Junior Accountancy

About This Course

Junior Accountancy London International College (LIC) Advanced Certificate

3-MODULES COVERED - Must successfully pass all courses:

• Practical Accounting
• Practical BookKeeping
• Computerized Accounting (PeachTree/Sage 50)

Custom Payment Plans Available. DURATION: 3 Months.

The aim of this program is:

• To understand all aspects of Accounting at a given workplace theoretically and practically.
• To gain experience by actually performing Accounting tasks in a live system.
• To be able to communicate effectively in the workplace.
• To appreciate all aspects of Computers in an Accounting environment.

1. Practical Accounting - Learning Outcomes: Understand the purpose of accounting and its processes; Identify what the books of prime entries are and how to apply with relevance; Know the principles of accounting and its key concepts, namely the law of double entry; Record accounting entries and understand how to close and balance off accounts; Account for year-end adjustments such as depreciation, accruals, prepayments and provision for bad and doubtful debts; Understand the purpose and uses of the Trial Balance, and how it is derived; Prepare financial statements and other key accounting reports such as control accounts and bank reconciliations; Interpret financial statements and perform analytical commentary on the financial results; Understand the basic concepts of payroll and taxation relevant to T&T.

2. Computerized Accounting (Sage 50/Peach-Tree) - Learning Outcomes: Identify, describe, and explain the importance of the key functions of Computerized Accounting; Setup a company using the computer software Sage 50; Establish default information for Customers, Vendors, and Inventory; Add new Customers, Vendors, and Inventory; Enter beginning balances; Enter Quotes, Sales Orders and Sales Invoices; Record Receipts, Prepayments and Customer refunds; Enter Purchase Orders; Receive Inventory and Enter Bills; Record Payments, Prepayments and Vendor refunds; Run Accounts Receivable, Payable and Inventory Reports; Maintain company data by backing up, restoring and setup security.

3. Book-Keeping - Learning Outcomes: Identify the key roles of the bookkeeper in the organization; Understand the relationship between all elements in the accounting cycle; Identify the process of recording financial data into the books of original entry; Post financial data from the books of original entry into the relevant ledgers using the double entry; Balance and close all ledgers and extract a Trial Balance; Understand and use control systems including bank reconciliations; Prepare Financial Statements of an organization.

Duration: 3 & 1/2 Months | Lectures: 8 | Quizzes: 1 | Level: Beginner

Topics Covered

• Practical Accounting
• Practical BookKeeping
• Computerized Accounting (PeachTree/Sage 50)