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Day 1 (COA)

Accounting Basics

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Saleh Muhammed Saki
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8 views24 pages

Day 1 (COA)

Accounting Basics

Uploaded by

Saleh Muhammed Saki
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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TRAINING ON

PRACTICAL
ACCOUNTS & FINANCE

Instructor: Saleh Muhammed Saki


Mentor of Accounting Management System
Basic functions of an Accountant
• Daily transaction entries
• Record keeping of purchase & sales bill in purchase & sales register
• VAT return filling
• TDS deduction on payment & TDS return filling
• Daily transaction with bank (deposit, payment, opening of LC/TT etc.)
• Salary Sheet preparation & payment
• Preparation of bank & cash reconciliation statement
• Collection from customers & payment to vendors
• Inventory, receivable & payable management
• Income tax & VAT return filling
• Preparation of projected, provisional & actual financial statements
• Preparation of weekly/ monthly/ annual reports for management
• Correspondence to management, inter department & outsiders
• Coordinate internal audit, external audit & other inspections
• Registration, timely report submission & renewal of various govt. & non – govt. entities.
Basic Knowledge & Skills
Primary Requirements:
• Accounting Knowledge (Accounting Entries, Vouchers, Day Book, Ledger, Trial Balance,
Balance Sheet, etc.)
• Accounting Software Management (Bookkeeping, Inventory Management, Reports, etc.)
• Local Tax & rules (Value Added Tax, Income Tax, Custom Duty, etc.)
• Banking transaction system (Deposits, Cheque payments, TT payments, LC opening &
payments, Bank Statements, etc.)
• Financial Reporting (Preparation of financial statements, management reports, etc.)

Secondary Requirements:
• Learning Attitude
• Update with recent development
• Knowledge of uses and application of various functions of Microsoft Excel
• Knowledge of Email & Internet
• Communication & correspondence skills
Basic Knowledge & Skills
Primary Requirements:
• Accounting Knowledge (Accounting Entries, Vouchers, Day Book, Ledger, Trial Balance,
Balance Sheet, etc.)
• Accounting Software Management (Bookkeeping, Inventory Management, Reports, etc.)
• Local Tax & rules (Value Added Tax, Income Tax, Custom Duty, etc.)
• Banking transaction system (Deposits, Cheque payments, TT payments, LC opening &
payments, Bank Statements, etc.)
• Financial Reporting (Preparation of financial statements, management reports, etc.)

Secondary Requirements:
• Learning Attitude
• Update with recent development
• Knowledge of uses and application of various functions of Microsoft Excel
• Knowledge of Email & Internet
• Communication & correspondence skills
Various types of
Business Organizations
in Bangladesh
Manufacturing Business
Business Process of Manufacturing Business
Trading Business
Business Process of Trading Business
Service Business
Business Process of Service Business
Non – Profit Organization
Business Process of Non – Profit Organization
Different Types of Organization in BD
Different Business Activities of Organizations
Departments of Organizations
Chart of Accounts
A chart of accounts (COA) is a financial organizational tool that
provides a complete listing of every account in the general
ledger of a company, broken down into subcategories.

 It is used to organize finances and give interested parties,


such as investors and shareholders, a clearer insight into a
company’s financial health.

 To make it easier for readers to locate specific accounts, each


chart of accounts typically contains a name, brief
description, and an identification code.
Components of COA
A organizational COA includes all of the following components:
 Assets
 Liabilities
 Revenues
 Expenses
 Shareholders' Equity
Contents of COA
A organizational COA must include following criteria for each account:
 Number
‒ Assets – starting from 1
‒ Liabilities - starting from 2
‒ Equity - starting from 3
‒ Revenues - starting from 4
‒ COGS - starting from 5
‒ Expenses - starting from 6
‒ Other / Non-operating Income & Expenses - starting from 7

 Name
 Description
Basic COA According to
GAAP
Standard COA
Guideline to Create Proper
COA for any Organization
THANK YOU!!

Any Questions?

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