Accounting Fundamentals

During this course, you will cover assets, liabilities, income & expenses. You will also learn how to read a Balance Sheet, how to prepare a Profit & Loss report & also how to deal with GST properly.

This course is an introduction to the accounting principles that are part of accurate bookkeeping. During the course, you will cover assets, liabilities, income & expenses. Students will learn how to read a Balance Sheet, how to prepare a Profit & Loss report & also how to deal with the GST properly.

This is a great course for those that have used MYOB or other electronic accounting programmes for a while and want to move to the next level of understanding.

Those that are wanting to start bookkeeping using accounting software such as MYOB and Xero will also do well to cover this content before they use the software. Trainer led with time for questions and theory exercises to reinforce the accounting concepts being taught.

This course will give new users an understanding of what is correct & incorrect when they enter data into their new software package instead of just “doing what they are told”.

Learning Outcomes:

Upon completion of this course participants will be able to:

• A brief history of Bookkeeping

• Different business entities

• Accounting concepts & principles

• Debits & Credits and the Accounting Equation

• Different types of businesses & source documents

• Keeping a record of business activity using the Sales, Purchases, Cash Receipts & Cash Payments

• Maintaining the balances in the General Ledger

• Understanding Subsidiary Ledgers

• Prepare & read a Balance Sheet & Profit & Loss

• Bringing your books to Trial Balance stage

• End of Month procedures