Certificate Course on Practical Accounting

Introduction

For Accountants/Finance Executives and Managers

Course Description
Accounting in books is significantly different from accounting in practice. To some extent, practical accounting is easier than theoretical accounting. All that you need to be successful in the accounting profession is to have strong fundamental concepts of different areas of accounting, control over spreadsheets, and accounting packages. This course is designed to bolster your existing knowledge of accounting, integrate that with professional experiences and technologies.

At the end of the course, you will be a confident, skillful, and tech-savvy accounting professional.

Learning Outcomes:
1. Refresh and redevelop key accounting theories and practices
2. Develop practical skills required for Accounts Management profession
3. Develop practical skills required for Cost Accounting profession
4. Know how to integrate spreadsheet and accounting packages to improve productivity

Methodology

PowerPoint Presentation, Microsoft Excel

Contents of Training:

Session 1: Getting Introduced to Double Entry Systems
 Key concepts of accounting
 Understanding Debit and Credit Mechanisms and Getting Rid of Misconceptions
 Journalizing in a practical way
 Developing spreadsheet models to store and classify all debit credit accounts.

Session 2: General Ledger Maintenance and Accounts Management
 Understand the overall accounting process
 Developing Chart of Accounts
 Creating and Updating Ledger Accounts
 Developing Spreadsheet Models for Accounts Management

Session 3: Using Accounts Balances for Regular and Periodic Financial Reporting
 Preparing Trial Balance Manually and Automatically from Spreadsheet Models;
 Prepare Profit and Loss/ Income Statement (Regular and Periodic);
 Prepare Cash Flow Statement (Regular and Periodic);
 Prepare Balance Sheet (Regular and Periodic);

Session 4: Internal Auditing, Adjustments and Corrections
 Know how to audit accounts for finding scopes for Adjustment and Corrections;
 Adjustment in Practical Accounting;
 Correction in Practical Accounting;
 Prepare Adjusted and Corrected Financial Statements (Automatic and Manual)

Session 5: (Reconciliation, VAT Treatment, Correction & Adjustment)  Bank Reconciliation, Correction and Adjustment
 Receivable management and reconciliation
 Payable management and reconciliation
 Concepts of Control accounts

Session: 6 (Payroll & Inventory Management, Input-Output Vat, VDS &TDS Calculation)
 Processing payroll transactions into the accounting system
 Payroll Processing
 Wages control account management
 TDS & AIT calculation and practical approach
 Calculation of Input & Output Vat

Session 7: Practical Cost Accounting
 Develop Key Concepts of Cost Accounting;
 Practical Methods of Costing your Products and Services;
 Conduct Break-even Analysis and Report to Top Level Management;  Data Modeling & Dashboard Making;  
 Practical Approaches to Budgeting.


Session 8: Efficient use of Spreadsheets and Accounting Software Packages
 Get introduced to Programming for Accounts Management in Excel;
 Get introduced to Standard Accounting Packages;
 Know how to develop an Accounting Information System;
 Steps toward strategic issues and top-level Accounting

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