Fundamentals Of Accounting For Administrative And Support Staff

By the end of the program, participants will be able to:

• Identify importance of accounting in running businesses.
• Explain the accounting cycle process and properly distinguish and classify account categories within the accounting system in the company.
• Properly account for transactions affecting assets, liabilities and equities.
• Effectively prepare balance sheets and statements of income and owners’ equity.
• Acquire basic accounting knowledge and skills needed to better support management.
• Perform hands-on bank reconciliation, account analysis, and General Ledger (GL) to sub-ledger

Who Should Attend?

Staff accountants, accounting clerks, junior accountants, entry-level accountants and administrative and support employees who work closely with Accounts or support management with tasks related to bookkeeping and financial reports. This program is also helpful for non-accounting professionals, especially in IT, who provide support to accounting systems and staff.

Course Outline

Importance of Accounting in Business

• The Role and Purpose of Accounting
• The Rules of Accounting: Generally Accepted Accounting Principles (GAAP)
• The Accounting System
• The Fundamental Accounting Equation

An Overview of Accounting Cycle

• Seven Basic Steps of the Accounting Cycle:
  • Journalizing Transactions
  • Posting Transactions
  • Preparing Trial Balance
  • Preparing Financial Statements
  • Journalizing Adjusting Entries
  • Closing Entries
  • Preparing Post-Closing Trial Balance (TB)

Analyzing Transactions

• Using Accounts to Summarize Transactions
• The Rules of Debits and Credits
• Preparing Trial Balance (TB)

The Matching Principle

• Accrual versus Cash Basis Accounting
• Adjusting Entries and the Adjusted TB

Accounting for Assets

• Cash and Bank Accounts
• Accounts and Notes Receivable
  • Allowance for Doubtful Accounts
• Inventory and Cost of Sale
• Fixed Assets and Intangible Assets

Accounting for Liabilities and Equity

• Current Liabilities
• Long-Term Liabilities
• Contributed Capital
• Retained Earnings

Preparing Financial Statements

• The Balance Sheet
• The Income Statement
• Statement of Owners’ Equity

Hands-On Workshops

• Performing Bank Reconciliation
• Performing Account Analysis
• Reconciling General Ledger to Sub-ledger Accounts

Course Methodology

A variety of methodologies will be used during the course that includes:

• (30%) Based on Case Studies
• (30%) Techniques
• (30%) Role Play
• (10%) Concepts
• Pre-test and Post-test
• Variety of Learning Methods
• Lectures
• Case Studies and Self Questionaires
• Group Work
• Discussion
• Presentation

Course Fees

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Course Timings

Daily Course Timings
08:00 - 08:20       Morning Coffee / Tea
08:20 - 10:00       First Session
10:00 - 10:20       Coffee / Tea / Snacks
10:20 - 12:20       Second Session
12:20 - 13:30       Lunch Break & Prayer Break
13:30 - 15:00       Last Session