Certified Accounts Assistant

Introduction

Accounts Assistant training course is designed to equip you with the skills that you need to secure job as an Accounts Assistant / Finance Assistant. Upon completion you will have a good understanding of the financial process from purchase and sales Ledger to extended trial balance.

Objectives:

By the end of the program, participants will be able to:

– Define the accounting cycle.
– Discover how accounting affects their day-to- day business.
– Outline the components of financial statements.
– Perform every step of the accounting closing cycle.
– Get up-to-date with accounting terminology that will enable them to perform more effectively at work.

Course Outline:

Day 1

Introduction to Accounting

– Importance of Accounting and the Accounting Cycle.
– Accounting Regulatory Bodies.
– International Financial Reporting Standards (IFRS).
– Generally Accepted Accounting Principles (GAAP).
– Accounting Rules Updates and Changes.
– Stakeholders and Users of Accounting Information.
– Company Structures and Business Activities.
– Accounting Principles and Guidelines.
– Other Characteristics of Accounting Information.
– How Principles and Guidelines Affect Financial Statements.

Day 2

Analysing Transactions

– Identifying Account Names.
– Classifying Accounts.
– Interpreting Account Movements.
The Double Entry Accounting
– Debits and Credits.
– The Importance of T-Accounts.
– The 7 Rules of Debits and Credits.
– Sub-Ledgers and General Ledgers.
– Preparing Trial Balance.

Day 3

Adjustment Process

– Adjusting Assets and Liabilities, Revenues and Expenses:
– Accrued Liabilities / Expenses and Revenues.
– Deferred Assets / Expenses and Revenues.
– The Process of Preparing Adjusted Trial Balance.
– Adjustments for Contra-Accounts.

Closing Process

– The Four Important Closing Entries.
– Using the 10-Column Worksheet.
– Preparing Financial Statements:
– Income Statement.
– Balance Sheet.
– Understanding and Preparing Closing Trial Balance.

Day 4

Assets Accounting and Reporting

– Accounting and Presentation of Cash, Petty Cash and Cash Reconciliation.
– Accounts Receivable and Allowances.
– Inventory Costing and Valuation.
– Recording and Maintaining Fixed Assets.
– Depreciation and Accumulated Depreciation.
– Intangible Assets and Other Non-Current Assets.

Day 5

Current Liabilities and Accruals

– Accounts Payable and Notes Payable.
– Accrued Liabilities.
– Short and Long-Term Loans.

Understanding Shareholders’ Equity

– Share Capital.
– Retained Earnings.
– Government and Management Reserves.