Fundamentals of Accounting and Cost Accounting

 Fundamentals of Accounting and Cost Accounting

The axes of this course are:

🔷Introduction to Accounting

• What is accounting?
• Purpose
• Types of FS
• Financial vs Management accounts
• Accounting Concepts & Principles
• Accrual concepts

🔷Preparation of FS

• Assets, Liabilities, Income, Expense & Equity
• Accounting Equation
• Preparation of a Simple Income statement, Balance Sheet & Cash flow statement

🔷The Accounting world

• The Dual effect
• Debit vs Credits
• Trial Balance
• Identifying Errors and Correcting them
• Understanding and knowing each category

🔷Financial Statement Analysis

• Ratios :
• Profitability
• Efficiency
• Solvency
• Working Capital
• Reviewing an Insurance company FS

🔷Costs Management

• Nature of Costs – Fixed, Variable, Semi Variable
• Break Even point
• Identifying Insurance company Cost structure

The course duration is 8 training hour