Course Description:

This workshop will focus on revision of topics within Accounting SEC Syllabus 2024. It will target mainly the requirements of the exam structure and the ability to work exam questions while applying the course participants’ knowledge in the subject.

Course Structure:

This workshop will focus on the following topics:

• Statement of Profit or Loss and Statement of Financial Position with adjustments
• Incomplete records for Sole Trader
• Accounting for accruals and prepayments
• Allowance for Depreciation
• Irrecoverable Debts and Allowance for Doubtful Debts
• Cash Book and Bank Reconciliation Statements
• Control Accounts
• Accounting Concepts
• Accounting Ratios
• Departmental Accounts
• Manufacturing Accounts

Target Audience:

Students preparing to sit for O Level Accounting MATSEC SEC exam.

Learning Outcomes:

At the end of the three day workshop course participants should be able to:

• Apply the accounting concepts to accruals and prepayments, depreciation and allowances for receivables and record the end of period adjustments when preparing the relevant accounts and the financial statements.
• Prepare the statement of profit or loss and the statement of financial position of a sole proprietor from a trial balance and the end of period adjustments.
• Classify costs as direct or indirect costs and prepare a manufacturing account to calculate the cost of production.
• Prepare the financial statements of a sole proprietor from incomplete information, and the net profit of a business from a statement of affairs using the accounting equation.
• Evaluate the business performance and financial position for the various users of financial statements and prepare departmental profit statements.
• Prepare a three-column cash book and reconcile the bank account in the cash book with the bank statement.

Prerequisites:

Accounting knowledge in preparation for O Level Accounting MATSEC SEC exam.

Trainer:

Ms Karen Galea, Accounting and Economics teacher, St. Monica School Gzira

Karen Galea is a secondary school teacher with 25 years experience teaching Accounting and Economics to Years 9, 10 and 11 students at St. Monica School Gzira. She holds a Bachelor of Arts in Management and a Post Graduate Certificate in Education in Business Studies. Karen Galea also has experience in Management Consultancy which she gained whilst working as a Trainee Management Assistant within Management Systems Unit. She also has a passion for music and this led her to further her studies in Pianoforte playing and achieve a Licentiate of the London College of Music.