Accounting Fundamentals course:
Title: Accounting Fundamentals
Course Overview: The Accounting Fundamentals course is designed to provide participants with a foundational understanding of accounting principles, concepts, and practices. The course covers essential topics such as financial statements, recording transactions, analyzing financial data, and interpreting accounting information. Participants will gain practical knowledge through real-world examples, case studies, and hands-on exercises.
Course Duration: 8 weeks (2 hours per session, 3 sessions per week)
Prerequisites:
No prior accounting knowledge required
Basic math and numerical skills are beneficial
Course Outline:
Introduction to Accounting
Definition and scope of accounting
Importance of accounting in business
Overview of financial statements (balance sheet, income statement, cash flow statement)
Accounting Equation and Double-Entry Bookkeeping
Understanding the accounting equation (assets = liabilities + equity)
Principles of double-entry bookkeeping
Debits and credits in accounting transactions
Recording Transactions
Journal entries and the general ledger
Posting transactions to accounts
Trial balance and the accounting cycle
Financial Statements
Preparation of balance sheets
Income statement analysis (revenue, expenses, net income)
Cash flow statement overview (operating, investing, financing activities)
Financial Ratios and Analysis
Liquidity ratios (current ratio, quick ratio)
Profitability ratios (gross profit margin, net profit margin)
Solvency ratios (debt-to-equity ratio, interest coverage ratio)
Inventory Valuation and Costing Methods
Inventory valuation methods (FIFO, LIFO, weighted average)
Cost of goods sold (COGS) calculation
Inventory turnover and management
Depreciation and Amortization
Depreciation methods (straight-line, double-declining balance, units-of-production)
Amortization of intangible assets
Impairment of assets
Budgeting and Forecasting
Budgeting process and components
Variance analysis and budget control
Cash flow forecasting techniques
Financial Reporting and Compliance
GAAP (Generally Accepted Accounting Principles) and financial reporting standards
Internal controls and audit trails
Regulatory compliance (e.g., SOX compliance)
Introduction to Managerial Accounting
Managerial vs. financial accounting.
Cost behavior and cost-volume-profit analysis
Decision-making tools (break-even analysis, contribution margin)
Taxation Basics
Overview of corporate and individual taxes
Tax deductions and credits
Tax planning strategies
Ethical Considerations in Accounting
Professional ethics in accounting
Ethical dilemmas and decision-making
Code of conduct for accountants
Assessment and Certification:
Regular quizzes and assignments
Accounting projects and case studies
Final exam covering course topics
Certificate of completion for the Accounting Fundamentals course.
Instructor: Experienced accounting professionals and educators will lead the course, providing practical insights and guidance to participants.
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