"Financial Reports are as revealing of the HEALTH OF A BUSINESS as the pulse rate and blood pressure are indicators of the HEALTH OF A PERSON."
A fundamental financial objective of all organizations is to be healthy and stable. The financial reports are the means of the company to summarize and communicate financial performance.
If all the organs and parts of the body contribute to the well-being of the person, it also follows that the different sections/departments of the company contribute to its financial condition.
At the end of the module the learner would be able to:
a. Balance Sheet
b. Income Statement
Accounting Terms & Definitions (for Reading )
Accounting Scramble Exercise (to be submitted individually) via Google Form
Module 1 (AM session: 09:00 AM to 12:00 NN)
> Assets, Liabilities, Equity
> Transaction Analysis of BS changes
*Assets = Liabilities + Equity
> Information value of the Balance Sheet
> Revenues and timing of recognition
> Expenses and timing of recognition
> Transaction Analysis involving Income changes
*Assets + Expenses = Liabilities + Equity + Revenues
Session Break (12:00 NN to 01:59PM)
Module 1 (PM session: 01:30 PM to 04:30 PM)
> Income taxes
> Value added taxes
> Withholding taxes
> Preparation of the Balance Sheet & Income Statement
> Balance Sheet reconciliations
* Fixed Asset Reconciliation
* Retained Earning Reconciliation
Method: Lectures, and worksheet exercises
Duration: 6 hours | 09:00 AM to 12:00 NN & 1:30 PM to 4:30 PM (GMT +8)
Intended Audience: Officers and staff involved in Collections.