ACCOUNTING

Our Course Module

The course offers basic introduction to Accounting, concepts, conventions and standards, accounting for business transactions, journal, ledger, cash book, recording and presenting financial data and Financial tools for effective management.

WEEK 1 -2

Accounting and financial reporting overview

• Course coverage, objectives and format
• Legal and functional forms of business organization
• Source Documents / Accounting Documents
• Conceptual framework of accounting and financial reporting, standards

1. Basic accounting concepts, principles, terminologies
2. Financial reporting rules (PAS, IAS, IFRS, GAAP)

WEEK 3 -4 The accounting process

A. Essential components

• Debit and Credit / Double entry bookkeeping
• Chart of accounts
• Books of accounts / Journals and Ledgers
• Financial statements

B. Methods of Accounting, Amortization and Depreciation

C. The accounting cycle

D. The accounting process: Exercises and practical application

• Transaction analysis
• Journal entries
• Ledger posting
• Trial balance
• Adjusting entries
• Financial statement preparation
• Closing entries

WEEK 5-6 

Basic financial statement analysis

A. Understanding financial statements: Format, contents, uses,
limitations, variations
B. Illustrative review of balance sheet, income statement and
cash fow statement (as time permits)

WEEK 7-8 

Review of the Accounting Process

• Nature of Accounts
• Transaction Analysis
• The Accounting Cycle
• Journal Entries and Posting
• The Trial Balance

Adjusting Journal Entries, Computation & Posting

• Adjusting Entries
• Closing Entries
• Reversal Entries
• The Worksheet
• Post Closing Trial Balance

WEEK 9-10 

The Conceptual Framework of Accounting Theory

• Objectives & Qualitative Characteristics of Financial Reporting
• Elements of Financial Statements

WEEK 11

Preparation of Financial Reports

• Income Statement
• Balance Sheet
• Statement of Owners Equity
• Statement of Retained Earnings

WEEK 12

Bank Recon and Accounting Treatment for VAT