Certified Accounts Assistant

The accounts assistant training course provides all the important concepts and practical skills applied and worked as an accounts assistant or finance assistant. Basic content, record and generate invoices and purchases, expenses and sales receipts, a VAT return, VAT reconciliations, uses of different VAT schemes and directs, managing year-end closing, different payroll methodologies such as setting up employees, processing payslips, and keeping statutory payments submission RTI, and calculating pay deductions. Knowledge learnt by getting this payroll training course, covers all journal and trial balance rectification in depth. The use of different accounting software like SAGE, XERO, QuickBooks, and MS Excel spreadsheets to record all these transactions and accumulate hands-on practical accounting training within a professional accounting environment. It features a good deal of working knowledge and practical experience on the different bookkeeping methodologies as well as techniques that are key to better recording and storing financial information on a day-to-day basis. Designed to achieve complete exposure to bookkeeping, tax returns, and payroll accounting principles, our CPD-certified accounting professionals will coach you through it all. The simplicity of blending an all-encompassing theoretical subject with requisite realism gives you enormously competitive leverage in your quest to get a job. This training course will introduce you to the skills relating to understanding key areas within accounting. 1. Generally Accepted Accounting Principles (GAAP) In this course attendees will understand the concept of generally accepted accounting principles (GAAP). Principles such as consistency, relevance, reliability, and comparability constitute the major cornerstones of GAAP. These principles prescribe how a company has to recognise, measure, and present its financial statements. Following these principles ensures that the financial statements of a business show a true and fair view of the business. a. Importance of GAAP It then becomes very essential for the companies to properly comply with the GAAP for credibility to be maintained in view of investors, auditors, and regulatory authorities. To be in compliance with GAAP means that financial statements are accurate and thus reduces the risk of error and fraud. It also makes comparing companies even easier, especially for an investor very keen on assessing the financial health of a company. b. GAAP vs. IFRS  GAAP is applicable and used widely, especially in the United States, but other parts of the world still follow the International Financial Reporting Standards. Both frameworks contain some similarities, but also consist of key differences in areas such as revenue recognition and asset valuation. With the growing interconnectedness of the global market, efforts are being made to make GAAP and IFRS converge into one standard. c. Role of the Financial Accounting Standards Board (FASB) The FASB is well known for creating and maintaining GAAP in the United States. What the FASB basically does is form new standards and update past standards that are supposed to reflect the changes in the business environment. FASB works closely with other organizations so as to also keep GAAP very relevant and effective.