PROFICIENCY CERTIFICATE IN BOOKKEEPING

Course Overview:
This course provides the fundamental knowledge and practical skills necessary for maintaining accurate financial records, preparing basic financial statements, and managing the day-to-day financial transactions of a business.

Week 1-2: Introduction to Bookkeeping

• Understanding Bookkeeping
  • Definition and Importance of Bookkeeping
  • Role of a Bookkeeper in a Business
  • Difference Between Bookkeeping and Accounting
• Basic Accounting Concepts
  • The Accounting Equation (Assets = Liabilities + Equity)
  • Double-Entry Bookkeeping System
  • Debits and Credits: Rules and Application
• Practical Exercises: Recording basic transactions using the double-entry system

Week 3-4: Recording Financial Transactions

• Sales and Purchases
  • Recording Sales Invoices and Receipts
  • Managing Accounts Receivable
  • Recording Purchase Invoices and Payments
  • Managing Accounts Payable
• Cash and Bank Transactions
  • Recording Cash Receipts and Payments
  • Bank Reconciliation: Importance and Process
  • Managing Petty Cash
• Practical Exercises: Recording various types of financial transactions in journals and ledgers

Week 5-6: Managing the General Ledger

• The General Ledger System
  • Understanding Ledgers and Posting Transactions
  • Creating and Managing a Chart of Accounts
  • Trial Balance: Preparing and Understanding
• Adjusting Entries
  • Understanding Accruals and Prepayments
  • Recording Depreciation and Amortization
  • Adjusting Entries for Period-End Closing
• Practical Exercises: Posting transactions to the general ledger and preparing a trial balance

Week 7-8: Preparing Financial Statements

• Introduction to Financial Statements
  • The Income Statement: Calculating Profit or Loss
  • The Balance Sheet: Understanding Financial Position
  • The Cash Flow Statement: Tracking Cash Movements
• Finalizing the Books
  • Closing Entries and Preparing for a New Accounting Period
  • Creating Basic Financial Reports
  • Ensuring Accuracy and Consistency in Financial Records
• Practical Exercises: Preparing and analyzing basic financial statements

Week 9-10: Introduction to Payroll and Taxation

• Payroll Accounting
  • Calculating Gross and Net Pay
  • Managing Employee Deductions and Benefits
  • Recording Payroll Transactions
• Basics of Taxation
  • Understanding VAT, Income Tax, and Other Business Taxes
  • Preparing and Filing Tax Returns
  • Recording Tax Payments and Liabilities
• Practical Exercises: Handling payroll transactions and basic tax calculations

Week 11-12: Capstone Project and Professional Development

• Capstone Project
  • Prepare a Complete Set of Books for a Simulated Business
  • Reconcile Accounts and Prepare Financial Statements
  • Present and Review Financial Records
• Career Pathways in Bookkeeping
  • Building a Portfolio of Bookkeeping Work
  • Networking and Job Search Strategies in Finance and Accounting
  • Continuing Education and Certification Opportunities (e.g., Certified Bookkeeper)
• Practical Exercises: Final project development and career planning
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Final Week: Course Review and Assessment