Technical Programmes

Financial Accounting Foundation Course

January 28, 2020

Course Duration: Tailored


The objective of this course is to develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements. This includes:

1. Financial accounting

Overview

·    Context and purpose of financial accounting

·    The regulatory framework

·    The qualitative characteristics of financial information

2.  Double-entry:

Recording of transactions & events

·    Transactions and the books of prime entry / Trial balance

·    Accounting for Inventory

·    Accruals and prepayments

·    Sales tax

·    Tangible assets

·    Intangible assets

·    Bad and doubtful debts

·    Provisions and contingencies

·    Bank reconciliations

·    Control accounts

·    Correction of errors

·    Incomplete records

3. Reconciliations ·    Reconciliations & other control accounts (practical element)
4. Basic financial statements:

Preparation overview from trial balance &

Interpretation of financial statements

·    Statement of Financial Performance

·    Statement of Financial Position

·    Statement of Changes in Net Assets

·    Statement of cash flows

·    Events after reporting date

·    Interpretation of financial statements