Accounting For Non – Accountants

Course Code: FA10

►Course Objective


  • Define accounting and the accounting cycle
  • Identify the major rules and principles of accounting under the International Financial Reporting Standards (IFRS)
  • Demonstrate knowledge of the basic accounting equation, double-entry bookkeeping, and the new automated accounting systems
  • List the key financial statements (balance sheet, income statement, changes in shareholders’ equity and cash flow statement) and their components
  • Practicefinancial statements’ adjustments at month and year-end


►Target Audience


  • Managers,
  • Supervisors
  •  and staff from any function including the accounting department who need to improve understanding, application and techniques of the language of numbers.


Course Outline

:Day 1

Introducing accounting and financial statements

  • Definition of accounting
  • Users of accounting information
  • Basic financial statements
  • The corporation defined
  • Presentation of accounting information by different business entities
  • International financial reporting standards
  • The International Accounting Standards Board (IASB)
  • Introduction to IFRS
  • Main differences between IFRS and US Generally Accepted Accounting Principles (GAAP)

Day 2:

Double-entry accounting

  • The accounting equation
  • Traditional double-entry bookkeeping
  • Your asset is his liability
  • The chart of accounts
  • The general journal
  • The general ledger
  • The trial balance
  • Modern bookkeeping: automating transactions

Day 3:

Income statements

  • Defining the income statement
  • Defining revenue and its recognition
  • Defining expenditures and their classifications
  • Calculating profit
  • Gross profit
  • Operating profit
  • Net profit
  • The income statement illustrated
  • Net equity
  • Defining capital stock
  • Dividends are not an expense
  • Cash dividends, stock dividends and stock split
  • Definition of treasury stock
  • Retained earnings - not the same as cash

Day 4:

The balance sheet and its components

  • Defining the balance sheet
  • Assets
  • Liabilities
  • Equity
  • Current versus non-current assets and liabilities
  • The balance sheet illustrated
  • Cash flow statement
  • Defining the statement of cash flows
  • Cash and cash equivalents
  • Classification of cash flows
  • Operating activities
  • Investing activities
  • Financing activities
  • The cash flow statement illustrated

Day 5:

Adjustments to financial statements

  • The accrual concepts
  • Accruals and prepayments
  • Depreciation
  • Bad debts
  • Provisions for contingencies

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Date & Location

Date : 10 May 2020

Duration : 5 days

Place : Kuala Lumpur

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Date : 18 October 2020

Duration : 5 days

Place : Istanbul

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Date : 20 December 2020

Duration : 5 days

Place : Abu Dhabi

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