CPD course clarifies the accounting cycle

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Bookkeepers, especially those who can work independently because they understand the accounting cycle, are in high demand, according to the South African Accounting Academy (SAAA).

Nicolaas van Wyk, CEO of the Southern African Institute for Business Accountants (SAIBA), says his first job was as a bookkeeper at JP Botha Accountants. “It was a great experience and I learned a lot that helped me so much later in life. I just wish that I had attended more training events in my first year. I would have been a more productive bookkeeper (with less stress).”

He says an upcoming Accounting Cycle CPD course offered by SAIBA and SAAA, was especially created to help the bookkeeping community better understand the accounting cycle.

The course is offered by Sanmari Fourie CA(SA) who has worked with and trained many bookkeepers.

She says the issues with which most bookkeepers in practice struggle, are usually the basic concepts.

“I find that most things seem more complicated than they are if the basic concepts have not been mastered,” she says.

Fourie says there are few rules in accounting, but if you know the basics, everything works according to those rules. “The very first lesson of any basic Accounting (at school or in Accounting 101) is always the Accounting Equation: A = E + L (Assets = Liabilities + Owner Equity). If one understands that, everything follows that principle – but its important to have clarity on the definitions of each of the elements (Assets, Liabilities, Revenue, Expenses and Equity).

“In addition, I would say that VAT is something that causes frequent confusion and students struggle with it because they do not understand it. It’s actually very simple when you make it practical and those who have worked with it in a business can not understand why they were previously struggling so much with the theory. Its important to understand the workings of VAT in for the sums to make sense.”

The half day seminars are offered on the following dates:

Diep in die Berg (Pretoria) May 17, 2017 from: R950.00

Lord Charles Hotel (Somerset West) May 19, 2017 from: R950.00

Online webinar / recording, May 22, 2017 from: R399.00

The Wanderers Club (Johannesburg) May 23, 2017 from: R950.00

The course will benefit bookkeepers, debtors and creditors clerks that need to improve their career prospects; senior bookkeepers and 1st year accounting clerks that need a refresher course; persons contemplating a career as a bookkeeper; and non-financial managers that need an introduction to the accounting cycle.

Click here for more information and to register.