FINANCIAL ACCOUNTING

Course Overview

Accounting has become an essential part of business life, and the knowledge and skills that you will learn in your studies will give you a broader and more experienced view of business life. This course is suitable for managers, executives with little or no experience in accounting who would like to understand the fundamental principles of financial accounting, and save on accountancy fees in the process!

What we learn

  • Definition of Accounting
  • Objectives and Scope of Accounting
  • Accounting Process Accounting Concepts
  • Classification of Accounts
  • Accounting Systems

FINANCIAL ACCOUNTING

  • Journal
  • Analysis and treatment of transactions
  • Posting in a leader
  • Ruling of Account in ledger Account

Course Outline

Financial statements and business decisions

  • The financial accounting cycle
  • Four or five key financial statements
  • Management uses of financial statements
  • Relationship among financial statements
  • Essential notes and disclosures to the financial statements
  • Basis of preparation
  • Accounting policies
  • Related parties' transactions
  • Contingencies
  • Risk managements
  • Subsequent event
  • Simulation 1: reporting on general information, basis of preparation and significant accounting policies

Income statement

  • Revenue and expense recognition: applying the accrual basis
  • Matching principle between revenues and expenses
  • Other comprehensive income components
  • Earnings per share reporting
  • Simulation 2: mapping accounts and preparing income statement using Excel
  • Simulation 3: creating income statement disclosures

Balance sheet and statement of owners’ equity

  • Minimum presentation requirements of balance sheet accounts
  • Definitions of accounts in the balance sheet
  • Correct presentation for statement of owners' equity
  • Simulation 4: mapping accounts and preparing equity and balance sheet using excel

Cash Flow Statement

  • Exploring the three sections of a cash flow statements
  • Direct versus indirect method of cash flow statement preparation
  • Linking cash flow statements to notes

Accounting adjustments

  • Accruals and unearned revenues
  • Prepayments and deferrals
  • Accounting estimates

KHDA Certificate

Course completion certificate attested by KHDA(Knowledge and Human Development Authority), UAE.

Candidates who want to acquire expertise in FINANCIAL ACCOUNTING should get enrolled themselves