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Accounting and Business Process in Practice

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About Course

This course provides a comprehensive foundation in core knowledge and practical skills required to prepare, understand, and interpret the accountiny cycle combining accounting principles with real-world business processes. Participants will gain a clear understanding of the objectives and elements of financial statements, the differences between financial statements and management accounts, and the key features of high-quality financial reporting.

The course also walks through the accounting cycle in practice, including revenue and cost of sales processes across various industries such as FinTech, FMCG, and Oil & Gas, highlighting industry-specific regulatory and operational considerations. Practical examples and double-entry illustrations are used to strengthen participants’ understanding of common business transactions.

 

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What Will You Learn?

  • By the end of this course, you will be able to:
  • Understand the objectives and purpose of financial statements
  • Differentiate between financial statements and management accounts
  • Identify and explain the key elements of financial statements, including: Assets, Liabilities, Equity, Income, Expenses
  • Understand the key features and qualitative characteristics of financial reporting
  • Apply the accounting cycle in practice, from transaction initiation to financial reporting
  • Understanding Charts of accounts, revenue and cost of sales processes within different business models
  • Analyze business processes and regulatory considerations across industries, including: FinTech, Manufacturing, Oil and Gas
  • Understand how industry-specific laws and regulations impact revenue recognition and cost classification
  • Apply double-entry accounting principles to common transactions, including:Sales of goods, Purchase of goods, Receipts from customers, Payments to vendors.
  • Link day-to-day transactions to their impact on financial statements
  • Build a strong foundation for accurate financial reporting and analysis

Course Content

Introduction to Accounting Cycle

  • Course Overview
    01:27
  • Accounting process in practice
    16:27
  • Question and Answer on Accounting Process in practice
    05:16
  • Overview of Accounting refresher
    00:38
  • Objectives of Financial Statement, Difference between FS and Mgts Accounts
    37:57
  • Question and Answer on objectives of FS
    19:21
  • Exercise on FS Objectives
    14:51
  • Solution to exercise
    02:51
  • Elements of FS I
    08:51
  • Element of FS II
    35:49
  • Transaction Impact on elements
    51:45
  • Try outs on transaction impact on FS
    20:03
  • Key underlying features
    01:37
  • Key Finance functions
    05:38
  • Question and Answer on Key Finance functions
    33:03
  • Try outs on Finance Functions
    06:39
  • Solution to the exercise on finance functions
    04:29

Charts of Accounts and Transaction postings

Industry Specific Accounting processes: Oil and Gas Industry

Fintech Industry

Manufacturing Industry

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