Financial Accounting Fundamentals Course
1Summary
A single misclassified transaction can throw off an entire set of financial statements – which is exactly why every accountant, manager, and finance professional needs a solid grip on financial accounting fundamentals before moving into anything more advanced. This course from the Arab British Fellowship Training Academy builds that grip from the ground up.
Participants start with the core logic of the accounting equation and double-entry recording, then move through the accounting cycle to financial statement preparation and analysis, developing the same working knowledge that underpins every subsequent course in financial management and accounting.
2Objectives and target group
Who Should Attend?
- Accountants and managers who need to strengthen their accounting fundamentals.
- Anyone in a role that requires a solid background in accounting and finance.
Course Objectives:
By the end of the course, participants will be able to:
- Apply core accounting concepts and the accounting equation with confidence.
- Register transactions correctly and apply the basic rules of accounting.
- Modify and correct commercial records when errors occur.
- Prepare financial statements and analyse them.
- Settle and reconcile accounting records.
3Course Content
Module 1: The Accounting Cycle and Core Principles
- Functions and areas of sub-accounting, and how the accounting cycle fits together.
- Principles of accounting – concepts and conventions.
- The accounting equation and account types.
- Discount and credit rules.
Module 2: Recording and Processing Transactions
- Transaction analysis and registration.
- Registration in the ledger and preparing balance accounts.
- Preparing the audit (trial) balance.
- Recordkeeping and general accounting practice.
Module 3: Consumption, Goods, and Cash Settlement
- Methods of consumption and how consumption is accounted for.
- Accounting for goods and its effect on financial statements.
- Settlement of cash flows and bank balances.
- The effect of consumption on cash flows and income taxes.
Module 4: Understanding and Analysing Financial Statements
- Understanding the accounting framework and the completion process.
- How financial statements are analysed once prepared.