Introduction to recordkeeping

Target audience of this course:

Individuals with limited background or who do not have knowledge about the accounting and recordkeeping process such as students, teachers, small business workers and public auditors.

Course Objectives:

After completing the course, students will be able to learn the following:

• Understand the nature of the recordkeeping function and control accounts.
• Understand the effect of transactions on the accounting equation.
• Know basic and implement practical Value Added Tax.
• Processing accounting data in sub-journals and books of accounts.
• Prepare the audit balance.
• Reconciling the control of the accounts of creditor customers and account of the general ledger.
• Reconciling the control of the accounts of debtor customers and account of the general ledger.
• Complete the bank reconciliation report and reconcile the bank account control with the balance of the final bank statement.
• Understand the difference between a continuous inventory system and a periodic inventory system.
• Final inventory calculation using weighted average or retail method or FIFO.