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Duration:
One day
Description:
This training program is designed to help you acquaint others with the
accounting cycle. In this course, participants will learn the eleven-step
accounting cycle, how to use recordkeeping systems, key accounting
vocabulary, the differences between cash and accrual accounting, and
accounting decision making.
Table Of Contents:
INTRODUCTION
Welcome and Introductions
Learning Objectives and Agenda
MODULE 1: Overview of Accounting
Introduction
Business Decisions
The Accounting Cycle
Cash or Accrual Accounting
Setting Up the Books
Key Word Recognition
Single-Entry and Double-Entry Recordkeeping
MODULE 2: Ledger and Journal
The Ledger
The "T" Account
Case Study: Ledger Entries
The Trial Balance
Ledger Accounts
The Journal
MODULE 3: Adjusting Entries
General Rules for Adjusting Entries
Adjusting Current and Long-Term Assets
Adjusting Current Liabilities
Adjusting Accrued Expense
Adjusting Accrued Revenue
MODULE 4: Closing Entries
Closing Entries
Temporary and Permanent Accounts
Four Basic Entries to Closing Accounts
Closing Entries Exercise
Self-Test: Closing Accounts
Self-Test: Closing/Post-Closing Trial Balance
MODULE 5: The Balance Sheet and Income Statement
Preparation of the Financial Statements
The Balance Sheet
The Income Statement
Review Financial Statements
Case Study: Financial Statements
Special Considerations: The Merchandise Company
CONCLUSION
Learning Objectives Review
Course Evaluation
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