This 2 day course is designed for anyone who wishes to develop skills in accounting techniques or requires a better understanding of private sector accrual accounting and the financial statements prepared. This is the ideal course for anyone whose work requires a review of private sector financial statements, such as public sector grant areas.

Course Aim
The aim of this course is to provide participants with an understanding of how data is transformed into financial reports and what information each of the financial statements provides. The focus will be on large and small private sector businesses, their financial statements and different reporting requirements

Key Learning Objectives
At the conclusion of this course participants will:

• Know the different business structures available to run a business, such as: a sole trader, partnership, trust and the different types of companies
• appreciate the differences between the Accounting frameworks - accrual accounting and cash accounting
• Understand the definitions of the five major categories of the financial data: assets, liabilities, equity, revenue and expenses
• know the process of how the financial information is recorded, in order to build the financial statements under the double entry process
• develop an understanding of accounting terminology
• Know the different levels of accounting; management, financial and taxation, and understand their differences, including
  • What reports are generated at each level
  • What regulations exist at each level
  • What are the reports purpose
• Develop an understanding of the typical period-end adjustments under accrual accounting and why they are performed, including depreciation and provisions
• Understand how the different reporting requirements for large and small businesses impacts on the way their financial information is presented.