DOING ACCOUNTING AND BOOKKEEPING

This course is designed for individuals interested in gaining a comprehensive understanding of accounting and bookkeeping principles, practices, and procedures. It is tailored for:

• Small business owners and entrepreneurs seeking to manage their financial records effectively.
• Aspiring accountants or bookkeepers looking to build a solid foundation in the field.
• Professionals in finance, management, or related fields who need to enhance their accounting and bookkeeping knowledge.
• Students pursuing degrees or certifications in accounting, finance, or business administration.
• Anyone interested in developing essential skills for maintaining accurate financial records, tracking expenses, and complying with tax regulations.

ABOUT COURSE

Module 1 ACCOUNTING ESSENTIALS: THE BUILDING BLOCKS OF FINANCIAL MANAGEMENT

This module introduces the fundamental concepts of accounting, including the accounting equation, double-entry bookkeeping, and the importance of maintaining accurate financial records. It explores various types of accounting, such as financial accounting, managerial accounting, tax accounting, cost accounting, and auditing.

What Will You Learn:

• Understand the basics of accounting and its role in business
• Learn about the different types of accounting and their specific purposes
• Grasp the importance of the chart of accounts and making sense of financial statements
• Appreciate the significance of internal controls and accounting procedures

Module 2 FINANCIAL CONTROL AND COMPLIANCE: MASTERING INVENTORY, EXPENSES, AND ETHICAL PRACTICES

This module delves into the critical aspects of inventory management, sales tracking, expense control, and maintaining ethical accounting practices. It highlights the importance of accurate record-keeping and the consequences of illegal accounting practices.

What Will You Learn:

• Implement effective inventory management systems
• Track sales transactions meticulously
• Identify and categorize expenses for better control
• Recognize and avoid illegal accounting practices
• Understand the importance of internal controls and segregation of duties

Module 3 THE ART OF FINANCIAL RECORD-KEEPING: MASTERING BOOKKEEPING PRINCIPLES

This module introduces the fundamental concepts and practices of bookkeeping, emphasizing its role in maintaining accurate financial records and facilitating informed decision-making.

What Will You Learn:

• Understand the essence of bookkeeping and recording financial transactions
• Learn about the bookkeeping cycle and its key steps
• Distinguish the roles of bookkeepers and accountants
• Explore technological advancements in bookkeeping, such as accounting software and cloud-based platforms

Module 4 MASTERING THE FUNDAMENTALS: THE PATHWAY TO ACCURATE FINANCIAL RECORD-KEEPING

This module delves into the principles, best practices, and standards that ensure accurate, complete, and transparent financial records through proper bookkeeping.

What Will You Learn:

• Appreciate the importance of proper bookkeeping
• Understand the principles of timeliness, accuracy, completeness, transparency, and consistency
• Implement best practices for maintaining a chart of accounts, internal controls, and reconciliations
• Leverage technology in bookkeeping while adhering to established principles

Module 5 NAVIGATING THE TAX LANDSCAPE: STRATEGIES FOR COMPLIANCE AND OPTIMIZATION

This module focuses on the intricacies of tax management, including understanding tax obligations, tracking tax-related transactions, calculating and remitting taxes, maintaining tax records, and implementing tax planning and compliance strategies.

What Will You Learn:

• Identify and understand various tax obligations
• Track and record tax-related transactions accurately
• Calculate and remit taxes within prescribed deadlines
• Maintain proper tax records and documentation
• Implement tax planning and compliance strategies

Module 6 AUDIT PREPAREDNESS: NAVIGATING THE PATH TO TRANSPARENCY AND COMPLIANCE

This module provides a comprehensive guide to effectively navigating the audit process, including preparation, cooperation with auditors, and addressing findings and recommendations.

What Will You Learn:

• Understand the audit process and its objectives
• Prepare effectively for an audit by maintaining accurate records and reviewing internal controls
• Cooperate with auditors during the audit process
• Address audit findings and recommendations through corrective actions
• Maintain open communication and document actions taken