Training - General Accounting - Fundamentals

How long does the training course last?

32,50 hours(s)

In which language(s) is the training course taught?

When will the next session take place?

Who is organising this training course?

Fondation créée en 2015 par la Chambre de Commerce et l’Association des Banques et Banquiers Luxembourg (ABBL), la House of Training est un organisme agréé de formation professionnelle continue qui s'engage à contribuer activement à la compétitivité et à l'attractivité du Luxembourg en développant les compétences de ceux qui font vivre son économie.

Who is the training course aimed at?

This course is designed to help people without an accounting background to easily learn and understand accounting concepts.

What are the aims or the skills being targeted?

Upon successful completion of this course, the participant should be able to:

Understand the principal components of annual accounts (Balance Sheet and Profit and Loss Account) and their purposes

What does the training course cover?

Accounts and how they work
Classification of accounts

Profit and Loss Account accounts (expenses and income)
Balance Sheet accounts (assets, liabilities and equity)

The main accounting principles and concepts

Accounting entity
Accruals, realisation, revenue recognition
Consistency
Cost
Going concern
Matching
Materiality
Money measurement
Prudence

The concept of accrued and deferred items
The journal and the ledger
The trial balance
VAT – a brief overview
Adjusting and closing entries

Finding and adjusting for errors
"Closing the books"

The standard chart of accounts
The annual accounts

Legal requirements
Contents of the Balance Sheet
Contents of the Profit and Loss Account
Contents of the Notes to the Accounts
The directors’/managers’ report
The auditor’s report
The allocation of results
Other information

Approval of accounts
Filing of accounts in the Commercial Register

What will you receive at the end of the training course?

The course ends with a written exam. Successful completion of the exam is sanctioned by a certificate of success issued by the House of Training and cosigned by the "Ministère de l'Education nationale, de l'Enfance et de la Jeunesse".