Organizations that manage funds are dedicated to accurately recording all financial transactions. The course "Introduction to Financial Accounting," offered by the Arab British Fellowship Training Academy, employs a "learning by doing" approach with various interactive exercises. This course highlights the critical role accounting plays in supporting financial decision-making. Participants will gain insights into the functions of accounting and reporting systems within an organization and will explore various conceptual issues related to accounting estimates.

This course also provides an excellent opportunity for participants to practice and apply accounting management techniques through educational sessions led by academics from the accounting department at the end of each class.

The course serves as a foundational step for those pursuing further studies in financial management and accounting. It introduces the dual-entry system and enhances understanding of essential principles in financial accounting. By taking this course, participants will build a solid foundation for future studies in financial accounting.

Target audience of this course:

Arab British Fellowship Training Academy offers this course to the following institutions:

• Supervisory agencies and central banks.
• Financial institutions and commercial banks.
• Investment banks, housing and savings associations.
• Investment funds and brokering companies.
• Stock exchanges.
• Insurance companies and multinational corporations.
• Accounting companies and consulting firms.
• Law companies and rating agencies.
• Multilateral financial institutions.

Course Objectives:

After completing the course, students will be able to learn the following:

• Accounting concepts.
• Accounting Equation.
• Accounting rules.
• Transaction registration.
• Modification and correction of commercial records.
• Preparation of financial statements.
• Financial statements analysis.
• Settlement of accounting records.

• Terminal expenses and its purposes.
• Terminal expenses record.
• Types of terminal expenses records.
• Monitoring terminal expenses.
• Basics of inventory accounting.
• Inventory accounting systems.
• Inventory evaluation methods.
• Inventory accounting.
• Inventory and its impact on financial statements.
• Principles and terms of bookkeeping.
• Accounting for transactions.
• Reconciliation between the control of debtors and creditors.
• Bank reconciliation statement.
• Systems and methods of inventory.
• Functions and areas of sub-accounting.
• Accounting course.
• Principles of accounting - concepts and conventions.
• Accounting Equation.
• Account types.
• Discount and credit rules.
• Understanding accounting framework.
• Understand the accounting process.
• Understand the completion process.
• Understand how financial statements analyzed.
• Understand how consumption accounted for.
• Understanding goods accounting.
• Settlement of cash flows and bank balances.
• Recordkeeping and accounting.
• Transaction analysis.
• Transaction registration.
• Registration in the ledger.
• Balance accounts.
• Prepare the audit balance.
• Methods of consumption.
• Accounting consumption.
• Consumption and its effect on cash flows and income taxes.