1. Introduction to Bookkeeping: Students are introduced to the basic concepts and principles of bookkeeping, including the accounting equation, double-entry system, and the role of bookkeeping in financial management.
2. Financial Transactions and Recording: Students learn how to record and classify financial transactions accurately. They understand the importance of proper documentation, such as invoices, receipts, and vouchers, and develop skills in data entry and maintaining financial records.
3. General Ledger and Accounts: Students learn how to create and maintain a general ledger, which serves as the central record-keeping system for all financial transactions. They learn how to set up accounts, post entries, and reconcile accounts.
4. Financial Statements: Students gain knowledge of the key financial statements, including the income statement, balance sheet, and cash flow statement. They learn how to prepare and interpret these statements to assess the financial health of an organization.
5. Payroll and Employee Benefits: Students study the calculation and processing of payroll, including employee wages, taxes, and deductions. They learn about legal requirements, payroll software, and reporting obligations related to employee benefits.
6. Accounts Payable and Accounts Receivable: Students understand the processes involved in managing accounts payable and accounts receivable. They learn how to track and reconcile outstanding invoices, process payments, and manage collections.
7. Financial Analysis and Reporting: Students develop skills in analyzing financial data and generating financial reports. They learn how to identify trends, calculate financial ratios, and interpret the results to make informed business decisions.
8. Computerized Bookkeeping: Students gain hands-on experience with bookkeeping software, such as QuickBooks or Sage. They learn how to use these tools to streamline bookkeeping processes, generate reports, and ensure accuracy in financial record-keeping.
9. Ethics and Professional Standards: Students learn about the ethical considerations and professional standards in the field of bookkeeping. They understand the importance of confidentiality, integrity, and compliance with accounting regulations.
The assessment is done via submission of assignment. There are no written exams.
London School of International Business