Final Accounts: Fast Closing Monthly and Year-End Accounting

To take participants through the nitty-gritty of preparing final accounts and other periodic (weekly, monthly, annual) financial statements

Content:

• Accounting Process
• Recording Transactions
• Balancing the Accounts
• Preparing Trial Balance
• Finalization of Accounts
• Journalizing adjustmenet entries
• Passing the closing or transfer entries
• Preparing Financial Statements
• Reconciliation of Books
• Reasons for reconciling the books
• Procedue or steps for reconciliation
• Inventory Accounting
  • Inventory Accounting Systems
  • Inventory Valuation Methods
  • Inventory and its impact on Financial Statements
• Depreciation Accounting
  • The Methods of Depreciation
  • Accounting for Depreciation
  • Depreciation and its impact on Cashflow and income tax
• Preparing  Final  Accounts
  • The Profit and Loss Account
  • The Income and Expenditure Account
  • Graphic Illustrations i.e. Bar Chart, Pie Charts and Graphs
• Preparation for the Auditor
  • Incorporating Pre and Post Audit Adjustment
  • Audit Committee Relationships
  • Directors and Auditors Responsibilities
• Corporation Tax
  • Adjusted Profits
  • Tax Incentives
  • Capital Allowance
  • Basis periods for Continuing Business

For Whom: Directors, Accountants, Auditors and other management staff who perform related functions in the Public and Private Sectors.

 This course is being run by Alpha Partners in collaboration with The Institute of Chartered Accountant, Lagos Mainland District.

Training Methodology

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participants will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Contact Person

Chris Onwuasigwe, FCA