ESSENTIAL KNOWLEDGE OF BOOKKEEPING

Live-Online Training: N210,000
Classroom Training: N280,000
3 - 4 participants: 5% discount
5 or more participants: 10% discount

(Available also for Customised Training by Duration, Venue & Fee)

Programme Description

This course will explain bookkeeping simply, systematically and comprehensively, and also show how it supports the success of business - micro, small, medium or large.

If it is a business, the bottom line, without an exception, is ultimately presented as money. And money is numbers which for a business is expressed in the language of bookkeeping. That is how financial records are kept succinctly. Therefore, everyone involved with business must be able to make up the records or understand the records that are made up by others in the way of this course.

Course Contents

DAY ONE

Introduction

• Significance of Proper Bookkeeping to a Business.

Mastering the Basic Language of Bookkeeping

• Revenue
• ​Cost of Goods Sold
• ​Expenses
• Profit and Loss
• ​What the Journal Contains
• ​What is in the General Ledger.

 Keeping Track of the Business

• Accounts Receivable
• • credit sales
  • establishing credit policy for the business
  • monitoring the debtors
  • analyzing the age of debts
  • cautions to prevent default.
• Accounts Payable
• • credit purchases
  • employee Benefits
  • taxes.

DAY TWO

• Cash Flow – the Lifeblood of Business
• Cash Management
• Reconciling Cash and Bank
• Inventory Accounting - inflow & outflow
• Meaning and Use of the Balance Sheet
• Monitoring Assets
• Monitoring Liabilities
• Depreciation
• Working with the Trial Balance.

DAY THREE

Budgeting

• How to Create a Budget
• Reasons for a Budget
• Comparing Budget to Actual.

Keeping Controls

• Billing of Customers
• Cash and Cheque collection
• Petty Cash Management
• Cash on Hand
• Cash in Bank
• Debt Recovery.