Accounting Fundamentals is specially designed for anytime need of practical, day-to-day accounting knowledge and skills needed to understand and interpret accounting reports used in making effective business decisions. With financial reports becoming an increasingly invaluable tool for businesses, it is seen not only as a summary of statistics but as an instrument to analyze business operations based on their financial performance.

This training comes in 5 parts!

Journal and Journalizing
  • Accounting definition, cycle, information process and users of information
  • Accounting equation and elements (rules of debits and credits)
  • The chart of accounts
  • Nature of journal and kinds of journal.
  • Analyzing and recording the transaction (journal & journalizing)
Posting, Trial balance, and adjusting entries
  • Definition, kinds and importance of ledger.
  • Classifying the journal entries and posting to the ledger
  • Summarizing the ledger /preparing the trial balance
  • Preparation of adjusting entries
  • Preparation of adjusted trial balance
Financial Statements
  • Identifying the revenue and expense from the adjusted trial balance and computation of the net income (loss) T
  • The assets, liabilities and equity accounts
  • The effect on net income (loss) to the balance sheet or real accounts.
  • The use of the income summary accounts in closing the nominal accounts
  • Preparing the post-closing trial balance for the next accounting period
Internal Control
  • Defining the internal control.
  • The Interrelated components of IC
  • The roles, responsibilities, and authorities.
  • Limitations and effectiveness
  • Assessments and evaluation.
Financial Ratios
  • Understanding the ratio analysis
  • The four classifications of ratio analysis
  • Liquidity, efficiency, leverage and profitability ratio
  • Analyzing and computing the ratios from the given financial statements.

Learning Outcome

  • Study operating performance using income and cash flow statements
  • Use financial statements to gain insight into business operations and ways of improving them
  • Read and interpret balance sheets to pinpoint business strengths and weaknesses.
  • Make informed management decisions using basic accounting concepts and processes

Target Audience

  • Managers who want a good understanding of financial reports and the ability to utilize this information productively
  • Small to medium business owners who want more involvement with company finances, enabling closer monitoring and control of its financial performance
  • Bookkeepers or account clerks who want a greater appreciation of accounting terminology and processes
  • Any individual in need of basic, day-to-day accounting



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