Introduction to recordkeeping (Online / Remote)
1Summary
The Arab British Fellowship Training Academy offers this course to cover basic principles, terms and concepts of recordkeeping. This course provides a good opportunity for participants to practice and apply the methods of managing accounts through educational sessions by a number of academics from the accounting department at the end of each session of the course.
2Objectives and target group
Target audience of this course:
Individuals with limited background or who do not have knowledge about the accounting and recordkeeping process such as students, teachers, small business workers and public auditors.
Course Objectives:
After completing the course, students will be able to learn the following:
- Understand the nature of the recordkeeping function and control accounts.
- Understand the effect of transactions on the accounting equation.
- Know basic and implement practical Value Added Tax.
- Processing accounting data in sub-journals and books of accounts.
- Prepare the audit balance.
- Reconciling the control of the accounts of creditor customers and account of the general ledger.
- Reconciling the control of the accounts of debtor customers and account of the general ledger.
- Complete the bank reconciliation report and reconcile the bank account control with the balance of the final bank statement.
- Understand the difference between a continuous inventory system and a periodic inventory system.
- Final inventory calculation using weighted average or retail method or FIFO.
3Course Content
- Recordkeeping principles and terms.
- Transaction accounting.
- Reconciling the control of debtors and creditors
- Bank reconciliation statement.
- Inventory systems and methods.