Consumption — how assets lose value over time and how that loss hits the income statement — is one of the areas where organisations most often get the numbers wrong, simply because it touches almost every account on the books. This training course by the Arab British Fellowship Training Academy puts consumption accounting at the centre, then builds outward to the full transaction cycle around it, using a hands-on "learning by doing" approach.

Participants come away understanding not just how to record consumption correctly, but how accounting and reporting systems in general support sound financial decision-making across the organisation.

This training course is designed for professionals at:

• Supervisory agencies, central banks, and commercial banks.
• Investment banks, housing and savings associations, investment funds, and brokering companies.
• Stock exchanges and insurance companies.
• Multinational corporations and multilateral financial institutions.
• Accounting firms, consulting firms, law firms, and rating agencies.

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

• Apply accounting concepts and the accounting equation, along with accounting rules for registering transactions.
• Modify and correct commercial records and prepare complete financial statements.
• Analyse financial statements and settle accounting records at period end.

Module 1: Consumption Accounting — Methods and Impact

• Methods of consumption and how it is accounted for.
• Consumption's effect on cash flows and income taxes.

Module 2: The Transaction Cycle Refresher

• Transaction analysis and registration.
• Registration in the ledger, and principles and terms of bookkeeping.
• Recordkeeping practices.

Module 3: Balancing and Reconciling the Books

• Balancing accounts and preparing the audit (trial) balance.
• Reconciliation between debtors' and creditors' control accounts, and the bank reconciliation statement.
• Understanding the completion process.

Module 4: Inventory and Goods Accounting

• Basics and systems of inventory accounting.
• Inventory evaluation methods and understanding goods accounting.
• Inventory's impact on the financial statements.

Module 5: Framework, Equation and Reading the Statements

• Principles of accounting — concepts and conventions, the accounting equation, and account types.
• Discount and credit rules, and understanding the accounting framework.
• Understanding how financial statements are analysed, and the functions of sub-accounting.