Final Accounts

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Course Description

Final Accounts training combines all the training courses at Future Connect and gives a full on experience of a complete accounting cycle. You will be starting off with bookkeeping and VAT. After gaining Bookkeeping skills on various industries the trainees move on to intermediate level of accounts and learn to close the books for the year. At this stage the initial trial balances are computed and Trainees are given chance to attend the academic classes focusing on CIS, Control Accounts , Advanced Excel and FRSSE.
The Final accounts training is done on Sage Accounts Production Advanced software. The trainees are given a chance to make a complete company file including the computation of cooperation tax. The course is suitable for trainees how are currently working in accounting sector and wants to enhance the skills to go to the next level.

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Training HoursSoftware OptionsBlended LearningPerfomance ReviewCVWork PlacementJob Support
2205        

Who is it for

The course is suited for Accounting professionals who want to enhance their career options.

  • Career changers seeking a job role in accounting sector
  • Learners parsuing accounting qualification
  • Candidates with overseas experience

Try before you enroll

  • Join us for free one day training and see how we are different and supportive in our training approach
  • Call or text now to reserve your free training session
  • We are just a text away 07588 454536
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Software included

Sage Practical Training
QuickBooks Training
Xero Training
Advance Excel Training

Skills You will Gain

00 Accounts opening Balance Adjustments
00 Trial balance analysis & corrections
00 Month & Year end Adjustments
00 Aged debtor & Creditor analysis
00 Aged debtor & Creditor analysis
00 Depriciation, Wages Journals
00 Control Accounts
00 Clearning Suspenese Account
00 Adjusted Trial balance
00 Management Accounts
00 Production of Year end Accounts
00 Accounts opening Balance Adjustments
00 Trial balance analysis & corrections
00 Month & Year end Adjustments
00 Aged debtor & Creditor analysis
00 Aged debtor & Creditor analysis
00 Depriciation, Wages Journals
00 Control Accounts
00 Clearning Suspenese Account
00 Adjusted Trial balance
00 Management Accounts
00 Production of Year end Accounts
00 Management Accouting Profit & Loss
00 Management Accounting Balance Sheet
00 Costing Schedules
00 Cash Flow Projections
00 Management Accounting Report Pack
00 KPI Summery Reports
00 Employee Records
00 Payments and Deduction
00 Basic Pension Schemes
00 Pay Elements & Company Reports
00 Statutory Payments
00 Generating Payslips
00 FPS, EPS , RTI Submissions
00 Setting up Starters & Leavers
00 P32 and HMRC Submissions
00 Sales Day Book
00 Purchase Day Book
00 Credit Notes
00 Debtor /Creditor Reconciliation
00 Petty Cash Reconciliation
00 Bank Reconciliation
00 VAT Calculation
00 VAT Adjustment
00 VAT Submission

INDUSTRIES YOU WILL COVER

00 Construction
00 Wholesale
00 Retail
00 Information Technology
00 Solicitor
00 Medical Surgeries
00 Dental Clinics
00 Online Business
00 Architect & More

Jobs You Can Apply For

00 Bookkeeper
00 Financial Controller
00 Junior Accountant
00 Asst. Management Accountant
00 Sr Bookkeeper
00 Credit Controller
00 Accounts Assistant
00 Accountant
00 Finance Manager
00 Accounting Clerk
00 Budget Analyst
00 Payroll Administrator
00 Payroll Clerk
00 Assistant Controller
00 Accounts Manager
00 Management Assistant

Work Placement Struture

After finishing your training, you will be given a chance of guaranteed work placement at our offices or at our external client’s office. The duration is dependent upon the training course you have opted with us.

Benefits

  • Blended learning approach with revision based clients accessible from home to give you maximum support in learning
  • Flexible one to one training sessions built around your availability, with option to choose days, timing and sessions
  • Recruitment company helping you with job hunting after training
  • Certification form certified Accounting firm
  • Specialised one to one coaching sessions for CV, Interview preparation and Job hunting tips
  • Installation of software in your laptops for practice from home
  • Covering experience requirement for all major accounting bodies

Course Contents

Final accounts

Final accounts are the last stage of financial system of an organization. It both shows financial position of the company and profitability to company, its owners and other interested parties. All the financial transactions are first recorded in journals then posted in ledger and then they are balanced and final accounts summaries them all.

Components of final accounts
  • Trading accounts
  • Profit and loss accounts/ Income statement
  • Balance sheet
  • Trading accounts

This is the first account of the final accounts. At this step gross profit and loss is calculated. On the debit side i.e. left hand side opening stock, purchases and all the direct expenses are shown.

Gross profit:

If debit side is greater than credit side, the excess amount is called gross profit. It is moved to the credit side of profit and loss accounts.

Gross loss:

Is credit side is greater than debit side; the excess credit amount is called gross loss. It is moved to the debit side of profit and loss account.

Profit and loss accounts/income statement

It the second step of final accounts. At this step net profit and net loss is calculated by the business. It takes net profit and net loss from the trading accounts; transfer all the indirect expense accounts, such as salary and wages, utility expense and advertising expense etc to the debit side and transfers all the indirect incomes such as interest earned, dividends shared and profit on sales earned on the credit side.
It basically separated our earning and expenses so that we can further process with the final accounts with least possible errors.

Balance sheet

Balance sheet is the final step of final accounts; construct to find out the financial position of the business at a particular period fiscal or annual. Balance sheets consist of three building blocks of basic accounting i.e. assets, liability and owner’s equity/owner’s capital.
Balance sheet is not an account it is a statement. There are no debit or credit sides. The left hand side of a balance sheet consists of all liabilities of the business and right hand side consists of all the assets and owner’s equity/ owner’s capital. In balance sheet of the final accounts both sides must be equal.

Training courses for final accounts at FC training

Training coursed for final accounts are designed for those who want a bright career in the accountancy industry. With this training course you will be able to run final accounts proficiently.
SAGE offers you one of the best platforms to learn accountancy like a pro. FC training will guide you and help you learn all the necessary things about final accounts. These courses and training can also be availed by people already in the industry. Moreover, FC training provide you facility to select short course on final account so that you focus can be on one point only