Overview
Any business, from SMEs to large companies, will efficiently track their performance with proper bookkeeping and accounting procedures. This should be done properly because accurate bookkeeping and accounting will eventually help you plan and grow your company. In our seminar, you will find out which records you should be keeping and how to keep your business records.
Objectives
- To gain an understanding of the basic accounting concepts, procedures, and processes in a simple and practical way.
- To be able to learn actual applications of said concepts, procedures and processes through a series of workshops.
- To be able to appreciate and know the importance of the financial accounting reports and information for a better decision making.
Who Should Participate
The seminar is intended for those who want to learn the following:
- Bookkeeping
- Accounting procedures
Key Topics
I. Introduction
a. Accounting Definition
b. Users of Financial Accounting Information
II. Basic Accounting Concepts and Principles
III. Accounting Equation and the Rules of Debit and Credit and the Double Entry Bookkeeping System
IV. Accounting Cycle, i.e., analyzing, recording, classifying, summarizing and interpreting
V. Common Types of Accounting Transactions and their Impact on the Accounting Equation
VI. Books of Accounts
a. Importance and Legal Basis for the Use of Books of Accounts
b. Different Types of Books of Accounts (Journals and Ledgers)
c. Use and Definition of Each Book of Accounts
d. Recording Information on Each Book of Accounts
VII. Basic Financial Statements and its Preparation
a. Components of the Basic Financial Statements (applicable to every type of business organization)
b. Contents and Use of Each Basic Financial Statement
c. Simple Analysis of Financial Statements
VIII. Question and Answer
IX. Workshop (actual)
a. Journalizing
b. Posting to general ledger/subsidiary ledger
c. Preparing a T-account
d. Preparing trial balance and financial statements
*Please bring a calculator
