Course Overview

This Fundamentals of Accounting course provides participants with a solid foundation in accounting principles, financial statements, bookkeeping, and basic financial analysis. Designed for beginners and professionals needing a refresher, this course covers key concepts such as double-entry accounting, the accounting cycle, financial reporting, and budgeting. Through practical exercises, case studies, and real-world examples, participants will gain the skills needed to understand and apply accounting fundamentals in business environments.

Course Objectives

By the end of this course, participants will be able to:

1. Understand the basic principles and concepts of accounting.
2. Apply double-entry bookkeeping and the accounting equation.
3. Prepare and interpret key financial statements (Income Statement, Balance Sheet, Cash Flow Statement).
4. Record transactions and complete the accounting cycle.
5. Perform basic financial analysis and budgeting.
6. Use accounting software for basic bookkeeping (optional, if included).

Who Should Attend?

• Aspiring accountants & finance professionals
• Small business owners & entrepreneurs
• Managers & supervisors needing financial literacy
• Non-finance professionals handling budgets
• Students & career changers entering finance roles

Course Outline 

Module 1: Basics of Accounting

• Definition, purpose, and importance of accounting
• Key accounting principles (GAAP, Accrual vs. Cash Basis)
• Types of accounting (Financial, Managerial, Tax)

Module 2: The Accounting Equation & Double-Entry System

• Assets, Liabilities, and Owner’s Equity
• Debits and Credits (T-Accounts, Journal Entries)
• Practical exercises in recording transactions

Module 3: Recording Transactions

• Source documents (Invoices, Receipts, Bills)
• Journal entries and the General Ledger
• Hands-on practice: Posting transactions

Module 4: Adjusting Entries & Trial Balance

• Prepayments, Accruals, Depreciation
• Preparing an adjusted trial balance
• Common errors and corrections

Module 5: Income Statement (Profit & Loss)

• Revenue, Expenses, and Net Income
• Structure and interpretation

Module 6: Balance Sheet & Cash Flow Statement

• Assets, Liabilities, and Equity breakdown
• Operating, Investing, and Financing Activities
• Practical exercise: Preparing financial statements

Module 7: Basic Financial Ratios & Analysis

• Liquidity, Profitability, and Solvency Ratios
• Trend analysis and benchmarking

Module 8: Introduction to Budgeting & Cost Control

• Types of budgets (Operating, Capital, Cash Flow)
• Variance analysis and cost management

Module 9: Accounting Software Demo (QuickBooks/Excel)

• Basic bookkeeping in accounting software
• Generating reports

Module 10: Case Studies & Final Review

• Real-world business scenarios
• Group exercises & Q&A
• Course summary and certification