Basic Working Paper Preparation
|CPD Hours:||Attendance at this seminar will secure 13 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)|
We all know how hard it is to find time to guide a first year trainee without any accounting background when they start working, so we have designed a course specifically to ensure that they will be able to contribute in an effective and efficient way. This course will provide delegates with a practical knowledge of how to prepare basic working papers for the accounting environment, while also providing them with basic Excel competencies. The purpose of this course is to teach delegates what the requirements of working papers are and how to use Excel efficiently to be able to compile basic working papers. Please note: This session does not cover auditing procedures. It is a basic course covering the compilation of accounting working papers such as a FAR, interest calculations etc. Please refer to the Junior audit simulation course if you are looking for an audit course.
By the end of this course delegates will be able to work in Excel and to compile basic working papers.
Delegates will be provided with a general ledger and a trial balance that is prepared by a client, as well as supporting documents that will help them complete the working papers. They will then need to prepare the following: PPE: Fixed asset register, residual values, calculating depreciation and profit and loss with the sale of fixed assets. Investment property: Revaluation of investment property. Investments: Investment Listing, buying and selling of listed shares and calculating profit and losses on sale of shares. Inventories: Calculating the expenses that should be allocated to inventory items and calculating the finished goods based on this allocation. Calculate the NRV of inventory. Accounts receivables: Provision for bad debts calculation, classification of debtors. Cash and cash equivalents: Performing the bank reconciliation Financial Liabilities: Calculating the split between long term and short term for disclosure purposes. Reading amortisation table to calculating interest and disclose the expense. Provisions: Assessing possible provisions and calculating the amounts to disclose. Reading and understanding contracts e.g. instalment sales agreements. We will also be covering the basics of excel in the working environment such as: Creating workbooks Understanding the Ribbon and interface Formatting and fonts to be able to create tables and headers for the working papers Text formatting Number formatting Auto fill Etc. Basic formulas and functions Using tables and styles Using shortcut keys
This session will be presented on a basic level and all first year trainees in a five-year contract without a degree will benefit.
The hosting organisation is responsible for the following: Own computers (PC or laptop) with Excel loaded onto the machine Internet Connection (Wi-Fi or 3G) with sufficient data for the day USB headset (microphone, speakers) for each delegate Webcam (external or built-in) for each delegate For the engagement activities and online tools, other devices such as the iPad and iPhone are not recommended. Please ensure that the pre-course work has been completed prior to attending the course. Please ensure that you are logged in 15 minutes prior to the start of the session.