Business and Management

Basics of Accounting Workshop

This training program is designed to help you acquaint others with the accounting cycle. In this course, participants will learn the eleven-step accounting cycle, how to use recordkeeping systems, key accounting vocabulary, the differences between cash and accrual accounting, and accounting decision making.

hours

12

language

English

Summary

This training program is designed to help you acquaint others with the accounting cycle. In this course, participants will learn the eleven-step accounting cycle, how to use recordkeeping systems, key accounting vocabulary, the differences between cash and accrual accounting, and accounting decision making.

Target Audience

This course will appeal to a wide range of audiences and is intended for Business Professionals who intend to earn accounting skills.

Skills Gained

Upon completion of workshop participants will be able to:

  • Understand the basics of accounting
  • Familiarize themselves with ledgers and journals
  • Learn how to prepare a balance sheet and an income statement

Topics Covered

  • Introduction
  • Business Decisions
  • The Accounting Cycle
  • Cash or Accrual Accounting
  • Setting Up the Books
  • Key Word Recognition
  • Single-Entry and Double-Entry Recordkeeping

  • The Ledger
  • The "T" Account
  • Case Study: Ledger Entries
  • The Trial Balance
  • Ledger Accounts
  • The Journal

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  • General Rules for Adjusting Entries
  • Adjusting Current and Long-Term Assets
  • Adjusting Current Liabilities
  • Adjusting Accrued Expense
  • Adjusting Accrued Revenue

  • Closinounts
  • Self-Test: Closing/Post-Closing Trial Balance
  • g Entries
  • Temporary and Permanent Accounts
  • Four Basic Entries to Closing Accounts
  • Closing Entries Exercise
  • Self-Test: Closing Acc

  • Preparation of the Financial Statements
  • The Balance sheets
  • The Income Statement
  • Review Financial Statements
  • Case Study: Financial Statements
  • Special Considerations: The Merchandise Company

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