Bookkeeping and Basic Taxation for Non-Accountants

Our Bookkeeping Training and Basic Taxation for Non-Accountants is part of KOM Academy’s Advanced Level Training Program (ALTP). This is an understanding of basic accounting concepts, procedures, and process practically and straightforwardly. Any business, from MSMEs to large companies, will efficiently track their performance with proper bookkeeping and accounting procedures.

Bookkeeping should be done correctly because accurate bookkeeping and accounting will eventually help you plan and grow your company. In our seminar, you will find out which records you should be keeping and how to keep your business records.

Every business, whether small or large, should employ significant tools to efficiently track its performance. This can be done through proper bookkeeping and accounting. As business owners, it’s also important to be knowledgeable on the basics of the government’s inherent power to tax. In this lecture, you will understand how to account business transactions in line with the keeping of business records and their different tax implications.

Part 1

  1. Introduction
    • Accounting Definition
    • Users of Financial Accounting Information
  2. Basic Accounting Concepts and Principles
  3. Accounting Equation and the Rules of Debit and Credit and the Double Entry Bookkeeping System
  4. Accounting Cycle
  5. Common Types of Accounting Transactions and their Impact on the Accounting Equation
  6. Books of Accounts
    • Importance and use of Books of Accounts
    • Types of Books of Accounts (Journals & Ledgers)
    • Recording of Information on each Book of Accounts
  7. Basic Financial Statements and its Preparation
    • Components of the Basic Financial Statement
    • Contents and Use of each Basic Financial Statement

Part 2

  1. Introduction
    • Definition of Taxation and its purpose
    • Concept of Taxation
  2. Types of Taxes
    • Income Tax
    • Estate Tax
    • Value-Added Tax
    • Other Percentage Tax
    • Documentary Stamp Tax
    • Excise Tax
    • Capital Gains Tax
  3. Taxation under the TRAIN Law

Part 3: Workshop Proper

  1. Journalizing
  2. Posting to General Ledger/Subsidiary Ledger
  3. Preparing T-account
  4. Preparing Trial Balance and Basic Financial Statement
  5. Preparation of Income Tax Return

At the end of the training:

  1. You will gain an understanding of the basic accounting concepts, processes, and procedures – as made easy.
  2. You will be able to experience the application of bookkeeping and accounting concepts, policies, and procedures based on an actual scenario.
  3. You will appreciate the importance of proper keeping of business records and understand the basics of Philippine taxation.