The accounts assistant training course provides all the important concepts and practical skills applied and worked as an accounts assistant or finance assistant. Basic content, record and generate invoices and purchases, expenses and sales receipts, a VAT return, VAT reconciliations, uses of different VAT schemes and directs, managing year-end closing, different payroll methodologies such as setting up employees, processing payslips, and keeping statutory payments submission RTI, and calculating pay deductions. Knowledge learnt by getting this payroll training course, covers all journal and trial balance rectification in depth. The use of different accounting software like SAGE, XERO, QuickBooks, and MS Excel spreadsheets to record all these transactions and accumulate hands-on practical accounting training within a professional accounting environment. It features a good deal of working knowledge and practical experience on the different bookkeeping methodologies as well as techniques that are key to better recording and storing financial information on a day-to-day basis. Designed to achieve complete exposure to bookkeeping, tax returns, and payroll accounting principles, our CPD-certified accounting professionals will coach you through it all. The simplicity of blending an all-encompassing theoretical subject with requisite realism gives you enormously competitive leverage in your quest to get a job.

This training course will introduce you to the skills relating to understanding key areas within accounting.

1. Generally Accepted Accounting Principles (GAAP)

In this course attendees will understand the concept of generally accepted accounting principles (GAAP). Principles such as consistency, relevance, reliability, and comparability constitute the major cornerstones of GAAP. These principles prescribe how a company has to recognise, measure, and present its financial statements. Following these principles ensures that the financial statements of a business show a true and fair view of the business.

a. Importance of GAAP

It then becomes very essential for the companies to properly comply with the GAAP for credibility to be maintained in view of investors, auditors, and regulatory authorities. To be in compliance with GAAP means that financial statements are accurate and thus reduces the risk of error and fraud. It also makes comparing companies even easier, especially for an investor very keen on assessing the financial health of a company.

b. GAAP vs. IFRS 

GAAP is applicable and used widely, especially in the United States, but other parts of the world still follow the International Financial Reporting Standards. Both frameworks contain some similarities, but also consist of key differences in areas such as revenue recognition and asset valuation. With the growing interconnectedness of the global market, efforts are being made to make GAAP and IFRS converge into one standard.

c. Role of the Financial Accounting Standards Board (FASB)

The FASB is well known for creating and maintaining GAAP in the United States. What the FASB basically does is form new standards and update past standards that are supposed to reflect the changes in the business environment. FASB works closely with other organizations so as to also keep GAAP very relevant and effective.

Objectives:

The objective of this course is to create strong fundamentals of principles and practice of accounting so that the learner develops a crucial skill set in bookkeeping and financial reporting along with making use of accounting software. It also covers taxation, compliance, and ethical practices which will prepare students for entry-level accounting roles. At the end of the course, attendees will be prepared to handle financial records, analyses, and communication in a professional setting.

Who Should Attend?

1. Aspiring accountants pursuing basic accounting knowledge.

2. Finance professionals wishing to improve their practical accounting skills.

3. Individuals thinking about changing into a finance career.

4. Administrative professionals who want to boost their financial knowledge.

5. People with no prior accounting experience who want to start a career in accounting. 

6. Accounting professionals who wish to acquire their certificate in accounting and gain a documented recognition.

How will attendees benefit?

After completing the course, attendees have following benefits:

1. Career Advancement: Provides opportunities for entry-level accounting work and advancement into a finance career.

2. Hands-On Exposure: Involves application of accounting software and real-life accounting operations such as bookkeeping, preparation of financial reports, and many others.

3. Global Recognition: A worldwide certification for the credibility and employability enhancement of a candidate in the field of accounting.

4. Comprehensive Knowledge: Such as taxation, compliance, and financial analysis-all essential areas to round out the knowledge level in accounting practices.

5. Increased Earning Potential: Helps to equip you with the skills necessary to land higher-paying positions within accounting and the finance sector.

6. Convenience: Good for the novice as well as for the person who would like to formalise or develop their current knowledge of accounting.

7. Ethics Training: Instills the importance of ethical practice within you so that you are well prepared to cope at work responsible and in a professional manner within the finance domain.

8. Enhanced Job Readiness: Prepares you with the essential tools to knowledge and skills required to thrive in an accounting career.

Introduction to Accounting and Finance

• Basic concepts and terminology

• The role of an accounts assistant

• Understanding accounting standards and principles

• Overview of GAAP and FASB as frameworks for financial reporting

Bookkeeping Essentials

• Recording transactions (debits and credits)

• Ledgers, trial balance, and reconciliations

• Cash flow management

Understanding Financial Statements

• Preparing income statements and balance sheets

• Analyzing financial data for business insights

• Aligning financial reports with FASB and GAAP standards

Introduction to Taxation

• Types of taxes (income tax, VAT, etc.)

• Basics of tax filing and reporting

• Ensuring tax compliance in line with accounting standards like FASB and GAAP

Managing Business Accounts

• Payroll, invoicing, and payments

• Managing accounts payable and receivable

• Bank reconciliations

• Applying FASB and GAAP in everyday business accounting

Introduction to Accounting Software

• Hands-on practice with popular accounting tools

• Generating reports using accounting software

• Leveraging software tools for GAAP and FASB compliance