ACC 004 – Accounting For Non-Accounting Staff

• What is accounting?
• Accounting Process
• Role in today’s business
• The accounting Equation
• Transaction Analysis

• The trading account
• The Profit & Loss Account
• The Balance Sheet

Adjustments at Financial Year End

• Cash versus Accrual Accounting
• Matching Principle
• Accrued Expenses
• Prepayments
• Unearned Revenue
• Bad Debts & Provision for doubtful Debts
• Impact on Financial Statements

• Historical Cost Concept
• Depreciation- Calculation & Recording
• Gain or Loss on Sale
• Impact on Financial Statements

• The trading account
• The Profit & Loss Account
• The Balance Sheet
• Exercise on preparation of Financial Statements with Adjustments.