Preparing Inventory Adjustments, Final Accounts, and Closing Entries

Course Objectives

At the end of the course, participants will be able to:

Understand accounting concepts and elements of the accounting system

Understand the accounting cycle, methods for recording and posting accounting entries, and inventory adjustments

Discover how to prepare accounting adjustments. For revenues, expenses, assets, and liabilities.

Learn about closing accounts and preparing final accounts and financial statements.

Acquire the skill of using the accounting worksheet to prepare settlement and closing entries.

Discover how to prepare settlements and accounting entries for certain financial transactions.

Methodology

This training course uses a combination of exercises, workshops, case studies, and presentations. Practical learning tools such as Excel are used in preparing reports and analytical tasks.

It also covers theoretical ideas and best practices in financial and accounting processes, budgeting, and reporting.

Target Audiences

This training course is aimed at all professionals working in the field of finance and accounting, including managers, supervisors, and accountants, who wish to apply and utilize tools that enable them to manage accounting and finance departments with high efficiency.

Target Competencies

Analytical Skills

Accounts Payable Management

Accounts Receivable and Inventory Accounting and Management

Financial Statement Preparation

Budgeting

Analysis and Reporting Using Excel