Introduction

Understanding the numbers in business is very crucial for its success.  Any entrepreneur or business executive who wants to have a good hold in their business would soon realize that having even a fundamental knowledge in accounting is as or even more important as other functions in the business.  Soon enough, relying on an accountant would limit movement and would pose a liability.  Moving forward in the business would mean understanding the numbers that drive it.

This 2-day program aims for the participant to have the fundamental knowledge and tools which will enable the participant to apply these at work or in his business.  Workshops and some examples will be provided to enable participants to actually demonstrate how it is to do basic accounting so the application will be smooth post-training.  

Learning Objectives

The overall objective of this training is to:
• Provide a working knowledge of accounting
• Assist a non-accountant on how to implement basic accounting
• Learn the best practices

Program Duration

2 days

Who Should Attend

  • Aspiring Entrepreneurs/ Entrepreneurs
  • Business executives
  • Managers
  • Any individuals who want to acquire practical knowledge/skills

Course Outline

Day 1

  • Introduction
  • Accounting Definition
  • Users of Financial Accounting Information
  • Integrating the Needs of All Departments Concerned Regarding Accounting
  • Accounting Cycle
  • 8 Steps in Accounting Cycle
  • Basic accounting Concepts and Principles
  • Accounting Equation and the Rules of Debit and Credit and the Double Entry Bookkeeping System
  • Accounting Cycle
     – Analyzing
     – Recording
     – Classifying
     – Summarizing
     – Interpreting
  • Common Types of Accounting Transactions and their Impact on the Accounting Equation

Day 2

  • Books of Accounts
  • Different Types of Books of Accounts (Journals and Ledgers)
  • Use and Definition of Each Book of Accounts
  • Recording Information on Each Book of Accounts
  • Basic Financial Statements and its Preparation
  • Components of the Basic Financial Statements (applicable to every type of business organization)
  • Accounting Controls and Procedures
     – Cash Control
     – Documentation
     – Separation of Duties
     – Information Security
     – Audit
  • Understanding Your Company Procedures and Its Importance
  • Common Mistakes in Setting-up Controls and Procedures
  • Simple Analysis of Financial Statements
     – Understanding Financial Statements

For any questions, email TRAININGS@GCSSINC.COM or call 0917-836-5612.