About Workshop
Essential Concepts and Efficient use of Spreadsheets
Accounting in books is significantly different from accounting in practice. To some extent practical accounting is easier than theoretical accounting. All what you need to be successful in accounting profession is to have strong fundamental concepts of different areas of accounting, control over spreadsheets and accounting packages.
This course is designed to bolster your existing knowledge of financial accounting, integrate that with professional experiences, spreadsheets and accounting packages.
Review the key concepts of financial accounting;
Develop practical skills on recording and reporting financial transactions;
Understand Accounting Information Systems and use Accounting Software;
Gain practical skills on Microsoft Excel for Accounts Management and gain essential skills of Sage Simply Accounting.
Workshop topics to be covered:
DAY 01
Session 1: Getting Introduced to Double Entry Systems
Key concepts of financial accounting
Understanding Debit and Credit Mechanisms and Getting Rid of Misconceptions
Journalizing in practical way
Developing spreadsheet models to store and classify all debit credit accounts.
Session 2: General Ledger Maintenance and Accounts Management using Excel
Understand the overall accounting process
Developing Chart of Accounts
Creating and Updating Ledger Accounts
Developing Spreadsheet Models for Accounts Management
Session 3: Using Accounts Balances for Regular and Periodic Financial Reporting using Excel
Preparing Trial Balance Manually and Automatically from Spreadsheet Models;
Prepare Profit and Loss/ Income Statement (Regular and Periodic);
Prepare Cash Flow Statement (Regular and Periodic);
Prepare Balance Sheet (Regular and Periodic)
Session 4
Review of Essential spreadsheet skills
Practical Works
DAY 02
Session 1: Understanding AIS and Getting Introduced to Sage Simply Accounting
Know how an Accounting Information System works;
Know how to Develop a Customized Accounting Information System for your Organisation
Understand server and client Installation process of Sage Simply Accounting
Understand Menus, Modules and Process of Sage Accounting Systems
Session 2: Set-up your Company’s Accounting Information System
Understand company settings
Design receivables management process
Design Payables Management process
Design Inventory and Payroll System
Session 3: Regular Accounting Operations
Using general journal module to record transactions
Use purchase quotes, orders, invoices and purchase receipts
Use Sales quotes, orders, invoice and sales receipts
Adjustments and Corrections
Session 4: Financial and Managerial Reporting
Prepare financial statements – income statement, balance sheet and cash flow statement
Prepare Management reports on customer, inventory, receivables and payables
Prepare graphical reports and analysis
Use Sage outputs in Excel
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