Financial Accounting Fundamentals Training Course

The Financial Accounting Fundamentals Training Course is a professionally structured program designed to provide participants with a solid and disciplined understanding of financial accounting principles and practices. Offered by Geneve Institute of Business Management, the course focuses on the fundamental concepts that govern the recording, classification, and reporting of financial information within organizations. It introduces accounting as a formal language of business used to communicate financial performance and position to internal and external stakeholders. The program emphasizes accuracy, consistency, and compliance with recognized accounting standards, while supporting informed financial decision-making. This course is intended to build confidence in reading, preparing, and interpreting basic financial statements within a controlled and professional framework.

Target Group

• Junior accountants and accounting staff seeking to strengthen their foundational knowledge of financial accounting principles and terminology.

• Non-financial managers and supervisors who require a clear understanding of financial statements for operational and managerial purposes.

• Finance and administration professionals involved in budgeting, reporting, or financial coordination activities.

• Business owners and entrepreneurs who need structured insight into financial records and organizational financial performance.

• Professionals transitioning into accounting or finance-related roles within public or private sector organizations.

• Graduates and early-career professionals seeking formal grounding in financial accounting fundamentals.

Objectives

• To provide participants with a clear understanding of the purpose and scope of financial accounting.

• To develop the ability to recognize, record, and classify basic financial transactions accurately.

• To enhance understanding of the structure and content of core financial statements.

• To strengthen awareness of accounting principles, assumptions, and standard practices.

• To support informed interpretation of financial information for managerial and reporting use.

• To promote disciplined financial recordkeeping aligned with professional accounting standards.

Course Outline

Foundations of Financial Accounting

• Purpose and Scope of Financial Accounting

  • Role of financial accounting in recording and reporting organizational financial activities.

  • Importance of financial information for internal and external stakeholders.

  • Relationship between accounting information and business decision-making.

• Accounting Principles and Concepts

  • Fundamental accounting assumptions governing financial reporting.

  • Key accounting principles ensuring consistency and comparability.

  • Qualitative characteristics of reliable and relevant financial information.

Accounting Cycle and Transaction Processing

• Identification and Analysis of Transactions

  • Recognition of financial transactions affecting assets, liabilities, and equity.

  • Classification of transactions according to accounting rules and standards.

  • Impact of business activities on financial records.

• Double-Entry System and Journals

  • Structure and logic of the double-entry bookkeeping system.

  • Recording transactions through journal entries in chronological order.

  • Maintaining accuracy and balance within accounting records.

Ledger Accounts and Trial Balance

• Ledger Accounts and Posting

  • Purpose and structure of general ledger accounts.

  • Posting journal entries to ledger accounts systematically.

  • Monitoring account balances for accuracy and completeness.

• Trial Balance and Adjustments

  • Preparation and purpose of the trial balance.

  • Identification of necessary adjustments at the end of the accounting period.

  • Effect of adjustments on financial statement accuracy.

Preparation of Financial Statements

• Statement of Financial Position

  • Classification and presentation of assets, liabilities, and equity.

  • Relationship between ledger balances and balance sheet figures.

  • Financial position reporting at a specific point in time.

• Income Statement

  • Recognition and presentation of revenues and expenses.

  • Measurement of profit or loss for an accounting period.

  • Link between operating activities and financial performance results.

Financial Reporting and Professional Responsibility

• Financial Reporting Standards

  • Overview of commonly applied financial reporting standards.

  • Importance of compliance in financial statement preparation.

  • Role of standards in ensuring transparency and comparability.

• Ethics and Accountability in Accounting

  • Professional responsibility in preparing and presenting financial information.

  • Ethical behavior and integrity in financial reporting processes.

  • Accountability toward stakeholders relying on financial statements.