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The Principles of Financial Accounting

Course overview

It is vital that all people in an accounts department understand the debit and credit convention of accounting.

This course is a comprehensive guide to the principles of producing a set of financial accounts. It begins by clearly explaining the debit and credit convention, using a unique learning technique and demonstrating how to carefully analyze a transaction and decide how it should be recorded. The update of the nominal ledger and production of a trial balance is then carefully explained, before illustrating how the trial balance is used to produce a Profit and Loss Statement and Balance Sheet. This will give attendees complete clarity of how a set of accounts are produced and where the information comes from.

The understanding gained on this course will enable accounts, people, to approach their job in a more informed way, which in turn will improve the accuracy and completeness of the financial information they produce for their organization.

Who should attend?

The course will help all accounts of people and is ideal for those who work in:

  • The purchase ledger/accounts payable functions of an accounts department
  • The sales ledger/accounts receivable functions of an accounts department
  • The nominal ledger/general ledger functions of an accounts department
What will you learn?
  • What is the basis of recording financial transactions?
  • Why is it important to know what an asset, liability, expense or income record is?
  • Why do we debit some account records and credit others?
  • What are the rules that must be applied when deciding how to record a transaction?
  • Are accounts payable records the same as creditor records?
  • Are accounts receivable records the same as debtor records?
  • What is the purpose of the Nominal Ledger?
  • Is the Nominal Ledger the same as General Ledger?
  • What is the purpose of a Trial Balance and why is it so important?
  • How do you produce a Profit and Loss Statement?
  • How do you produce a Balance Sheet?
Extra benefits
  • A course pack containing the information presented on the day.
  • A certificate of attendance.
  • Complimentary refreshments and snacks provided.
Training Details
  • Training Days: 5 days.
  • Training Timing: 4:00 PM-9:00 PM.
  • Training Language: 50% English 50% Arabic.
  • Material Language: English.
  • Training Venue: Fully equipped training facility in a hotel.
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