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Fundamentals of Finance & Accounting

Fundamentals Finance Accounting

Our Fundamentals Finance Accounting course is your first step towards a successful accounting and finance career. You don’t need any prior experience or qualifications to enroll, making it perfect if you’re just starting out or if you need to bring useful financial knowledge to your current role.

Accounting is the language of business. By attending this course, you will learn the basics of accounting and those of reading and analyze financial statements. The course will equip you with the necessary knowledge to participate in the accounting activities of your organization and to understand and use debits and credits. You will also learn to record financial transactions and report them in financial statements.

It’s focused on giving you practical, real-world knowledge of accounting and finance that you can put to use from day one.

You’ll learn the basic principles of accountancy, including double-entry bookkeeping, and gain the skills you need to hold entry-level or accounting support roles. You can also continue your study with the Advanced and Professional Diplomas and become qualified for senior accounting roles.

The course is accredited by the Association of Accounting Technicians (AAT), the UK’s most significant professional body for accounting technicians, so it’s internationally recognized and sought-after by employers.

Financial skills and knowledge are vital for all kind of accounting specialists in all organizations. A more challenging business and economic climate and an increase in the financial delegation are making this even more so.

Many senior professionals miss formal training in finance and often feel uncomfortable when discussing financial matters with their peers and business professionals. This interactive and engaging seminar addresses these critical issues.

This course will teach you the tools you’ll need to understand the fundamentals of financial accounting. Our financial records of a small business, and “your turn” activities guide you through the three most commonly used financial statements: the Balance Sheet, the Income Statement, and the Statement of Cash Flows.

Beyond recording transactions, you’ll learn how to prepare these financial statements, and read and analyze them to draw basic conclusions about a company’s financial health.

You might be interested in our Financial Accounting Reporting Course as a next step.

YOU WILL LEARN HOW TO

By the end of this course, you will be able to:

– Use journal entries to record transactions;

– Prepare and use t-accounts to summarize transactions recorded during an accounting period;

– Describe the three most commonly used financial statements and how they fit together;

– Prepare these financial statements based on transactions recorded during an accounting period;

– Draw basic conclusions about a company’s financial health;

– Understanding international financial reporting standards (IFRS);

– Performing accounting closing process.

IMPORTANT COURSE INFORMATION

Requirements

You don’t need any prior experience or qualifications to enroll, making it perfect if you’re just starting out or if you need to bring useful financial knowledge to your current role.

Certification

Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

Professional Credits

This course is worth 25 NASBA CPEs.

National Association of State Boards of Accountancy (NASBA):  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

The course is accredited by the Association of Accounting Technicians (AAT), the UK’s largest professional body for accounting technicians, so it’s internationally recognized and sought-after by employers.

Where will you sit your assessments?

You can obtain AAT Certificate after successful assessment.

If you are studying via classroom learning you will sit your assessments with your AAT Approved training provider – Strategic Axis.

COURSE OUTLINE

Modules

Module 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

Module 2: Analyzing transactions

Identifying accounts names

Classifying accounts

Interpreting accounts movements

Understand financial transactions within a bookkeeping system

Process customer transactions

Process supplier transactions

Process receipts and payments

Process transactions through the ledgers to the trial balance

Module 3: 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 balances

Module 4: 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 balances

Adjustments for contra-accounts

Module 5: 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

Module 6: Assets accounting and reporting

Cash and cash equivalents

Accounts receivable and allowances

Inventory costing and valuation

Recording and maintaining fixed assets

Depreciation and accumulated depreciation

Intangible assets and other non-current assets

Module 7: Liabilities accounting and reporting

Accounts payable and notes payable

Accrued liabilities

Short and long-term loans

Module 8: Understanding shareholders’ equity

Share capital

Retained earnings

Government and management reserves

Module 9: Bookkeeping controls

Understand payment methods

Understand controls in a bookkeeping system

Use control accounts

Use the journal

Reconcile a bank statement with the cash book

Module 10: Using accounting software

Set up accounting software

Process sales and purchases transactions

Process bank and cash transactions

Perform period end routine tasks

Produce reports

Module 11: Work effectively in finance

Understand the finance function within an organization

Use personal skills development in finance

Produce work effectively

Understand corporate social responsibility (CSR), ethics and sustainability within organizations

 

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