- Understand the Fundamentals of Bookkeeping: Gain a comprehensive understanding of bookkeeping principles and concepts essential for accurate financial record-keeping. Explore the role of bookkeeping in tracking income, expenses, and financial transactions to maintain transparency and accountability in business finances.
- Master the Double-Entry System: Learn how to apply the double-entry system to record financial transactions accurately and maintain balance in accounting records. Develop proficiency in distinguishing between debit and credit entries and understand their significance in maintaining financial accuracy.
- Explore Accounting Records and Components: Familiarize yourself with critical components of accounting records, including ledgers, journals, financial reports, and bank reconciliation reports. Understand how these components work together to comprehensively overview a business’s financial activities and position.
- Learn Practical Bookkeeping Skills: Acquire practical skills in recording transactions, maintaining ledgers, and reconciling accounts. Engage in hands-on exercises to apply bookkeeping principles to real-life financial data and scenarios, reinforcing your understanding and proficiency in bookkeeping techniques.
- Understand Customer and Supplier Transactions: Explore the financial transactions related to customers and suppliers, including sales, trade receivables, discounts allowed, cost of sales, inventory, trade payables, and discounts received. Learn to record and track these transactions accurately to maintain financial transparency and compliance.
- Gain Insight into Bank Transactions: Understand the importance of bank transactions in bookkeeping and learn how to accurately record money received and spent through bank accounts. Explore the role of bank reconciliation reports in ensuring accuracy and consistency in accounting records.
By the end of this session, participants will have gained a solid understanding of bookkeeping fundamentals, mastered the double-entry system, explored key components of accounting records, acquired practical bookkeeping skills, and developed proficiency in recording and tracking financial transactions accurately.
