Fundamentals of Accounting for Administrative and Support Staff
Fundamentals of Accounting for Administrative and Support Staff
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Program Objectives:
By the end of the program, participants will be able to:
- Identify the importance of accounting in running the business.
- Acquire basic accounting knowledge and skills needed to better support management.
- Properly distinguish and classify account categories within the accounting system in the company.
- Accurately account for transactions affecting assets, liabilities and equities.
- Correctly account for transactions affecting revenues and expenses.
- Effectively prepare statements of income and balance sheets.
- Perform hands-on bank reconciliation, account analysis, and General Ledger (GL) to sub-ledger reconciliation
Who should attend:
Administrative and support employees who work closely with accounts or support management with tasks related to bookkeeping and financial reports. This program is also helpful for non-accounting professionals, such as HR, IT and Admin, who provide support to accounting systems and staff.
Program Outline
Importance of Accounting in Business
- The Role and Purpose of Accounting
- The Accounting System
- The Fundamental Accounting Equation
The Accounting Principles
- Accrual versus Cash Basis Accounting
- Matching Principle and Revenue Recognition
Accounting Cycle
- Steps of the Accounting Cycle:
- Analyzing Transactions
- Recording Transactions
- Preparing Trial Balance
- Recording Adjusting Entries
- Recording Closing Entries
- Preparing Financial Statements
- Preparing Post-Closing Trial Balance
Analyzing and Recording Transactions
- Using Accounts to Summarize Transactions
- The Rules of Debits and Credits
- Preparing Trial Balance (TB)
Accounting for Assets
- Cash and Bank Accounts
- Accounts and Notes Receivable and Allowance for Doubtful Debts
- Inventory and Cost of Sale
- Fixed Assets and Intangible Assets
Accounting for Liabilities and Equity
- Current Liabilities and Long-Term Liabilities
- Contributed Capital and Retained Earnings
Adjusting Entries
- Adjusting for Accruals
- Adjusting for Deferrals
Preparing Financial Statements
- The Income Statement
- Statement of Owners’ Equity
- The Balance Sheet
Hands-On Workshops
- Performing Bank Reconciliation
- Performing Account Analysis
- Course Review Material
