Accounting basics

  Duration: 3h

• Definition and purpose of accounting
• Financial accounting, management accounting and tax accounting
• Accounting vs. financial management
• Generally accepted accounting principles (GAAP) 
• The concepts and expected qualities of accounting information
• International Financial Reporting Standards (IFRS) 
• Accrual versus cash basis of accounting
• Accounting equation
• Accounting convention (Debit/Credit concept)
• Financial statements (balance sheet, income statement, cash flow statement)
• Assets / Liabilities / Equity 
• Revenues / Expenses
• Difference between accounts receivable and revenues
• Chart of accounts and numbering
• General ledger 
• Different journals (General Journal, Purchases Journal, Disbursements Journal, Sales Journal, Receipts Journal)
• Journal entries 
• Trial balance
• Financial ratios
• Tax application principles
• Tax calculations
• Cycle from invoice posting to payment
• Bad debts
• Bookkeeping
• Bank reconciliation
• Amortization
• Etc.