What you will learn
Accounting is a common measuring stick in small business. A business owner can use accounting information to measure her company’s business and operational performance. Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.
The course helps to gain the skill required to be a star in the art of accounting and book keeping.
Module 1:- Book keeping basics
Basics of Financial Reporting: The main elements of financial reporting, The users and stakeholders, The scope of financial statements reporting, The regulatory frameworks, Duties and Responsibilities of Directors, Financial Information: Qualitative Characteristics.
Concept of Double Entry Accounting system: Principles of Double entry Book keeping, Ledger Accounts, Books of primary entry and Journal entries.
Bookkeeping transactions: Sales and Purchase, Cash, Inventory, Tangible non-current assets, Depreciation, Intangible Non-current assets and amortization, Accruals and Prepayments, Receivables and Payables, Finance cost
Module 2:- Preparation financial statements
Preparing Trail Balance: Trial Balance, Bank reconciliation, Suspense accounts.
Preparing Financial Statements: Statement of Financial Position, Statement of Profit & Loss, statement of Cash Flows.