Introduction to Bookkeeping Course, FA1 syllabus - Study ACCA online - ACCA-XThe Introduction to Bookkeeping and Financial Accounting programme introduces fundamental accounting principles and the concept of double entry bookkeeping and accounting. The programme is lectured by a highly experienced tutor and will give attendees a solid introduction to this subject area through practical examples and exercises. Full written notes are included. This programme comprises 6 sessions which cannot be booked individually as each session builds on knowledge gained in previous sessions. Anyone new to working in bookkeeping or financial accounting as an excellent basis for understanding and producing financial statements and for those who may have worked in the industry without formal training who wish to consolidate their knowledge and understanding. The programme is designed to provide attendees with a strong grasp of double entry bookkeeping and the ability to produce a simple set of financial statements from a trial balance. Introduction to Bookkeeping and Financial Accounting.
Introduction to Bookkeeping
The Accounting process involves a series of steps which include analyzing, recording, summarizing, reporting, reviewing, and interpreting financial information. Bookkeeping forms the foundation on which the accounting system is built and therefore all bookkeeping information should be complete, accurate and timely. The complexity of a bookkeeping system often depends on the size of the business and the number of transactions that are completed daily, weekly, and monthly. The individuals responsible for the Bookkeeping functions in Accounting are called Bookkeepers. In many organizations, Accountants usually plan and set up the accounting system and hand it over to bookkeepers. Bookeepers then record Financial Transactions on a day to day basis and keep records which are backed up by valid documentation. It is the Bookkeepers job while recording financial information in the accounting system to maintain adherence to accounting principles.
Do you want to manage your business well? Do you want to be a good steward with the money you have? This subject allows managers and students from a non-accounting background to gain a practical understanding of accounting and finance. Complicated problems are explained using a step-by-step approach so that students from all educational backgrounds will grasp even the most difficult accounting and financial concepts. Apply the essential numerical skills required for bookkeeping and accounting; Explain the relationship between the accounting equation and double-entry bookkeeping; Demonstrate an understanding of the importance of recording transactions in the appropriate accounts using the double-entry bookkeeping system; Demonstrate the ability to interpret balance sheets and profit and loss accounts.
Learn about the essential numerical skills required for accounting and bookkeeping. This free course, Introduction to bookkeeping and.
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At Clear Books, we aim to make accounting as simple as possible — so you can spend less time worrying about keeping track of your accounts and more time growing your business. This means that every transaction will be entered into your accounting records twice — once as a debit [ Dr ] entry and once as an equal and opposite credit [ Cr ] entry. Double-entry bookkeeping is preferable to single entry bookkeeping where there is no corresponding opposite transaction as, by entering it twice, there is less chance of making mistakes. An asset is something that you own or an amount that someone a debtor owes you, and an expense is a cost needed to run your business. A liability is something that you owe to somebody a creditor and income is earnings from running your business. But how do you manage and think about debits and credits, if seemingly good things are bad and bad things are good? Recording entries purely from sums in and out of a bank account is known as cash accounting , but this is only allowed for tax purposes in the smallest of self employed businesses.