Accounting and Payroll Diploma
Gain the skills and confidence you need to manage accounting & bookkeeping fundamentals. This program will provide you the core foundations of becoming a professional in the world of accounting.
Learn the foundation overview of Financial Accounting. Core Concepts taught include: accounting basics, forms of business organization, GAAP, financial statements preparation & analyze transactions using the accounting equation.
Core Concepts taught include: Describing Assets, Liability & Owner’s equity accounts; analyze transactions using double-entry accounts; trial balance preparation; recording transactions; the accounting cycle.
In this unit, some of the core concepts that will be taught include: timeliness, matching & recognition GAAP require the recording of adjusting entries, explain the use and prepare the adjusting entries for prepaid expenses.
Understand the different challenges related to the different financial statements; explain & prepare a classified balance sheet; purpose and content of the auditor’s report; manager’s responsibilities for financial statements.
Understand the fundamental principles of merchandising; and explain the financial component of sales; analyze and record the purchase transaction for a merchandizer etc.
Learn the fundamentals of COGS, FIFO, Weighted Average; Explain the impact of financial statements of inventory flows and errors; Explain and calculate lower of cost and net resizable value of inventory adjustments.
Define Internal Control and how it applies to cash; explain and Journalize petty cash transactions; explain the purpose and prepare a bank reconciliation, and record related adjustments; explain and record short-term notes receivables.
Describe how the cost, property, plant & equipment is determined; explain, calculate, and record depreciation using the units-of-production; straight-line and double declining balance methods; explain, calculate, and record depreciation.
Identify & explain the difference between current and non-current liabilities; Record & Disclose known current liabilities; Record & Disclose estimated current liabilities; explain, calculate & record non-current debt.
Describe the nature of bonds and the rights of bondholders; Describe how bonds, premiums and discounts are recorded in the accounting records and disclosed on statements of financial possibilities.
Identify & explain characteristics of the corporate form of the organization & classes of shares; Evaluate relative financing effects of bonds, common shares, and preferred shares etc.
Explain the purpose of statement of cash flows; Prepare a statement of cash flows; Interpret a statement of cash flows.
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