Financial Accounting Essentials
London Business Training & Consulting
Key Information
Campus location
London, United Kingdom
Languages
English
Study format
On-Campus
Duration
1 week
Pace
Full time
Tuition fees
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Application deadline
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Earliest start date
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Introduction
This course 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 course, 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.
The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.
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
The Role of Financial Accounting in Decision-Making
Key aspects of making a decision
Limitations on the use of ratios
The end of accounting?
Course Review
Summary and recap of key learning objectives
Action Planning
Target Audience
This course 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 course, 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.
- How to implement an Action Plan at your workplace using the knowledge and skills acquired through the course.