Accounting

Accounting for Accounts Clerk training is designed to prepare candidates for entry- level position in the job market and to learn the fundamental accounting principles and to apply them methodically in future studies and at work.

Benefits of the Accounts Clerk Training:

• The candidate will learn in a work-like environment and will be assigned projects by the instructor – like in a real accounting job.
• No experience needed as full support and training provided.
• The candidate is trained with basic math, computer and accounting skills which you will put into practice through a hands-on project using Excel and accounting software – Quickbooks.
• The candidate will be prepared for an entry-level job in accounting, such as Accounts Clerk, Accounts Receivable, Accounts Payable, Payroll Clerks, Book Keeper, Junior Accountant and other related duties.
• Candidates who are already employed will now be more efficient in their day to day work.

The following topics are covered during the training:

• Company Formation including application process.
• Appointment and resignation of directors, shareholders, secretary and transfer of shares.
• Opening of Company Bank Account.
• Filing of purchase and sales invoices and keeping up to date with filing procedures.
• Basic Journal entries and implication on ledgers.
• Posting of sales and purchase invoices on excel and on Accounting Software-Quickbooks
• Vat Registration – Legal Requirements
• Monthly and Quarterly VAT Calculation and Return to the MRA.
• Calculation of Payroll including issuing of payslips, monthly NPF/NSF Return, PAYE.
• TDS and steps involved for calculation and monthly return.
• Corporate Annual Income Tax Return and Computation of Chargeable Income and Tax Computation.
• Statutory filing to Companies Division- Annual Return, No Change Return, Financial Summary and Audited Financial Statements.

Target Audience:

• Candidates with no accounting experience
• School Leavers (SC & HSC)
• Graduates
• ACCA, CIMA, ISCA and ACA Students
• Those who are working or intend to start a career in accounting and finance

The training is design to candidates who have completed the Accounts Clerk Training and anyone who works as Accounts Clerk and aspiring for a higher position.

Benefit to more than 30 % discount after completion of Accounts Clerk Training when you enroll for Advanced Technical Training

EXTENDED TRIAL BALANCE- JOURNALS, & PROFIT AND LOSS, BALANCE SHEET

COMPLEX JOURNAL ENTRIES- ACCRUALS, PREPAYMENTS, DEFERRED INCOME

INTER COMPANY ACCOUNTS

THE ADVANCED PAYMENT SYSTEM

VAT CALCULATION- CASH AND ACCRUALS BASIS

VAT RETURN- ZERO RATED, EXEMPT SUPPLIES, EXEMPT BODIES

FOREX- FOREIGN EXCHANGE. GAIN OR LOSS ON EXCHANGE

ANALYSIS OF CORPORATE TAX RETURN

RESPONSIBILITIES OF ACCOUNTS CLERK

ACCOUNTANT, DIRECTORS, SHAREHOLDERS AND SECRETARY,

ANALYSIS OF FINANCIAL AND ANNUAL REPORT

CASE STUDY C

UNDERSTANDING THE BASIC FUNDAMENTALS AND PRACTICAL APPROACH TO AUDITING

The training is design to candidates who have completed the Accounts Clerk Training and anyone who works as Accounts Clerk and aspiring to work in an Audit firm

Benefit to more than 30 % discount after completion of Accounts Clerk Training when you enrol for Audit Training

CLIENT ACCEPTANCE AND REGULATIONS

MEETING PROCEDURES WITH AUDIT TEAM AND PARTNER

APPLICABLE LAWS AND REGULATIONS TO THE CLIENT

SIGNED COMPETENCE FORM BY ALL TEAM MEMBERS

UNDERSTANDING THE CONCEPT OF MATERIALITY

PLANNING ANALYTICAL PROCEDURES

PERFORMING GENERAL RISK ASSESSMENT PROCEDURES

UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT

UNDERSTANDING THE PLANNED AUDIT APPROACH

CONSIDERING THE USE OF CATs FOR TESTING

PERFORMING THE IT GENERAL CONTROL

PLANNING, STRATEGY AND RISK ASESSMENT PROCEDURES

TESTING THE OPERATING EFFECTIVENESS OF CONTROLS

PERFORMING THE SUBSTANTIVE TESTING

REASSESSING MATERIALITY TO ASSESS THE IMPACT

MANAGEMENT LETTER TO CLIENT

OBTAINING LETTER OF REPRESENTATION FROM MANAGEMENT

REVIEWING AND ISSUING OF AUDIT REPORT

A PRACTICAL APPROACH TO PAYROLL LEGISLATION AND HUMAN RESOURCE

Workers’ Rights Act and Remuneration
Regulations- Highlights related to payroll.
Calculation Rates (Daily, Hourly, Sunday, Public Holiday)
Full time v/s Part time work
Payroll Elements specifics
Mandatory Employee information
Employee Declaration Form
Taxable Emoluments
Calculation formulae i.e PAYE, CSG, NSF and PRGF
End of Year Bonus Calculation Method
Payroll Verification and Analysis Methods
Employee data – Data Protection Act
Minimum Wage/Wage Type
Monthly and Yearly Returns to MRA
& Salary increments v/s Wage type
Salary dues on termination and resignation
Essentials of a payroll software