Introduction to Basic Bookkeeping
Durban North: 16-17 October 2017
Single: R6,200.00 (R7,068.00 incl. VAT)
In-House Training sessions: available on request – send an e-mail with specifications to firstname.lastname@example.org
The understanding of bookkeeping is a must in our modern business world. This introductory workshop will assist delegates to understand the fundamentals of tax and business reports resulting from bookkeeping data.
This practical in-depth workshop will give delegates an understanding of the nature and functions of bookkeeping, it will provide information and understanding of the bank reconciliation statement, reconciling the debtors listing with the debtors control account and reconciling the creditors listing with the creditors control account and the effect of transactions on the accounting equation.
This workshop is NQF aligned: Unit Standard: 13015
The skills and knowledge that delegates will gain through this course will familiarise them with the following:
- Understand the nature and function of bookkeeping
- Understand the effect of transactions on the accounting equation
- Understand basic VAT and apply it in practical situations
- Process accounting data in subsidiary journals and ledgers
- The petty cash book
- Control accounts
- Reconciliation of bank accounts
- Trial Balance
- Annual financial statements
Understand the difference between the perpetual inventory system and the periodic inventory system
Calculate the closing inventory when the FIFO, weighted average or retail method is used.
COURSE OUTLINE AND CONTENT
The course will cover the following bookkeeping terms and key concepts:
- Double Entry System
- Main Accounting Terms
- Accounting Equation
- Advantages of Double Entry System.
- Journal Entries
- Rules Regarding Debit and Credit Entry
- Trial Balance
- Methods of Preparing Trial Balance
- Objectives of preparing Trial Balance
- Limitations of Trial Balance
- Cash Book
- Types of Cash Book
- Simple Cash Book
- Petty Cash Book.
- Imprest System of Petty Cash Book.
- Advantages of Petty Cash Book
- Bank Reconciliation Statement
- Causes for difference in the Cash Book Balance
- Need and importance of Bank Reconciliation Statement
- Procedure for preparation of Bank Reconciliation Statement.
- Single Entry System
- Ascertainment of Profit under single entry system
- Defects of single entry system
- Ascertainment of Profit under double entry system
- Final Accounts
- Trading Account
- Profit and Loss Account
- Balance sheet