Understanding Double Entry to Trial Balance – Part 1

Accounting is an integral part of all organisations. Producing financial reports are the fundamental of accounting and starts with the humble double entry system.  These are transaction that forms the foundation of management accounts of the organisation. The key element of the training course is the focus on practical application of how double entry and other elements like the trial balance are used to create the management accounts and how these are adapted by directors to make decisions and further financial statements for the organisation.

This GLOMACS training course on Understanding Double Entry to Trial Balance - Part 1 aims to provide a clear insight into the process of gather transactions in its most raw form and processing them into accounting records to produce the financial statements that would provide key information for the various stakeholders of the organisation.

This "Understanding Double Entry to Trial Balance - Part 1" training course will highlight:

• Identifying the sources of a business transactions
• Understanding the elements of accounting and the impact of transactions
• Processing of transaction to their ledgers and their effects
• Understanding the balances of ledger and statement of account
• Extracting a trial balance and its further use in preparing Financial Statements

At the end of this "Understanding Double Entry to Trial Balance - Part 1" training course, you will learn to:

• Understanding the impact of transaction on the elements of accounting
• Learn how to Process transactions to their ledgers
• Analysing Accounts balance and statement of accounts
• Understanding the Credit system that businesses operates
• Extracting a Trial Balance from the respective ledgers

Using a combination of lectures, group exercises and individual exercises with practical applications, the delegates will gain both a theoretical and practical knowledge of the topics covered. The emphasis is on the real world and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned

The Organisation will benefit as the following;

• Providing the delegate with the knowledge of impact of transactions
• Analysing the results from transaction giving management more accurate updates
• Reduction of accounting errors when posting transactions to their accounts
• Increase the productivity among the workforces
• Better understanding and interpretation of the various statement of accounts
• Seeing the impact of the transaction when preparing the Financial Statements

The delegates will benefit as the following;

• Understanding of why accounting systems is done in such manner
• Ability to easily spot errors from the systems and reports
• Generate timely information for the users
• Recognition of the link between financial transactions and their effects
• Skills to assist colleagues that may not have been on such course to improve their task
• Networking and understanding other systems used in accounting

This "Understanding Double Entry to Trial Balance - Part 1" training course is suitable to a wide range of professionals but will greatly benefit:

• Accounts Payable, Receivable and General Ledger Staff
• Accounts Manager
• Procurement and Inventory Manager
• General Manager
• Non Accounting Executives
• Human resources Personnel