Introduction to Financial Accounting

TARGET GROUP: Students new to the subject of Accounting & Accounts Clerks.

BACKGROUND: This course will expose participants to the introductory concepts & principles of Accounting. It will also give an overview of the many different careers in the field of accounting. The course is structured in such a way that participants will be introduced to small business and how the problems of Accounting arise, and how the various concepts of Accounting deal with these problems.

COURSE CONTENT:

MODULE 1

  1. Accounting Equation and the Balance Sheet
  2. Assets, Liabilities & Capital
  3. The double entry system for assets, liabilities and capital.
  4. Accounting Concepts
  5. The Assumption of the stability of currency

MODULE 2

  1. Balancing of Accounts.
  2. Accounts for Debtors
  3. Accounts for Creditors
  4. Computers & Accounts

MODULE 3

  1. The Journal
  2. Main Books of original entry
  3. Typical uses of the Journal
  4. The Accounting Cycle

MODULE 4

  1. Cash Books
  2. Discount Columns in Cash Books
  3. Bank Reconciliation Statements
  4. Bank Overdrafts
  5. Dishonoured Cheques

MODULE 5

  1. The Trial Balance
  2. Trading Profit & Loss Account: An Introduction
  3. Balance Sheet
  4. Trading Profit & Loss Account and Balance Sheet
  5. Further considerations

ASSESSMENT: Home assignment, Quizzes and Written Examination