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This training is offered in the form of face-to-face training.
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General Accounting - Fundamentals - Module 1

Accounting

Description

Objectives

Upon successful completion of this course, the participant should be able to:

  • Understand the principal components of annual accounts (Balance Sheet and Profit and Loss Account) and their purposes

Programme

Accounts and how they work

Classification of accounts

  • Balance Sheet accounts (assets, liabilities and equity)

  • Profit and Loss Account accounts (expenses and income)

The main accounting principles and concepts

  • Accounting entity

  •  Accruals, realisation, revenue recognition

  • Consistency

  • Cost

  • Going concern

  • Matching

  • Materiality

  • Money measurement

  • Prudence

The concept of accrued and deferred items

The journal and the ledger

The trial balance

VAT – a brief overview

Adjusting and closing entries

  • Finding and adjusting for errors

  • “Closing the books”

The standard chart of accounts

The annual accounts

  • Legal requirements

  • Contents of the Balance Sheet

  • Contents of the Profit and Loss Account

  • Contents of the Notes to the Accounts

  • The directors’/managers’ report

  • The auditor’s report

  • The allocation of results

  • Other information

Approval of accounts

Filing of accounts in the Commercial Register

Target audience

This course is designed to help people without an accounting background to easily learn and understand accounting concepts

Conditions

Course Material

Please note that for environmental reasons no paper version of the training material will be provided for your training. The course material can be downloaded free of charge via your portal before the start of the course (download the Client Portal User’s Guide here). You will be able to view it on the screen of your mobile device or print it if necessary. If your registration has been made by a training manager of your company please contact him/her so that he/she can give you access to it or send it to you.

Certificate

At the end of the training, the participants will receive a certificate of participation delivered by the House of Training.

Location
Chambre de Commerce Luxembourg
7, rue Alcide de Gasperi
L-1615 Luxembourg
Luxembourg
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