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This course explores the accounting cycle and the processes required to enter financial data into the system. It covers how to set up general ledger accounts, enter general ledger transactions, and post the transactions. This course also shows how to perform additional functions such as account reconciliation, budgeting, allocation, period-end procedures, and year-end closing procedures. By attending this course you will learn the fundamentals of accounting as well as reading and analyzing financial statements. You will also appreciate the relationship between accounting and finance and understand the use of debits and credits. Finally, this course will help you to record financial transactions accurately and summarize them in financial statements.
Definition Of Accounting
Understanding The Accounting Cycle
Users Of Accounting Information
Basic Financial Statements
List The Key Financial Statements (Balance Sheet, Income Statement, Changes In Shareholders’ Equity And Cash Flow Statement) And Their Components
Definitions Of The Corporation
Presentation Of Accounting Information By Different Business Entities
The Accounting Equation
Traditional Double-Entry Bookkeeping
Analyzing Transactions And Recording In The System
Main Steps Of Financial Accounting Process
General Journal
General Ledger
Inventory Book
Preparing Ledgers And General Ledgers (GL)
Converting The Gl To Trial Balance (TB)
Analyzing Transactions And Recording In The System
Types Of Adjusting Entries
The Adjusted Trial Balance (ATB)
Mapping Atb To The Financial Statements
Preparing Financial Statements
Closing The Books
The Concept Of Account
What Is A Chart Of Accounts?
Understanding Your ‘accounts’
Hierarchy Of Accounts
System Structure
Exchange Rate Differences
Prepaid And Accrual Concepts And Treatments
Assets
Liabilities
Equity
Expenses
Why Is A Chart Of Accounts Important?
Designing the Chart of Accounts
Maintenance of the Chart of Accounts
Analyzing the Chart of Accounts
Reconciliations and Important Issues
Wrap-Up
Q&A
Conclusion
Averest Training Certificate of Completion or delegates who attend and complete the training course
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This Course can be customized delivered to a group at your facility saving time and money.