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Key details

Mode of delivery: Online Course

Course code: AFB102AXO

Duration: 3 days

Fee: £1,796.00 + VAT

CPD Hours: 18

Course Overview

This training workshop demonstrates:

How accounting is the system of recording financial transactions.
The profit and loss (P&L) statement, which summarises the revenues, costs, and expenses incurred during a specified period.

By attending this training workshop, you will understand the purpose of the balance sheet, which is to show the financial status of an organization at a specific point in time.

Agenda

Accounting Basics

Accounting concepts
Steps in the accounting cycle
The objectives of financial reporting
Financial reporting standards

The Profit and Loss Statement

Measurement of income
Types of costs and expenses
The many levels of profit
Opex and capex

The Balance Sheet

Constituents of the balance sheet
The fundamental accounting equation
Importance of working capital
Exercise – prepare a set of accounts

Target Audience

This training workshop is suitable for:

New accounting staff who need to understand the financial accounting function holistically.
Accountancy staff with no formal qualifications.

Learning Outcomes

Upon completion of this training workshop, you will understand:

The links between accounting principles and the preparation of financial statements.
Definitions of the content and functions of the two key financial statements.
How to prepare a set of financial statements from scratch.