COURSE OUTLINE –

  • The accounting process
  • Terms and definitions
  • Accrual vs. cash accounting
  • Introduction to the accounting equation
  • Depreciation
  • Accounting and financial reporting overview
  • Course coverage, objectives and format
  • Legal and functional forms of business organization
  • Conceptual framework of accounting and financial reporting
    • Basic accounting concepts, principles, terminologies
    • Financial reporting rules (PAS, PRFS, IAS, IFRS)
    • Exercises
  • The accounting process
  • Essential components
    • Chart of accounts
    • Transaction media
    • Books of accounts
    • Financial statements
  • Double entry bookkeeping
  • The accounting cycle
  • The accounting process: Exercises and practical application
    • Transaction analysis
    • Journal entries
    • Ledger posting
    • Trial balance
    • Adjusting entries
    • Financial statement preparation
    • Closing entries
  • Basic financial statement analysis
  • Illustrative review of balance sheet, income statement and cash flow statement (as time permits)
  • Basic preparation of financial statements

COURSE OBJECTIVE

This course is to enable students to gain an understanding of the basic accounting concepts, procedures and process in a simple and practical way. to be able actual application of said concepts, procedures and processes through series of workshop. likewise to be able to appreciate and know the importance of the financial accounting reports and information for a better decision making