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Bookkeeping Basics: A Guide for Non-Accountants

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The seminar and training titled “Bookkeeping Basics: A Guide for Non-Accountants” is designed for small business owners, entrepreneurs, and individuals in the Philippines who need to understand the fundamentals of bookkeeping without a formal accounting background. This one-day program provides practical insights and hands-on knowledge to help participants manage their financial records effectively.

Objectives:

By the end of the seminar, participants will have a solid understanding of bookkeeping concepts and practices, enabling them to confidently maintain their business records, prepare for tax obligations, and make informed financial decisions. This training aims to empower non-accountants with the knowledge and skills needed to ensure their business’s financial health and compliance.

SessionTopic
Session 1: Understanding Bookkeeping
  • Definition and Importance of Bookkeeping
  • Difference Between Bookkeeping and Accounting
  • Overview of Financial Statements: Income Statement, Balance Sheet, and Cash Flow Statement
Session 2: Basic Bookkeeping Principles
  • The Accounting Equation: Assets = Liabilities + Equity
  • Double-Entry Bookkeeping: How It Works
  • Common Terminology in Bookkeeping
Session 3: Recording Financial Transactions
  • Types of Transactions: Revenue, Expenses, Assets, Liabilities
  • Journal Entries: How to Record Transactions
  • Introduction to Ledgers: General Ledger and Subsidiary Ledgers
Session 4: Maintaining Financial Records
  • Organizing Financial Documents: Invoices, Receipts, and Statements
  • Best Practices for Record-Keeping
  • Overview of Bookkeeping Software Options
Session 5: Managing Daily Transactions
  • Recording Sales and Purchases: Practical Exercises
  • Handling Cash and Bank Transactions
  • Understanding Accounts Receivable and Accounts Payable
Session 6: Preparing Financial Statements
  • Steps to Prepare an Income Statement
  • Creating a Balance Sheet: Assets, Liabilities, and Equity
  • Understanding Cash Flow Statements: Importance and Preparation
Session 7: Compliance and Reporting
  • Tax Obligations in the Philippines: Overview of VAT and Income Tax
  • Preparing for BIR Audits: Key Considerations
  • Filing Requirements for Small Businesses

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