Control Accounts Training in UK- Year End Adjustment Course

Overview

Control Accounts are summary accounts in General Ledger. Control Accounts & Year End Adjustments represent a pivotal and vital stage in the Preparation of Financial Statement. These adjustments are performed to inculcate Financial Standards such as FRS and IRFS provisions into the Financial Statements. These adjustments are performed as part of the Period End Process (Month End or Year End). These adjustments / journal entries ensure that the Financial Statements represent true and fair view of the Company Financial Performance and Financial Position.

This is a Highly Technical Process and is usually performed by Skilled Semi Senior Accountants and Accountants

At Centre of Accountancy Careers & Training Ltd we aim to offer a Training Solution that is Flexible and based on Current Industry Requirement.

The program is delivered by Qualified Chartered Accountant that have years of experience in the industry. The approach we take to train our students is Role Play/ Hands on Practical Training. The Role Play means that the student would assume the role of (Semi Senior Accountant, Accounts Assistant) and actually perform the role using the Accounting Software. The Role play ensures that the student is Job Ready after completing the training program.

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WHO IS IT FOR

Anyone who

Have experience in basic accounting / bookkeeping
Have qualification but lack practical skills
Or experience from abroad but lack UK based skills and experience

CONTENT

Understanding the Control Accounts Adjustments
Preparation of Year End Journals from source documents
Posting Yearly Journal Entries
Fixed Assets, Depreciation, Accruals, Prepayments Adjustments.
Reconciliation of Debtors & Creditors Control Accounts with the Subsidiary Ledgers (Sales Ledger and Purchases Ledgers)
Cost of Sales and Stock Adjustments and Reconciliation
Reconciling Balance Sheet Adjustments such as Wages Control Account, PAYE Control Account, VAT Control Accounts, Director Loans Account, Cash and General Loans etc.
Reconciliation and Clearing of the Suspense Accounts
Preparation of Bad Debt provision
Dividends Provision
Maintaining Fixed Asset Register
Documenting Changes to the Fixed Asset Register e.g. Disposals, Additions and Depreciations and Accumulated Depreciation.
Data mapping and exporting procedures
Preparation of Initial Trial Balance
Preparation of Financial Statements from the Final Trial Balance.
Running the year end procedures in Sage 50 Accounts to close the ﬁnancial year and start a new financial year