Fundamentals of Accounting for Administrative and Support Staff

Fundamentals of Accounting for Administrative and Support Staff

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Program Objectives:
By the end of the program, participants will be able to:
  • Identify the importance of accounting in running the business.
  • Acquire basic accounting knowledge and skills needed to better support management.
  • Properly distinguish and classify account categories within the accounting system in the company.
  • Accurately account for transactions affecting assets, liabilities and equities.
  • Correctly account for transactions affecting revenues and expenses.
  • Effectively prepare statements of income and balance sheets.
  • Perform hands-on bank reconciliation, account analysis, and General Ledger (GL) to sub-ledger reconciliation
Who should attend:
Administrative and support employees who work closely with accounts or support management with tasks related to bookkeeping and financial reports. This program is also helpful for non-accounting professionals, such as HR, IT and Admin, who provide support to accounting systems and staff.
Program Outline
Importance of Accounting in Business
  • The Role and Purpose of Accounting
  • The Accounting System
  • The Fundamental Accounting Equation
The Accounting Principles
  • Accrual  versus Cash Basis Accounting
  • Matching Principle and Revenue Recognition
Accounting Cycle
  • Steps of the Accounting Cycle:
    • Analyzing Transactions
    • Recording Transactions
    • Preparing Trial Balance
    • Recording Adjusting Entries
    • Recording Closing Entries
    • Preparing Financial Statements
    • Preparing Post-Closing Trial Balance
Analyzing and Recording Transactions
  • Using Accounts to Summarize Transactions
  • The Rules of Debits and Credits
  • Preparing Trial Balance (TB)
Accounting for Assets
  • Cash and Bank Accounts
  • Accounts and Notes Receivable and Allowance for Doubtful Debts
  • Inventory and Cost of Sale
  • Fixed Assets and Intangible Assets
Accounting for Liabilities and Equity
  • Current Liabilities and Long-Term Liabilities
  • Contributed Capital and Retained Earnings
Adjusting Entries
  • Adjusting for Accruals
  • Adjusting for Deferrals
Preparing Financial Statements
  • The Income Statement
  • Statement of Owners’ Equity
  • The Balance Sheet
Hands-On Workshops
  • Performing Bank Reconciliation
  • Performing Account Analysis
  • Course Review Material

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Date And Time

2022-07-18 @ 09:00 AM to
2022-07-22 @ 02:00 PM

Event Category

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