Fundamentals of financial accounting 

(Essentials training)

This course introduces delegates to double-entry bookkeeping principles and focuses on accurately categorising transactions into accounts. It also explains how to account for VAT and the difference between accruals and cash accounting.

It's suitable for those with no or limited bookkeeping understanding and experience, and those finding themselves in a role where, for example, they must code purchase orders correctly.

What it covers

• Categories of accounts
• The principles of double-entry bookkeeping
• VAT
• The difference between accruals accounting and cash accounting

Skills gained

After completing the course, delegates will have learned:

• how to differentiate between accounting and bookkeeping
• how to categorise accounts and transactions
• the principles of double-entry bookkeeping and how to apply them
• an understanding of VAT and how it works
• how to explain the difference between accruals and cash accounting
• the importance of finance skills to enable their business to operate more efficiently
• how to make better business decisions based on finances.

Length: The course runs for half a day.