Why Attend This Training Course?
Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses, license plates, phones, prices, and of course, money! Numbers connect us all to each other in many more ways than we might imagine. Essentially, our world revolves around numbers. Some of us enjoy dealing with numbers while others may have a fear of them, or even a phobia. For those of you who have already recognized and appreciate the impact that numbers actually have on just about everything, you deserve a cookie.
What Is The Training Course Methodology?
This training course methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as theoretical lectures and/or open discussion to exchange opinions and experiences, scenarios, innovative thinking brainstorming. Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets.
Who Should Attend This Training Course?
The training course is designed for technical and middle departments that help senior management in offering both the required information and analysis to make investment decisions, particularly,
Financial departments
Projects evaluation units
Information analysis and collection units
What Are The Training Course Objectives?
Understand basic accounting terminology
Identify the differences between the cash and accrual accounting methods
Keep track of your business by becoming familiar with accounts payable and accounts receivable
Use a journal and general ledger to document business financials
Utilize the balance sheet
Identify different types of financial statements
Uncover the reasons for and actually create a budget
Be familiar with internal and external auditing
What Is The Training Course Curriculum?
Basic Terminology (I)
Balance sheet
Assets, liabilities, equity, and income statement
Revenue
Cost of goods sold
Expenses
Accounting period
Basic Terminology (II)
Accounts receivable
Accounts payable
Depreciation
General ledger
Interest, inventory, journals, payroll, and trial balance
Case study (I)
Accounting Methods
Cash method
Accrual method
Differences between cash and accrual
Keeping track of your business
Accounts payable
Accounts receivable
The journal
The general ledger
Cash management
Case study (II)
Understanding the Balance Sheet
The accounting equation
Double-entry accounting
Types of assets
Types of liabilities
Equity
Other financial statements
Income statement
Cash flow statement
Capital statement
Budget vs. Actual
Payroll Accounting / Terminology
Gross wages
Net wages
Employee tax withholding’s
Employer tax expenses
Salary deferrals
Employee payroll
Employee benefits
Tracking accrued leave
Government payroll returns/reports
End of Period Procedures
Depreciating your assets
Reconciling cash
Reconciling investments
Working with the trial balance
Bad debt
Posting adjustments and corrections
Financial Planning, Budgeting and Control
Reasons for budgeting
Creating a budget
Comparing budget to actual expenses
Auditing
What is an audit?
When and why would you audit? Internal and external
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