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Basic Accounting

Course Description

UTAP Funding
Funding available for this course

Accounting is the recording of financial transactions such as profits, losses, credits and debits plus storing, sorting, retrieving, summarizing and presenting the information in various reports and analyses. Regardless of which job title you fall into, the truth is all employees should learn the basic principles of accounting and develop a knack for managing the financial aspects of a business. It is important for all people, not just accountants or business owners, to have a basic understanding of accounting.

Course Objective:

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

  • Understand basic accounting terminology.
  • Identify the differences between the cash and accrual accounting methods.
  • Keep track of your business by becoming familiar with accounts payable and accounts receivable.
  • Use a journal and general ledger to document business financials.
  • Utilize the balance sheet.
  • Identify different types of financial statements.

Target Audience:

For any individual who do not have any background knowledge of accounting and wish to learn the basics of accounting concepts which is an important advantage of any job role.

Course Content

Module One: Getting Started

  • What is accounting

Module Two: Basic Terminology

  • Balance Sheet
  • Assets
  • Liabilities
  • Equity
  • Income Statement
  • Revenue
  • Cost of Goods Sold
  • Expenses
  • Accounting Period

Module Three: Basic Terminology

  • Accounts Receivable
  • Accounts Payable
  • Depreciation
  • General Ledger
  • Interest
  • Inventory
  • Journals
  • Payroll
  • Trial Balance

Module Four: Accounting Methods

  • Cash Method
  • Accrual Method
  • Differences between Cash and Accrual

Module Five: Keeping Track of Your Business

  • Accounts Payable
  • Accounts Receivable
  • The Journal
  • The General Ledger
  • Cash Management

Module Six: Understanding the Balance Sheet

  • The Accounting Equation
  • Double-Entry Accounting
  • Types of Assets
  • Types of Liabilities
  • Equity

Module Seven: Other Financial Statements

  • Income Statement
  • Cash Flow Statement
  • Capital Statement
  • Budget vs. Actual

Module Eight: End of Period Procedures

  • Depreciating Your Assets
  • Reconciling Cash
  • Reconciling Investments
  • Working with the Trial Balance
  • Bad Debt
  • Posting Adjustments and Corrections

Course Duration

2 Days

Course Time

9am to 5pm

Course Fee


(Group Discount of 10% for 3 or more participants)

Course Dates