The final accounts represent the entity’s clear and correct financial condition. This information is useful to management, investors, owners, and shareholders, as well as other information consumers. The accounts prepared at the final stage of the accounting cycle to illustrate the profit or loss and financial position of a business concern are known as the final accounts. The Final accounts course and the Accounts assistant training combine Future Connect and give a high-end practical experience of the complete accounting cycle you will be starting with Bookkeeping and VAT Return at the initiation of this course. After you have proper Bookkeeping skills in various Industries, the trainees move on to an intermediate level of accountancy and learn to close the books for the year-end. At this stage, the initial Trial Balances are calculated and Trainees are given a chance to attend the academic classes focusing on CIS, Control Accounts, Advanced Excel, and FRSSE. Accounts assistant training helps to understand the financial reports upon which they are based. The financial statements consist of records of cash flows, income statements, and balance sheets. Final accounts can concisely be issued when business transactions have closed. The Final accounts with the revenue and profit earned determine a company's financial position in the market. All the dealings were initially entered into a weekly and then added to the record, and finally, they were transported to the balance sheet. The financial statements of a business are prepared at the end of the accounting date, usually in the financial year.

Three main reports were generated:

• A trading account.
• A profit and loss account (revenue-expense=net income)
• A balance sheet in the Final Accounts.

Objectives Of Preparation Of Final Accounts

• • Final reports such as balance sheets help determine the status of a company on any given day.
  • To determine profit or loss arising from the operations.
  • Final accounts are prepared with the aim of assessing the profitability of the business that arises from daily operations.
  • To determine the net effect of all transactions.
  • To establish an organization's financial viability.
  • To help investors determine if more investment is required.

Final Account Course Suitable For

• • The course is suited for aspiring bookkeepers and anyone who wants to start a career in accounting.
  • New entrants into the accounting sector
  • Learners pursuing accounting qualification
  • Candidates with overseas experience
  • Course Modules
  • *Using sage as an example, the course structure is as follows:
  • (The course structure is the same for all the other software)

Skills You Will Gain

    Accounts assistant training

• Accounts opening Balance Adjustments
• Trial balance analysis & corrections
• Month & Year-end Adjustments
• Depreciation, Wages Journals
• Control Accounts
• Clearing Suspense Account
• Adjusted Trial balance
• Aged debtor & Creditor analysis
• Management Accounts

Final Words

After a final account course, the learner has the skills to calculate the perceptions of the success, assets, liabilities, and impartiality of the company, as well as a summary of its financial performance and position. The last records incorporate the pay proclamation (benefit and adversity explanation), accounting report, and income vocalization. After concluding your final account training, you will be given a chance of surefire work placement at your offices or your external patron’s offices. The duration is conditional upon the final account course you have chosen with us. It is essential to keep in mind that a final accounting course's specific gratified and depth can vary depending on the side-by-side of the course (introductory, intermediate, or advanced) and the educational organization offering it.