Accounting Procedures and Control

Accounting Procedures and Control 150 150 GCSS Inc.

Introduction:

This 2-day program aims to educate on the principles and controls where accounting operates in.  The fundamental concepts will be discussed as well as examples to help participant see how concepts translate on paper. 

Learning Objectives:

The overall objective of this course is to:
• Learn about the fundamentals and concepts of accounting
• Educate on the accounting procedures and how to implement them
• Understand the importance of having controls and concepts at hand

Program Duration:

2 days

Who Should Attend:

  • Business professionals
  • Entrepreneurs/ Aspiring entrepreneurs
  • Executive/ Manager
  • Aspiring Accountants/ Financial analysts/ Investment Bankers
  • Any individuals wanting to acquire practical skills

Program Outline/Course Overview

Day 1

Topic 1: Introduction

Topic 2: Accounting Definition

Topic 3: Users of Financial Accounting Information

Topic 4: Integrating the Needs of All Departments Concerned Regarding Accounting

Topic 5: 8 Steps in the Accounting Cycle

Topic 6: Basic Accounting Concepts and Principles

Topic 7: Accounting Equation and the Rules of Debit and Credit and the Double Entry Bookkeeping System

Topic 8: Accounting Cycle
• Analyzing
• Recording
• Classifying
• Summarizing
• Interpreting

Topic 9: Common Types of Accounting Transactions and their Impact on the Accounting Equation

Day 2

Topic 1: 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

Topic 2: Basic Financial Statements and its Preparation

Topic 3: Components of the Basic Financial Statements (applicable to every type of business organization)

Topic 4: Accounting Controls and Procedures
• Cash Control
• Documentation
• Separation of Duties
• Information Security
• Audit

Topic 5: Understanding Your Company Procedures and Its Importance

Topic 6: Common Mistakes in Setting-up Controls and Procedures

Topic 7: Simple Analysis of Financial Statements
• Understanding Financial Statements
• Sample

Summary and Wrap-up

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