training as planned. The maximum number of students we will have in a classroom is 10.

(The fees include coffee breaks, study materials and working lunches daily)

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