Introduction to Accounting Principles

Day 1: Core Accounting Concepts and the Accounting Cycle

Morning Session (9:00 AM – 12:30 PM):

1. Welcome and Course Overview
   • Introduction to the course objectives and structure.
   • Icebreaker activity (to understand participants' backgrounds and goals).
2. Module 1: Basics of Accounting
   • What is Accounting and its Importance?
   • Key Accounting Terms and Concepts (Assets, Liabilities, Equity, Revenue, Expenses).
   • The Double-Entry System: Understanding Debits and Credits.

Activity:

• Identifying and Classifying Transactions (Interactive Exercise).

Lunch Break (12:30 PM – 1:30 PM)

Afternoon Session (1:30 PM – 5:00 PM):
3. Module 2: The Accounting Cycle

• Recording Transactions in Journals.
• Posting to Ledgers.
• Adjusting Entries and Trial Balances.

4. Hands-On Practice:
   • Participants will practice journalizing and posting sample transactions to ledgers.
5. Case Study:
   • Completing an Accounting Cycle for a small business scenario.

Q&A and Day 1 Wrap-Up (4:45 PM – 5:00 PM)

Day 2: Financial Statements, Managerial Accounting, and Technology

Morning Session (9:00 AM – 12:30 PM):

1. Module 3: Financial Statements
   • Preparing and Understanding the Balance Sheet.
   • Preparing and Understanding the Income Statement.
   • Basics of the Cash Flow Statement.
2. Activity:
   • Interpreting and Analyzing Sample Financial Statements.
3. Module 4: Managerial Accounting Basics
   • Budgeting and Forecasting.
   • Break-even Analysis and Decision-Making.

Lunch Break (12:30 PM – 1:30 PM)

Afternoon Session (1:30 PM – 4:30 PM):
4. Module 5: Technology in Accounting

• Overview of Accounting Software (QuickBooks, Xero).
• Hands-On Practice: Recording Transactions and Generating Financial Reports Using Software.

5. Module 6: Ethics and Professional Standards in Accounting
   • Importance of Ethical Practices.
   • Discussion of Real-World Ethical Dilemmas in Accounting.
6. Capstone Activity:
   • Participants complete a final exercise that includes recording transactions, preparing financial statements, and analyzing financial health for a sample company.

Closing Session (4:30 PM – 5:00 PM):

• Review of Key Concepts.
• Participant Q&A.
• Feedback Session.
• Certificate Distribution and Closing Remarks.

Training Methodology:

• Interactive Presentations to explain key concepts.
• Hands-On Activities for practical application of skills.
• Group Discussions for collaboration and deeper understanding.
• Capstone Project for final assessment.

Course Objectives

By the end of this course, participants will:

1. Understand fundamental accounting principles and concepts.
2. Develop the ability to analyze and record business transactions.
3. Gain proficiency in preparing and interpreting financial statements.
4. Understand managerial accounting basics for decision-making.
5. Learn about ethical practices and professional standards in accounting.
6. Familiarize themselves with technology used in modern accounting.

Learning Outcomes

Participants will be able to:

1. Explain the purpose and functions of accounting in a business environment.
2. Identify, record, and classify business transactions accurately.
3. Prepare key financial statements and analyze their components.
4. Apply basic cost accounting techniques to support business decisions.
5. Utilize accounting software to manage financial data effectively.
6. Recognize and adhere to ethical standards in accounting practice.