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Accounting for Non Accountants

One Day


Aim

To present basic management and financial accounting techniques in a simple and practical manner. Designed for people with a limited accounting knowledge who want to gain an understanding in financial accounting techniques and the tools used.


Content

• Debits and credits and double entry

• The accounting equation

• Assets, Liabilities and Proprietorship

• Profit, revenue, expenses and income

• Return on investment

• Journal entries, ledgers and trial balance

• Cost of goods sold

• Gross profit

• The basic accounting cycle

• Balance Sheets, Profit and Loss Accounts

• Prepare simple Income Statements and Balance Sheets from accounting data

• Understand cash and accrual accounting

• The difference between a capital item and an expense.

• End of period adjustments including accruals, prepayments and depreciation

• Budgets and cashflow statements

• An introduction to GST, PAYE and other taxes

• Breakeven point