Financial Accounting – Level 1


  • Course Code: AFB104A
  • Duration: 4 days
  • Fee: £2095


The Cash Budget

  • Why should managers understand accounting?
  • Accounting concepts
  • Timings of receipts and payments
  • Calculation of the gross profit and gross profit margin

Introduction to the Statement of Profit and Loss

  • Measuring profit
  • Double-entry bookkeeping
  • Types of account
  • Trial balance
  • Capital versus revenue expenditure/income
  • Calculating the cost of sales

Balancing the Basics

  • Assets and liabilities
  • The statement of financial position
  • Accruals and prepayments

Accounting for Depreciation and Bad Debts

  • The straight-line method
  • The reducing-balance method
  • Disposals of non-current assets
  • Bad and doubtful debts
  • Uses and limitations of the statement of financial position

Target audience

This finance crash course is suitable for:

  • Those who wish to understand the implications of decisions made across a range of financial accounting issues.
  • Those who wish to develop the ability to analyze, interpret, and question the accounting information they may encounter in a business context.
  • Those who wish to acquire a sound appreciation of accounting and finance in order to communicate and succeed in the business world.
  • Non-accounting staff who desire a practical introduction to the fundamentals of financial accounting.

Learning outcomes

Upon completion of this financial literacy workshop, you will be able to understand:

  • The purpose of accounting.
  • Why non-accountants need to understand accounting.
  • The basic terminology of business transactions.
  • How to prepare a cash budget.
  • The gross profit margin of a product and business.
  • The difference between cash and the profits of a business.
  • That a set of financial statements can be prepared from data included a trial balance.
  • The difference between revenue and capital expenditure and the significance of the distinction.
  • How to prepare a simple statement of profit or loss.
  • The purpose of a statement of financial position.
  • The assets and liabilities of a business.
  • What an accrual and a prepayment are and how to account for them.
  • How to prepare a statement of financial position for a simple business.
  • Why non-current assets need to be depreciated.
  • How to use the straight-line and the reducing-balance methods of providing for depreciation.
  • Why we need to provide for bad and doubtful debts.
  • How to prepare a final adjusted statement of profit or loss and statement of financial position.
  • Some of the limitations of a statement of financial position.


  • 24 hours of classroom-based training
  • Apple iPad
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Last updated September 23, 2018
This course is Campus based
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Oct 8, 2019
2,095 GBP
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