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Accrual Accounting

Daytime Program

Overview

Gain an understanding of the basic principles of accrual accounting and the introduction of this financial practice into the public sector.

Job Opportunities

Finance Officer in accounts payable and/or accounts receivable in both the public and private sector

Who should Attend

People who:

  • work in financial control sections
  • are responsible for producing financial statements
  • are managers wishing to be brought up-to-date with accrual accounting practices

Entry Requirements

To be eligible to enter this course you will need:

  • to be mature age (20 years or over)
  • to have access to the specific work practices and procedures required to demonstrate competency in the units undertaken

What's involved

  • Face to face training sessions
  • Milestone activities
  • In-class exercise

Class Size

Minimum 8 participants
Maximum 20 participants

Objectives

On completion of this course, you should be able to:

  • Prepare a set of financial statements (an income statement, cash flow statement, balance sheet) from a given set of transaction information
  • Describe the main principles that guide the preparation of financial statements
  • Analyse transactions in terms of their impact on the accounting equation
  • Describe the main reasons for preparing financial statements
  • Describe the main principles of financial management and control, including the role of budgets in accounting control
  • Identify the source and major features of financial management and accounting requirements in the public sector
  • Use financial processes to identify and implement public sector financial requirements

Course Structure

This course covers the following units of study:

  • Use public sector financial processes
  • Prepare financial reports
  • Report financial activity
  • Prepare operational budgets
  • Prepare financial statements
  • Maintain asset and inventory records
  • Reconcile and monitor accounts receivable