Certificate in Accounting Adjustments for Financial Statements [CAAFS]-Self Paced

The Certificate in Accounting Adjustments for Financial Statements is a practical course that enhances understanding of accurate financial reporting aligned with the accrual basis of accounting. Ideal for accounting assistants, junior accountants, and finance professionals.

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The Certificate in Accounting Adjustments for Financial Statements is designed to deepen learners’ understanding of period-end accounting adjustments and enhance the accuracy of financial reporting. Focused on practical applications, this course covers key adjustments such as accruals, prepayments, bad and doubtful debts, and depreciation, all essential for preparing accurate final accounts. Learners will explore how these adjustments align with the accrual basis of accounting and ensure that financial statements reflect the true financial position of an organization. This course is ideal for accounting assistants, junior accountants, and finance professionals responsible for month-end or year-end closings.

To explain the principles of accrual accounting and the necessity of adjustments for accurate financial reporting.
To develop a clear understanding of how to account for accruals and prepayments at period-end.
To introduce the accounting treatment for bad debts and the creation of provisions for doubtful debts.
To explore the purpose, methods, and recording of depreciation for tangible fixed assets.
To guide learners in incorporating adjustments into the preparation of accurate financial statements.
To promote compliance with accounting standards and ethical financial reporting practices.

M-1: Preparation of Financial Statements

M-2: Accruals and Prepayments

M-3: Bad and Doubtful Debts

M-4: Depreciation

M-1: Preparation of Financial Statements

M-2: Accruals and Prepayments

M-3: Bad and Doubtful Debts

M-4: Depreciation

Upon successful completion of this course, learners will be able to:

Apply the accrual concept to recognize income and expenses in the correct accounting period.
Record and reverse accruals and prepayments in the general ledger with clarity and accuracy.
Identify irrecoverable debts and create provisions for doubtful accounts using appropriate estimates.
Calculate and record depreciation using straight-line and reducing balance methods.
Incorporate adjustments accurately into final accounts (income statement and balance sheet).
Support the preparation of compliant and transparent financial reports for internal and external use;

This program is endorsed by International Professional Accreditation Council – Singapore [www.ipacglobal.org]

Features:
Duration: The Program offers self-paced completion with no set deadlines.
Short Video Materials: Yes
Mode of Learning: Self-Paced

Exam Method:

Number of Exams: 01
Number of Questions: 20 MCQ Questions
Duration: 30 Minutes
Total Marks: 100
Pass Mark: 50%

Assignment:

Total Assignments: 01
01 Capstone Projects
- Total Marks: 100
- Pass Mark: 50%

04 Practical Focus Module
Post Completion:
- Electronic Certificate

Adjustment Journal Proficiency
- Ability to prepare journal entries for accruals, prepayments, bad debts, and depreciation.
Period-End Closing Accuracy
- Competence in finalizing trial balances and preparing adjusted financial statements.
Depreciation Calculation Skills
- Skill in applying depreciation techniques for accurate asset reporting.
Provision and Estimation Insight
- Understanding how to estimate and provide for doubtful debts in line with accounting policies.
Accrual Accounting Application
- Capability to distinguish between cash and accrual entries to maintain accurate financial records.
Compliance and Reporting Ethics
- Awareness of the ethical and regulatory requirements that underpin accurate financial adjustments and reporting.