Basic Financial Accounting

Accurate bookkeeping and accounting is critical in tracking the performance of any business, whether it’s a small, medium or large company.

Accounting for Non-Accountants is a 2-day training course designed for individuals without accounting background but require understanding on how business transactions are recorded, summarized, analyzed and interpreted for decision making purposes.

Know-how of keeping and maintaining Books of Accounts as mandated by the Bureau of Internal Revenue can be acquired through practical application or hands on experience of Accounting theories and concepts.

LEARNING OBJECTIVE

At the end of this training, learners will be able to:

  1. Gain insight on the fundamental principles and concepts of bookkeeping and accounting;
  2. Understand the accounting process, structure accounting entries, and recognize basic lapses in transaction recording and financial reporting;
  3. Appreciate the contents, purpose, usage, and limitations of financial statements, i.e., balance sheet, income statement, and cash flow statement for decision-making purposes;
  4. Install basic internal controls to safeguard assets and maintain the integrity of the accounting and financial reporting process;
  5. Learn how to perform basic interpretation of business performance through the financial statements

LEARNER’S BENEFIT

  1. Beginners in the Micro to Small businesses need not hire nor pay for an accountant to keep track of their accounting records.
  2. Manage cash flow better.
  3. Understand how to compute results of production as basis for business decisions or future business strategies.
  4. Understand the accounting process and learn to establish internal control measures.

LEARNING OUTLINE

A. Understanding Accounting

  1. Nature and Definition
  2. Users of Financial Accounting Information
  3. Legal and Functional Forms of Business Organization

B. Basic Accounting Concepts, Principles & Terminologies

C. Accounting Equation: The Rules Of Debit & Credit, and The Double Entry Accounting System

D. Accounting Cycle

  1. Recording
  2. Classifying
  3. Summarizing
  4. Interpreting

E. Common Types of Accounting Transactions & Their Impact On The Accounting Equation

F. Books of Accounts

  1. Importance and Legal Basis for the Use of Books of Accounts
  2. Definition, Types and Purpose of Books of Accounts (Journals and Ledgers)
  3. Specific Information as Required by Tax Authorities

G. Basic Financial Statements & Their Preparation

  1. Components of the Basic Financial Statements
    (applicable to every type of business organization)
  2. Contents and Use of Each Basic Financial Statement
  3. Simple Analysis of Financial Statements

H. Basic Interpretation and Analysis of Financial Statements

  • Perform basic interpretation and analysis of the financial condition and operating result of the business based on the financial statements produced

I. The Accounting Process – Exercises and Practical Application (Excel Based)

  1. Transaction Analysis
  2. Journalizing
  3. Posting to T-Accounts
  4. General Ledger & Subsidiary Ledgers
  5. Adjusting Entries
  6. Preparing trial balance and financial statements

TARGET AUDIENCE

This course is highly recommended for individuals without accounting background who need to learn basic accounting in order to understand and appreciate how business transactions are recorded, summarized and interpreted for business decision-making purposes:

  1. Entrepreneurs
  2. Executives, Middle managers
  3. Project and Product Managers
  4. Business owners
  5. Self-employed, Sales agents
  6. Business students
  7. Product Managers
  8. Faculty Members and Students

OUR PARTNER’S PROFILE

  • Certified Public Accountant (CPA), PRC
  • MBA with high distinction award, PSBA
  • Accounting Services Consultant for companies in the Agricultural, Distribution, Retail, Construction, Electrical, Business Process Outsource, Information Technology, and Software Development Industries
  • Accounting Professor, PSBA
  • Former Accounting Services Head of Easy Bio Systems (Phils.)
  • Former Accounting Professor of National University, Treston International College

UPCOMING PUBLIC TRAINING SCHEDULE

Please view here.

For inquiries on registration, course content, course customization, and on-site training, please click here.