Financial Accounting & Bookkeeping

Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses, license plates, phones, prices, and of course, money! Numbers connect us all to each other in many more ways than we might imagine.

Essentially, our world revolves around numbers. Some of us enjoy dealing with numbers while others may have a fear of them, or even a phobia. For those of you who have already recognized and appreciate the impact that numbers actually have on just about everything, you deserve a cookie.

What Is The Training Course Methodology?

This training course methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as theoretical lectures and/or open discussion to exchange opinions and experiences, scenarios, innovative thinking brainstorming.

Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets. 

Who Should Attend This Training Course?

The training course is designed for technical and middle departments that help senior management in offering both the required information and analysis to make investment decisions, particularly,

• Financial departments

• Projects evaluation units

• Information analysis and collection units

What Are The Training Course Objectives?

• 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

• Uncover the reasons for and actually create a budget

• Be familiar with internal and external auditing

What Is The Training Course Curriculum?

Basic Terminology (I)

• Balance sheet

• Assets, liabilities, equity, and income statement

• Revenue

• Cost of goods sold

• Expenses

• Accounting period 

Basic Terminology (II)         

• Accounts receivable

• Accounts payable

• Depreciation

• General ledger

• Interest, inventory, journals, payroll, and trial balance

• Case study (I)

Accounting Methods

• Cash method

• Accrual method

• Differences between cash and accrual

• Keeping track of your business

  • Accounts payable

  • Accounts receivable

• The journal

• The general ledger

• Cash management

• Case study (II)

Understanding The Balance Sheet   

• The accounting equation

• Double-entry accounting

• Types of assets

• Types of liabilities

• Equity

• Other financial statements

  • Income statement

  • Cash flow statement

  • Capital statement

  • Budget vs. Actual

Payroll Accounting / Terminology  

• Gross wages

• Net wages

• Employee tax withholding’s

• Employer tax expenses

• Salary deferrals

• Employee payroll

• Employee benefits

• Tracking accrued leave

• Government payroll returns/reports       

End Of Period Procedures     

• Depreciating your assets

• Reconciling cash

• Reconciling investments

• Working with the trial balance

• Bad debt

• Posting adjustments and corrections 

Financial Planning, Budgeting And Control

• Reasons for budgeting

• Creating a budget

• Comparing budget to actual expenses

• Auditing

• What is an audit?

• When and why would you audit? Internal and external