Management >> Costing Finance and Accounting

Basic Concepts of Accounting

MF133

Location

Duration

Date

Fee inclusive of VAT

Riyadh
2 Days
14-12-2025
6,900 (SAR)

Course Overview

This course provides a solid foundation in accounting principles and practices essential for professionals interacting with financial data. It equips participants with practical skills to interpret financial statements, understand double-entry bookkeeping, and implement core accounting principles. Ideal for those new to accounting or transitioning into finance roles, it ensures confidence in applying fundamental concepts to real-world corporate environments.

Course Objective

By the end of the course, participants will be able to:

  • Apply double-entry bookkeeping to record financial transactions accurately
  • Prepare and interpret core financial statements
  • Understand and apply fundamental accounting principles
  • Execute adjusting and closing entries within the accounting cycle
  • Develop basic budgeting and financial planning skills

Who Should Attend?

  • Entry-level accounting professionals
  • Non-accounting professionals managing budgets
  • Career switchers into finance roles
  • Individuals managing personal or small business finances

Course Outline

Module 1: Introduction to Accounting

  • Importance of accounting in business
  • Roles and responsibilities of accountants
  • Overview of financial statements
  • Accounting equation
  • Types of business entities

Module 2: Fundamental Accounting Principles

  • Accrual vs. cash basis accounting
  • Revenue recognition and matching
  • Historical cost and objectivity principles
  • Materiality and consistency

Module 3: Double-Entry Bookkeeping

  • Debits and credits
  • T-accounts and general ledger
  • Recording transactions
  • Preparing a trial balance

Module 4: Recording Transactions

  • Analyzing business transactions
  • Journalizing and posting
  • Practice exercises and real-life examples

Module 5: Adjusting Entries

  • Purpose and types of adjustments
  • Accruals and deferrals
  • Depreciation and bad debts
  • Examples and exercises

Module 6: Financial Statements

  • Income statement preparation
  • Balance sheet structure
  • Cash flow statement overview
  • Financial ratio analysis

Module 7: Closing Entries and the Accounting Cycle

  • Purpose and steps of closing entries
  • Income summary and retained earnings
  • Reversing entries
  • Full accounting cycle review

Module 8: Introduction to Budgeting

  • Role of budgeting in planning
  • Types and steps in budget creation
  • Budgeting techniques
  • Budgetary control and variance analysis

Module 9: Case Studies and Applications

  • Real-world scenarios in accounting
  • Application of principles to cases
  • Group discussions and feedback

Module 10: Review and Assessment

  • Summary of key concepts
  • Final group discussion
  • Knowledge assessment quiz and wrap-up

Training Methodology

The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.

Terms & Conditions

ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy

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