"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.
- To identify the basic elements of the basic financial statements
- Balance Sheet
- Income Statement
- To connect the basic principles to the information value of these statements
- To prepare these statements
- Accounting Terms & Definitions (for Reading )
- Accounting Scramble Exercise (to be submitted individually) via Google Form
Module 1 (AM session: 10:00 AM to 12:00 NN)
- Discussion of the Elements of the Balance Sheet
- Assets, Liabilities, Equity
- Transaction Analysis of BS changes
- Assets = Liabilities + Equity
- Information value of the Balance Sheet
- Discussion of the Elements of the Income Statement
- 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: 02:00 PM to 04:00 PM)
- Discussion of Common Taxes
- Income taxes>
- Value added taxes
- Withholding taxes
- Illustration of the Accounting Cycle (Accounting Link)
- Preparation of the Balance Sheet & Income Statement
- Balance Sheet reconciliations
- Fixed Asset Reconciliation
- Retained Earning Reconciliation
Slots are limited and on a first come, first served basis.
How to access the webinar: In a separate email, you will receive the link sent via ZOOM/ECCP.
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