Overview

This practical 2-day course equips you with the fundamental principles of bookkeeping, leading you step-by-step through the process of recording financial transactions and generating a Trial Balance. Designed for complete beginners, the program combines clear explanations with real-world examples and hands-on exercises. You will learn to confidently track and categorise financial activity, ensuring accurate bookkeeping practices for any small business or personal finance needs.

Why Should an Individual Attend?

• Empower Your Business Decisions: Gain valuable financial insights to make informed decisions for your business, manage cash flow effectively, and track profitability.
• Simplify Tax Preparation: Master the language of accounting and ensure accurate record-keeping, streamlining your tax filing process and saving potential time and money.
• Boost Personal Financial Management: Effectively track income and expenses, monitor your financial health, and build a solid foundation for achieving your financial goals.
• Increase Employability: Demonstrate a coveted skill in a wide range of industries, especially for small businesses or entrepreneurial ventures. 

Outcomes

At the end of this course, the delegate should be able :

• Differentiate key accounting terms: Understand the basic vocabulary of financial transactions like assets, liabilities, income, and expenses.
• Identify the accounting equation: Master the fundamental equation that forms the basis of double-entry bookkeeping (Assets = Liabilities + Equity).
• Record transactions in a general journal: Learn to accurately record everyday business or personal financial transactions in chronological order.
• Classify accounts into ledgers: Categorise transactions into appropriate account types like cash, accounts receivable, accounts payable, and owner's equity.
• Post entries to general ledger accounts: Transfer journal entries to the respective general ledger accounts and maintain running balances.
• Prepare a Trial Balance: Generate a Trial Balance to verify the accuracy and completeness of your bookkeeping system. 

Program Outline

Introduction to Bookkeeping and Financial Statements

• Demystifying Bookkeeping: Understanding its purpose and importance
• The Accounting Equation and Double-Entry System
• Understanding Basic Accounting Terminology
• Introduction to Financial Statements (Balance Sheet & Income Statement)

Recording Transactions and Maintaining Ledgers

• Types of Accounts (Assets, Liabilities, Equity, Income, Expenses)
• Understanding the Chart of Accounts
• Recording Transactions in the General Journal
• Posting Journal Entries to General Ledger Accounts
• Balancing Individual Ledger Accounts

Reconciling Accounts & Preparing the Trial Balance

• Bank Reconciliation: Balancing the Cash Account
• Importance and Purpose of the Trial Balance
• Analysing the Trial Balance for Errors
• Introduction to Bookkeeping Software (Optional) 

Who Should Attend?

• Engineers
• Architects
• Project / Construction Managers
• Quantity Surveyors
• Construction Health & Safety
• Contractors / Sub Contractors
• Executives / Senior Management
• Middle Management
• Others: Anyone with no prior bookkeeping experience.