Basic Accounting

Course Description

Accounting is the recording of financial transactions such as profits, losses, credits and debits plus storing, sorting, retrieving, summarizing and presenting the information in various reports and analyses. Regardless of which job title you fall into, the truth is all employees should learn the basic principles of accounting and develop a knack for managing the financial aspects of a business. It is important for all people, not just accountants or business owners, to have a basic understanding of accounting.

Course Objective:

By the end of this workshop, participants will be able to:

• Understand basic accounting terminology.

• Identify the differences between the cash and accrual accounting methods.

• Keep track of your business by becoming familiar with accounts payable and accounts receivable.

• Use a journal and general ledger to document business financials.

• Utilize the balance sheet.

• Identify different types of financial statements.

Target Audience:

For any individual who do not have any background knowledge of accounting and wish to learn the basics of accounting concepts which is an important advantage of any job role.