Accounting and Finance > Fundamental Accounting : A Practical Approach

Fundamental Accounting : A Practical Approach

4.6

Course Objectives

At the end of this workshop, participants will

· Understand the fundamental principles and purpose of accounting.

· Learn the accounting cycle and the process of recording financial transactions.

· Develop basic financial statements and understand their components.

· Analyze business transactions and their impact on financial statements.

· Record transactions in journals and ledgers.

· Understand inventory accounting and valuation methods.

· Manage petty cash and prepare bank reconciliation statements.

· Make necessary adjustments and understand the closing process in accounting.

Target Audience

Case Study
Short Quizzes
Interactive and experiential workshop facilitation

Methodology

Participants will gain a solid understanding of what accounting is, the accounting process, and how to create and analyse simple financial statements. Attendees will learn to record transactions in journals and ledgers, manage inventories, handle petty cash, and prepare bank reconciliation statements.

Course Modules

Module 1: Introduction to Accounting Concepts & Finance Statements
- What is accounting
- Basic accounting principles and concepts
- Key concepts of financial accounting & reporting system
- Types of financial statements & relationship
- Balance Sheet
- Profit & Loss
- Statement of cash flows
Module 2: Bookkeeping Process & Transactions Analysis
- Recording Process for Journals and Ledgers
- Introduction to journals and ledgers
- Recording transactions in journals
- Posting journal entries to ledgers
- Adjustments and Closing Process
- Importance of adjusting entries
- Common types of adjustments: Accruals, deferrals, and estimates
- Preparing adjusting entries
- Transaction Analysis
- Identify & analyzing business transactions
- Understanding the impact of transactions on financial statements
Module 3: Accounting for Inventories & Petty Cash
- Accounting for Inventories
- Types of inventory systems: Periodic vs. perpetual
- Methods of inventory valuation: FIFO, LIFO, and weighted average
- Practical examples and exercises
- Petty Cash and Bank Reconciliation Statements
- Managing petty cash funds
- Preparing and maintaining petty cash records
- Understanding bank reconciliation statements
- Practical exercise: Preparing a bank reconciliation statement
Module 4: Integrating Balance Sheet & Income Statement
- Understanding the connection between the balance sheet and the income statement
- How net income affects the balance sheet through retained earnings
- Real-life examples and case studies
- Group activity: Creating a comprehensive financial overview by linking the income statement and balance sheet

Get To Know The Trainer

Trainer Kelvin

4.5

Mr.Kelvin provides training and mentoring in technical financial trading, having won accolades and led University of Malaya team to emerge as top graduate team honour in the prestigious world collegiate 2018 trading competition by Chicago Mercantile Exchange, the oldest and largest financial exchange in the world. Given his extensive involvement in the banking industry, he has structured & closed countless large size corporate deals with impeccable track record that speaks volume of his financial analysis & credit management prowess.

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THIS PUBLIC COURSE INCLUDES

*T&C Applies

PARTICIPANT REVIEWS FOR THIS COURSE

4.6

YE
Yulriza Permana Ekoputra
Executive, Research and Development
5
MY
Muhammad Yasir
Executive, Research and Development
5
WA
WAN AMINAH BINTI WAN AHMAD
Junior Executive, IT Management
5
CB
Chris Adrianne S. Benavidez
Executive, Research and Development
5
SR
SITI AIDA BINTI RAZALI
Executive, IT Management
5
M
Melvin
Junior Executive, Accounting and Finance
5
NS
Nur Syarira binti Md Som
Junior Executive, Accounting and Finance
5
ZZ
Zahedeh Zamanian
Executive, Engineering
5
SD
Stella Mary David
Senior Executive, Others
5
Easy to understand and engaging training.
MM
Maznira binti Muhamad Mazlan
Junior Executive, Research and Development
5
UN
UMI AZUREEN BINTI NOORHISHAM
Executive, IT Management
5
Weel training session
NS
NURUL SYAKIRAH BINTI SULIMAN
Junior Executive, Others
5
JF
Jafran Ahmed Mohamed Faiz
Executive, Accounting and Finance
5
IU
Ikmal Hakim bin Umar
Executive, IT Management
4
Kelvin has a vast, extensive knowledge in finance, accounting, and economy. What could be improved is to add more exercises into the training.
V
Vigneshwaramoorthy
Senior Executive, Research and Development
4
S
Suresh
Junior Executive, Research and Development
4
HL
Hasnisha Binti Ladeheng
Executive, Research and Development
4
OX
Ooi Shih Xing
Junior Executive, Others
4
TS
Tan Pei Shan
Junior Executive, Others
4
R
Raymond
Junior Executive, Accounting and Finance
4
SS
Shanny Cheah Phei Shan
Manager / Supervisor, IT Management
3