Skills in Accounting

Accounting Basics – 3-Month Course Outline

Duration: 12 Weeks (Approx. 120 Hours)
Mode: 5 Classes per Week, 2 Hours per Class

Month 1: Introduction to Accounting Principles

Week 1: Fundamentals of Accounting

• What is accounting and its purpose
• Users of financial information
• Types of accounts (assets, liabilities, equity, revenue, expenses)
• The accounting equation

Week 2: Double Entry System

• Debit and credit rules
• Recording business transactions
• Journal entries
• Practical exercises on ledger posting

Week 3: Books of Original Entry

• General journal and special journals
• Sales and purchases journals
• Cash book (single and double column)
• Petty cash and imprest system

Week 4: Ledger and Trial Balance

• Ledger account preparation
• Balancing accounts
• Creating and interpreting a trial balance
• Common errors and corrections

Month 2: Financial Reporting and Controls

Week 5: Adjustments and Final Accounts (Part 1)

• Accruals and prepayments
• Depreciation methods (straight-line, reducing balance)
• Bad debts and provision for doubtful debts
• Inventory valuation basics

Week 6: Adjustments and Final Accounts (Part 2)

• Capital vs revenue expenditure
• Provisions and contingencies
• Introduction to end-of-year adjustments
• Preparing adjusted trial balance

Week 7: Income Statement

• Structure of the trading account
• Profit and Loss account preparation
• Gross and net profit
• Analyzing business performance

Week 8: Balance Sheet

• Understanding assets, liabilities, and equity
• Classifying items as current/non-current
• Preparing a basic balance sheet
• Interpreting financial position

Month 3: Practical Accounting & Technology Tools

Week 9: Cash and Bank Reconciliations

• Bank statements vs cash book
• Causes of differences
• Preparing bank reconciliation statements
• Practice problems

Week 10: Introduction to Accounting Software

• Overview of common accounting tools (e.g., QuickBooks, Wave, Excel)
• Creating company accounts
• Entering transactions and generating reports
• Hands-on exercises

Week 11: Payroll and Tax Basics

• Understanding payroll calculations
• Statutory deductions (NSSF, NHIF, PAYE – for Kenya context)
• Introduction to VAT and withholding tax
• Simple payroll spreadsheet creation

Week 12: Final Project & Certification

• Real-world accounting scenario project
• Preparing final accounts from given data
• Presentation of results and review
• Award of certificates