Module 1: Introduction to Accounting
  • Basics of Accounting
    • Definition and importance of accounting
    • Accounting principles and concepts (GAAP, accruals, matching concept)
    • Types of accounts (personal, real, nominal)
  • Fundamental Accounting Equation
    • Assets, liabilities, and equity
    • Expanded accounting equation and its implications
    • Practical examples of transactions
  • Accounting Cycle
    • Steps in the accounting cycle: journal entries, ledgers, trial balance, financial statements
    • Role of technology in modern accounting
Module 2: Financial Statements
  • Introduction to Financial Statements
    • Purpose and importance of financial statements
    • Components of financial statements: balance sheet, income statement, cash flow statement
  • Balance Sheet
    • Assets, liabilities, and equity breakdown
    • Current vs. non-current classification
    • Practical examples and interpretations
  • Income Statement
    • Revenue, expenses, profit/loss
    • Types of income statements (single-step, multi-step)
    • Profitability analysis and ratios
Module 3: Accounting Principles and Standards
  • Generally Accepted Accounting Principles (GAAP)
    • Importance of GAAP and its application in accounting
    • Key principles: revenue recognition, expense matching, full disclosure
  • International Financial Reporting Standards (IFRS)
    • Overview of IFRS and global accounting standards
    • Differences between GAAP and IFRS
  • Ethics in Accounting
    • Importance of ethics and integrity in accounting
    • Case studies on ethical issues in accounting
Module 4: Bookkeeping Essentials
  • Double-Entry Bookkeeping System
    • Debit and credit rules
    • Journal entries and ledger accounts
    • Practical exercises with T-accounts
  • Bank Reconciliation
    • Purpose and importance of bank reconciliation
    • Steps in the reconciliation process
    • Identifying and correcting discrepancies
  • Trial Balance and Adjustments
    • Creating a trial balance
    • Identifying errors and making adjustments
    • Preparing an adjusted trial balance
Module 5: Payroll Accounting
  • Introduction to Payroll Accounting
    • Payroll fundamentals: gross pay, net pay, deductions
    • Legal requirements and employee documentation
  • Payroll Calculations
    • Calculating salaries, wages, overtime, bonuses
    • Deductions: taxes, retirement contributions, health insurance
  • Payroll Compliance
    • Employer’s obligations for tax reporting
    • Record-keeping and compliance with labor laws
Module 6: Cost Accounting
  • Introduction to Cost Accounting
    • Types of costs: fixed, variable, direct, indirect
    • Importance of cost accounting in decision-making
  • Costing Methods
    • Job costing, process costing, and activity-based costing
    • Practical applications and examples
  • Break-Even Analysis and Marginal Costing
    • Calculating break-even points
    • Contribution margin and its impact on pricing