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Maintaining Financial Records Course

Maintaining Financial Records Course

Duration: 6 Months

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Learning Outcomes

Who is the program for?

• To develop learners’ ability to maintain complete and accurate financial records in compliance with accounting standards
• To introduce the preparation of financial statements from trial balance data
• To equip learners with skills in maintaining fixed asset registers and accounting for depreciation
• To provide understanding of accruals, prepayments and other period-end adjustments
• To prepare learners for roles in finance departments requiring accurate financial record maintenance

Upon completion, learners will be able to:

1. Maintain accurate and complete financial records using double-entry principles
2. Prepare financial statements including income statements and statements of financial position
3. Account for depreciation and maintain a fixed asset register
4. Apply accruals and prepayments and other period-end adjustments
5. Perform bank reconciliations and control account reconciliations

Module 1: Review of Double-Entry Bookkeeping and the Trial Balance
  • Recap of double-entry bookkeeping principles
  • Preparing and extending the trial balance
  • Extended trial balance (ETB) and adjustments columns
  • Identifying errors and using suspense accounts
  • Distinction between capital and revenue expenditure
Module 2: Period-End Adjustments
  • Accruals and prepayments in income and expenditure
  • Bad debts and allowances for doubtful debts
  • Closing inventory and its effect on profit
  • Depreciation: straight-line and reducing balance methods
  • Disposal of non-current assets
Module 3: Non-Current Assets and the Asset Register
  • Definition and classification of non-current assets
  • Capital expenditure versus revenue expenditure
  • Maintaining a fixed asset register
  • Accounting for additions, improvements and disposals
  • Revaluation of assets
Module 4: Preparation of Financial Statements
  • Income statement (profit and loss account) preparation
  • Statement of financial position (balance sheet) preparation
  • Financial statements for sole traders and partnerships
  • Appropriation accounts for partnerships
  • Introduction to company financial statements
Module 5: Reconciliations and Control
  • Bank reconciliation: purpose and procedure
  • Sales ledger and purchases ledger control accounts
  • Reconciling control accounts with subsidiary ledgers
  • VAT reconciliation and returns
  • Introduction to computerised accounting and record-keeping software
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Application Procedure For National Students

Counseling
Students should submit a request with these links and one of our admissions officers will contact you for counseling and address all your queries.

Application
After submitting the request form, Students should submit the application form. Click here to fill out the application form.

Offer Letter
Once the application is submitted, ASTI will issue an offer letter and the student ID card.

Campus Tour
Students will be invited to ASTI for a campus tour so that students can experience the different labs, classrooms, libraries, auditorium, and more.

Registration
Students should pay the registration fees to block their seats.

Enrollment
Once the registration is done, learners can enroll and start learning #from the UAE Leading Technical Training Institute, ASTI.

Application Procedure For International Students

E-Counseling
Learners should submit a request with these links, and one of our admissions officers will contact you to provide E-Counseling and address all your queries.

Application
After submitting the request form, Students should submit the application form. Click here to fill out the application form.


Offer Letter
An offer letter will be issued by ASTI once the information provided in the application form has been verified.

Interview
An interview will be conducted with learners to discuss in brief the process, fee structure, and program you’re enrolling in.

Registration
After the interview, learners need to pay the fee in order to continue with the registration process. Payment details will be shared with you by our admission officers. Register a safe payment of fees using a credit or debit card, or choose any other method of payment available.

Visa Application
Once the payment is received, ASTI will send a visa application form, which learners need to fill out to proceed with visa processing.

Enrollment
A visa copy will be shared with learners, and learners can enroll and start learning from ASTI.

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