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Introduction to Accounting for New Recruits


This Activity is presented by Bentleys. 

The workshop provides a practical, hands-on application of accounting processes, systems and theory for those seeking a broader understanding of accounting and bookkeeping. 

The course is not computer-based, but is instead designed to give participants an understanding of what happens in accounting behind the computer screen.

Content Description

Participants will gain a practical understanding of accounting and bookkeeping, to ensure they are ‘work-ready’ and ultimately more productive on commencing employment within an Accounting firm. The course will ensure they start their accounting career with a solid understanding of the fundamentals of accounting.
 
The workshop takes a hands-on approach using real case studies and exercises. Participants will work through the accounting transactional flow in detail, from processing transactions, adjusting journal entries, preparing financial statements and then interpreting those financial results and making recommendations to their clients accordingly. 

Key learning areas of the workshop include: 
  • Introductory accounting principles and concepts, including the purpose of bookkeeping, the different accounting entities, debits and credits, double entry principles, and the bank view versus the organisational view. 
  • Accounting processes – the flow of accounting journals and ledgers. 
  • Basic Goods & Services Tax (GST), including an introduction to the Business Activity Statement (BAS). 
  • Preparing and understanding the bank reconciliation process. Understanding accrual accounting versus cash accounting. 
  • Processing adjusting entries, including accruals, prepayments, stock, provisions, depreciation and disposals of fixed assets. 
  • Preparing and understanding the Trial Balance, Balance Sheet, Profit & Loss Statement. 
  • Understanding the Cash Flow Statement and the difference between Profit and Cash Flow. 
  • Reading, understanding and interpreting the key financial statements, including ratio analysis.

Learning Outcomes

Upon satisfactory completion of this workshop you will be able to: 
  • Describe the Accounting Entity Concept. 
  • Understand the different accounting entities. 
  • Describe the basic concepts of accounting. 
  • Understand the different areas of accounting. 
  • Describe the purpose bookkeeping. 
  • List the different types of transactions. 
  • Understand the different source documents. 
  • Describe the different types of ledgers. 
  • Explain and demonstrate double-entry bookkeeping, including debits and credits. Understand and prepare the key financial reports, including Balance Sheet, Profit & Loss Statement, and Cash Flow Statement. 
  • Explain Accrual accounting, and demonstrate an understanding of accruals, prepayments and other adjustments, including processing adjusting journal entries. Detail what the financial reports do and do not tell you. 
  • Read and understand the key financial reports. 
  • List, describe and calculate the key ratios in evaluating a business’ performance. 
  • Understand and interpret what the key ratios mean in evaluating an organisation performance. 

Benefits

Participants will gain a practical understanding of accounting and finance that is often overlooked at tertiary education. 

They will gain valuable insight into basic accounting principles, systems and theories and how they relate to the workplace. This will ensure learners are more productive in the workplace from their first day
Steven Forgione 
CA Client Director, Bentleys NSW Pty Ltd 

Steven has nearly 20 years professional experience in the accounting and finance sector, providing accounting, taxation and general business advice to private clients and small to medium sized businesses. 

He understands the special needs of high net worth individuals, business groups and family businesses, and has provided valuable advice to clients and businesses across a broad range of industries. 

Steven has run introductory accounting and finance workshops for many large corporates, accounting firms, and the general public in various forms over the last 14 years.

EVENT DETAILS


Topic: Audit & Assurance, Business Mindset, Corporate Finance, Financial Advisory and Superannuation, People & Leadership

Sub-Topic: Business Reporting, Business Tax, Employment Taxes - PAYE, PAYG & FBT, Finance Management, Financial Planning & Advisory, Financial Reporting, Operational Excellence, Personal Effectiveness

Format: Workshop

Proficiency Level: Foundation, Intermediate

CPD: 19.5 hours