Accounting
Formation
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Description
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Typologie
Formation
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Méthodologie
En ligne
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Durée
3 Mois
Les Avis
Le programme
Table of contents
Introduction
- What is a firm?
- History of firms
- History of accounting
- Example of a small firm
- A workshop making wooden toys (1)
- A workshop making wooden toys (2)
- Production of large quantities of information
- First principles taught by the example
- Most of the main concepts of accounting are in the toy example
From single-entry to double-entry accounting
- Why single-entry accounting, like in the booklet of our checkbook, is insufficient
- A page to record debtors, a page to record creditors: the emergence of double-entry accounting
- The basic concept of transaction: the "atom" of activity of a firm
- Posting transactions into accounts (1): general principles, the apparent paradox of "value coming in is a debit"
- Posting transactions into accounts (2): posting simple transactions, traditional vs real time inventory control
A complete accounting cycle up to the Trial balance
- The yearly accounting cycle: journal -> accounts -> Trial Balance -> adjustments -> Income Statement & Balance Sheet
- Posting a complete cycle of journal entries (1)
- Posting a complete cycle of journal entries (2)
- The balance of each account and the Trial Balance (TB)
- Revenue accounts and Capital accounts in the TB
Adjustments to the Trial balance
- Why the TB needs to be adjusted to compute the Income Statement (IS)
- Adjustment for inventory
- Adjustment for amortization
- Provisions for bad or doubtful clients
- Prepayments and accruals
- The Income Statement and the Balance Sheet
- Extraction of the revenue accounts from the adjusted TB: the Income Statement (IS)
- Replacing in the adjusted TB all the revenue accounts with the bottom line of the IS: the Balance Sheet (BS)
- IS and BS: a higher view
General principles of accounting and miscellaneous topics
- General rules and guidelines of double-entry accounting
- Stock valuation: FIFO, LIFO and other methods
- Impact of a series of transactions on the IS and BS: a complete exercise
- Alternative way to compute the COGS: elimination of the Purchases account and of stock adjustments
- Money
- Money
- Accounting over several years
- Difference between the first accounting year, and the following years
- From one BS to the next, and the IS in between
- Accounting documents over several years
- A deeper look at the Balance Sheet
- The list of assets is fundamentally heterogeneous
- The big measures in a balance sheet: net worth, debts, capital employed, fixed assets, net fixed assets, working capital, current assets
- Investing versus leasing
- The notion of liquidity
- The value of a firm: assets minus debts, or something else?
Cash flow statement
- The "cash flow statement": reconciling the cash account evolution with the main accounting measures
- (sales, borrowings, client account, purchases, creditors, investments, etc.)
- Ratios
- Ratios and their evolution
- The Return on Capital Employed (ROCE)
- More advanced topics
- Accounting for manufacturing firms
- Make or buy decision
- Securitization
- Invisible liabilities
- Consolidation of a subsidiary company accounts
- Goodwill
- Retirement fund financed by the firm
- Book value and market value of shares of capital
- Introduction to cost accounting
- Yield management
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Accounting