Course Overview and DescriptionEssentially, our world revolves around numbers, and there is nowhere more important than in a Company or Organisation. They are used to monitor and control the Financial Health of the organisation, steering it towards profitability and ensuring the sustainability of the operation and the well-being of the owners and employees alike.
This course introduces the bookkeeping and accounting processes used to financially manage the organisation, dealing with the very basics of what you need to know and understand.
Financial management has a language almost of it's own, and you need to firmly grasp that language in order to understand the logic of the bookkeeping and accounting process.
Thus we start at the very bottom and work upwards, with the following objectives.
- Understand basic accounting terminology.
- Identify the differences between the cash and accrual accounting methods.
- Keep track of your business by becoming familiar with accounts payable and accounts receivable.
- Use a journal and general ledger to document business financials.
- Utilise the income statement and balance sheet.
- Identify the different types of financial statements.
- Look at budgeting and it's importance to the organisation.
- Become familiar with Internal and External Auditing.