General Accounting - Crash Course

After this course, you will have acquired a good understanding of how accountancy works and the purpose of the end of year operations, having partially analysed the following by means of practical exercises:

• The various balance sheet items and headings and their relevance to the proper management of the company
• The various types of accounts and their operating rules (debit/credit)
• The accounting system over the accounting year (opening balance sheet, account movements, results, closing balance sheet)
• Accounting documents (journal, balance)
• Principles of year-end entries

• Balance Sheet: items and utility
• BASIS FOR STUDYING AN ACCOUNTING SYSTEM
  • The various balance sheet items and headings. Their relevance to the proper management of the company. Practical exercise carried out in conjunction with a few day to day transactions and their implications on the development of the balance sheet
• STUDY OF AN ACCOUNTING SYSTEM
  • The various types of accounts in general accounting (balance sheet and income statement accounts) and their operating rules (debit/credit) the accounting system over the course of the accounting year
    • from the opening balance sheet to the accounts
    • account movements
    • determining the result
    • from the accounts to the closing balance sheet
  • Other accounting documents
    • the journal and how to use it for research
    • the balance and how to use it for checking
  • Practical applications of the accounting system
• PRINCIPLES OF YEAR-END ENTRIES
  • Objectives of year-end entries
  • Amortisation
  • Provisions (provision for depreciation and provision for risk)
  • Adjustment of income and charges (including accrued but not due interest)
  • The explanations in this chapter are based on figured examples. The individual exercises are repeated in the summary exercise
• SUMMARY EXERCISE
  • From the opening balance to the closing balance
  • Ten day to day transactions (including year-end entries)