Bookkeeping: (Record-Keeping, Preparing & Interpretation of Financial Statements, Income Tax & VAT)

Price excluding Tablet will be N$6 500.00

Note: Including a Tablet the price will be N$8 500.00

Course objectives:

• Participants will be able to draw up financial statements of a trading business.
• Enable participants read, understand and correctly interpret financial information needed for their decision-making.
• Enable participants appreciate the role financial reports in accountability

Who should attend?

Business owners, general managers, departmental managers, accountants who have received no formal training and all those seeking to acquire skills in Book keeping and financial management.

Outline

Nature and purpose of accounting

• Users of accounting information
• Accounting and the non-accountant

Accounting equation & Balance sheet

• The nature of a business: assets and liabilities
• The balance sheet
• The accounting equation

Ledger accounts and double entry

• Double entry and bookkeeping
• Double entry for Assets, capital, Liabilities, expenses and income

Trial Balance

• Balancing off accounts
• Extraction of trial balance

Recording accounting transactions

• Source documents
• Books of original entry
• Sales day book
• Returns inward/outward day books
• General journal
• Recording and accounting for cash transactions – petty cash & cashbook
• Posting from books of prime entry to ledger accounts

Accounting for adjustments

• Accruals and prepayments
• Bad debts and provision for bad debts
• Depreciation

Financial statements

• Manufacturing statement
• Income statement
• Balance sheet
• Cash flow statement
• Differences between statements of a company and sole trader.

Accounting concepts & principles

• This section deals with accounting concepts and principles used as a basis in the preparation of financial statements

Bank reconciliation

• What is bank reconciliation?
• Why is bank reconciliation necessary?
• Preparation of bank reconciliation

Interpretation of financial statements

• Analysis of financial statements: the use of ratios, vertical and horizontal comparison,
• Working capital management- the cash operating cycle