Module 1: Introduction to accounting
Understand the purpose of accounting (communicate not confuse)
Understand the accounting process and the accounting equation
Accounting regulatory bodies
International Financial Reporting Standards (IFRS)
Generally Accepted Accounting Principles (GAAP)
Understand debits and credits
Prepare the trial balance
Understand the balance sheet and income statement
Prepare the general ledger and general journal
Stakeholders and users of accounting information
Company structures and business activities
Accounting principles and guidelines
Module 2: Recording and presenting financial data
Prepare the cashbook, bank reconciliation, and petty cash journals
Prepare sales and purchases journals and reconciliations of debtors and creditors
Perform daily and monthly routines
Account for year-end adjustments
Extract a trial balance and draft a balance sheet and income statement
Module 3: Non-routine transactions and audit preparation
Account for non-routine transactions:
– Leases
– Depreciation
– Acquisition and disposal of assets
– Bad and doubtful debts
– Provisions and accruals
Understand year-end procedures for:
– Income Tax and Value Added Tax
– Fixed assets register
– Other year-end entries
Learn how to prepare for an audit and discover tips for saving on audit costs
Module 4: Financial tools for effective management
Understand financial terminology and concepts
Understand cash flow and working capital management
Learn how to calculate and use financial ratios for management decisions
Prepare budgets and cash flow forecasts
Understand the nature of costs and decision making using the behavior of costs
Evaluate the impact of costs on the bottom line
Gain an understanding of some of the more difficult financial decisions facing managers
Module 5: Indirect Tax
Understand and apply VAT legislation requirements
Accurately complete VAT returns and submit them in a timely manner
Understand the implications for the business of errors, omissions and late filing and payment
Report VAT-related information within the organization in accordance with regulatory and organizational requirements
Module 6: Advanced Bookkeeping
Apply the principles of advanced double-entry bookkeeping
Implement procedures for the acquisition and disposal of non-current assets
Prepare and record depreciation calculations
Record period end adjustments
Produce and extend the trial balance
Module 7: Spreadsheets for Accounting
Design and structure appropriate spreadsheets to meet customer needs
Use spreadsheet software to record, format and organize data
Use relevant tools to manipulate and analyze data
Use software tools to verify accuracy and protect data
Use tools and techniques to prepare and report accounting information
Module 8: Financial reporting for major accounts and transactions
Measuring and reporting accounts receivable
Estimating and accounting for bad debts
Costs to be capitalized in inventory value
Inventory cost flow assumptions
Presenting inventory at lower of cost or net realizable value
Simulation 5: hands-on preparation of disclosures on current assets
Classifying, measuring and recording long-lived assets
Repairs, maintenance, and additions to long-lived assets
Depreciation and amortization
Disposal of long-lived assets
Accounting and reporting for intangibles
Accounting for investments
Passive investment, exercising significant influence or control
Types of equity and debt investments
Simulation 6: hands-on preparation of disclosures on non-current assets
Definitions and classification of liability accounts
Types of ownership and stock
Accounting for capital and dividends
Simulation 7: required disclosures on long-term obligations and equity
Wrapping it up: linking notes to face of financial statements