Course Outline

Basics of Accounting


12 Hours




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

1.       Module 1: Overview of Accounting

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

2.       Module 2: Ledger and Journal

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

3.       Module 3: Adjusting Entries

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

4.       Module 4: Closing Entries

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

5.       Module 5: The Balance Sheet and Income Statement

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


  • Learning Concepts/Presentations
  • Group Activities and Discussions
  • Tips and Tools
  • Individual and Team Exercises
  • Role Plays/Case Studies
  • Educational Videos
  • Action Plan to ensure Application of the Learning