Financial accounting
(Essentials training)
This course reviews double-entry principles before focusing on common in-period bookkeeping transactions that are entered into the accounting systems via journals. It looks at errors that can occur and how to correct them to produce initial financial statements.
It's suitable for those who work in the finance department who need a grounding on routine in-period transactions.
What it covers
- The principles of double-entry bookkeeping
- Cash vs credit transactions
- Common journals and the trial balance
- Correction of errors and financial statements
Skills gained
After completing the course, delegates will have learned:
- to understand financial accounting and the roles of bookkeepers and accountants
- to understand the principles of double-entry bookkeeping and how to apply them
- how to record and calculate VAT
- to understand what journals are and their purpose
- to explain the purpose of the suspense account and how to clear it
- to understand the importance of finance skills to enable your business to operate more efficiently
- to make better business decisions based on finances
- confidence and effectiveness when discussing finances to increase efficiency and profit
- to have more informed conversations with finance colleagues to remove the risk of miscommunication or misunderstanding
- to provide more insightful reports based on financials.
- Length: The course runs for one day.
