Finance and Accounting Seminars

Preparing Financial Statements

The objective:

  • The accounting cycle and why it is important.
  • Understanding how to read and interpret a company’s financial statements.
  • Understanding the designing chart of account.
  • Adjusting Entries.
  • Financial statements and their elements.
  • Techniques to analyse the financial statements and understand their issues.

The Content:

The accounting cycle:

  • Analyze and measure transactions.
  • Record transactions in the journal.
  • Post information from the journal to the ledger.
  • Prepare an unadjusted trial balance.
  • Preparing adjusting entries.
  • Prepare an adjusted trial balance.
  • Prepare financial statements.
  • Prepare closing entries.
  • Prepare a post-closing trial balance.

Designing chart of accounts:

  • The chart of accounts design
  • Chart account examples.
  • The 5 major accounts in accounting.
  • The order of account categories on the chart of accounts.
  • The standard chart of accounts.
  • Creating a chart of accounts in SAP.
  • What does the chart of accounts structure set?

Performing Accounting Adjustment Entries:

  • What are accounting adjustments?
  • Classes and Types of Adjusting Entries
  • The 5 types of adjusting entries.
  • What is adjusting entries in accounting? with example.
  • the 4 types of adjusting entries.
  • The two basic categories of adjusting entries.
  • The easiest way to understand adjusting entries.

Preparing Financial Statements:

  • Introduction to Financial Statement Preparation.
  • The order of preparation for financial statements.
  • The 4 financial statements.
  • Constructing a Balance Sheet.
  • Constructing an Income Statement.
  • Constructing a Cash Flow Statement.
  • Statement of retained earnings.
  • Issues in financial statements.

Reviewing and understanding financial statements notes:

  • Understanding Financial Statements
  • Verifying financial statements.
  • Analyzing a balance sheet.
  • Reviewing financial statements.
  • Financial statement review checklist.

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