ACCOUNTING INTRODUCTION
- Detailed examination of manual and computerized accounting systems.
- Comparative analysis of various accounting methodologies and their applicability.
- Techniques for maintaining the accuracy and reliability of financial data.
- Role of ethical practices in upholding the integrity of accounting records.
THE HOLISTIC ACCOUNTING CYCLE
- Detailed walkthrough of each phase in the accounting cycle for comprehensive understanding.
- Deep dive into the function of the general ledger and subsidiary ledgers in financial recording.
- Deep dive into the function of the general ledger and subsidiary ledgers in financial recording.
- Exploration of various types of accounts including assets, liabilities, equity, revenues, and expenses.
- Advanced understanding of the dual-entry system and its application in different financial scenarios.
- Examination of the journalizing process and its significance in the accounting cycle.
- Techniques for efficient and accurate posting of transactions to ledger accounts.
- Strategies for trial balance preparation and error detection in the accounting cycle.
ACCOUNTS RECEIVABLES
- In-depth look at the different types of receivables and their impact on business finances.
- Techniques for effective management of short-term receivables.
- Strategies for dealing with receivables over extended periods.
- Methods for assessing the realizable value of receivables in financial reporting.
- Understanding promissory notes and their treatment in accounting.
- Employing financial information related to receivables for strategic decision making.
- Ensuring ethical handling, preventing fraud, and maintaining governance over receivables.
THE ACCRUALS AND DEFERRALS
- Mastery of adjusting entries for accruals and deferrals to reflect true financial status.
- Ensuring that adjustments adhere strictly to recognized accounting principles.
- Steps to compile an adjusted trial balance and its importance in the financial reporting process.
REPORTING FINANCIAL RESULTS
- Guidelines for creating accurate and detailed accounts receivable reports.
- Utilizing ratio analysis to understand the relationship among different financial statements.
- Methodology for closing temporary accounts as part of the year-end accounting process.
- Step-by-step summary of the closing process, ensuring complete and accurate financial reporting.
CONTROL OVER RECEIVABLES
- Identifying and applying industry best practices for managing and collecting receivables.
- Developing and enforcing policies to maintain control over receivables.
- Techniques for assessing the effectiveness of internal control systems in managing receivables.
