In this 5-day course, you will learn the foundations of financial accounting information. The course will include an analysis of accounting for short-term assets and will go into detail on how firms account for accounts receivables and inventories. The course activities guide you through the three most commonly used financial statements: the Balance Sheet, the Income Statement, and the Statement of Cash Flows. Beyond recording transactions, you'll learn how to prepare these financial statements, and read and analyse them to draw basic conclusions about a company's financial health.
Additionally, by the end of course you will be able to use journal entries to record transactions; prepare and use t-accounts to summarize transactions recorded during an accounting period; describe the three most commonly used financial statements and how they fit together.
Outline the format of the cash flow statement
Explain the difference between profit and cash
Prepare a simple cash flow statement using the balance sheet and income statement
Explain the format of the income statement and balance sheet
Define various financial statement terms (e.g. accounts receivable, prepayments, etc.)
Record financial statement transactions (e.g. invoicing, raising equity, buying inventory, etc.)
Prepare a simple income statement and balance sheet
Who should attend?
This course is suitable for anyone who needs to improve and master their accounting skills.
Module 1 Accounting in Action
Overview of Accounting course
The Role and Purpose of Accounting
The Accounting System
The Fundamental Accounting Equation
Journal entries and Summary of Accounting recording
Module 2 Accounting and Adjusting entries
Accrual versus Cash Basis Accounting
Matching Principle and Revenue Recognition
Recording Adjusting Entries
Recording Closing Entries
Preparing Financial Statements
Preparing Post-Closing Trial Balance
Module 3 Accounting for Merchandising Operations
Recording Purchases of Merchandise.
Recording Sales of Merchandise.
Completing the Accounting Cycle.
Forms of Financial Statements.
Module 4 Accounting for Inventories
Inventory and Cost of Sale
Performing Inventory Analysis
Inventory for wholesales
Applying the Best Method of Inventories
Accounting for merchandise operation
Module 5 Financial Statement Analysis
Actions of International Financial Reporting Standards (IFRS)
Overview of financial statements
Horizontal statements Analysis
Vertical statements Analysis
Evaluate profitability through the Rations
Evaluation of Financial Statement based on accounting rations
Module 6 Advanced Financial Reporting
Business investment and Partnership
Hoteling for Investment
Business merger’s assets and liabilities
Module 7 Financial Statements Preparation
Accounting Receivable and Accounting Payable
Balance Sheet, Income Statement, Change Equity and Cash flow
Inventories and methods
Module 8 Accounting by Excel and QuickBox
Practical example based on 6 Excel databases
Sarhad Hamza completed post-graduate studies at the Business school at Macquarie University in Sydney-Australia and a PhD degree at the School of Economic Sciences at the University of Warsaw- Central Europe-Poland. Following graduation, he worked as an accountant and HR manager in a professional corporation before joining the Business Administration Department at the University of Raparin. As a recognized trainer, he worked for a number world training organization centres including Accenture, and IREX. Dr Sarhad is now an official representative of the US institute of IAT to deliver various business development courses in the Middle East including whole Iraq and Kurdistan.
Time and Location
Location: Erbil, mselect.
Duration: 8 days (Monday to Thursday)
Time: 13:30 - 17:00 pm
Must be made 5 working days before the start of the course. Payment can be made in cash, by bank transfer or through exchange offices.
How do I register?
You can register by emailing firstname.lastname@example.org with the following details:
Name of course:
For more information, please call 066 261 4455 or (0) 771 842-2380