Short Course in Basic Financial Accounting

Elevate your financial acumen and gain a competitive edge to utilise financial statements to compile tax returns. This short course in financial accounting aims to equip participants with the essential knowledge to determine accounting net profit versus the taxable income of a business. This short course is presented to enable learners to refresh, understand or develop foundational principles. 

Mode of delivery

This Short Course will be presented on The Tax Faculty’s online learning Campus. Refresh your foundational knowledge anytime from anywhere!

Duration and effort

This Short Course will be available to learners to complete at their own time and pace.

  • Video hours: 2 hours
  • Approx Reading hours: 20 hours
  • Recommend Length to complete: 2 to 4 weeks

COURSE PROGRAMME

The following modules will be covered:

  • Financial statements reports.
  • Elements of the financial statements.
  • Accrual basis of accounting.
  • Accounting records.
  • Accounting for VAT.
  • Accounting for Income Tax.
  • Balance sheet overview & Notes to the financial statements.

Outcomes:

  • Demonstrate an understanding of how Financial Statements are compiled.
  • Demonstrate an understanding of what an asset, liability, expense and income item is.
  • Demonstrate an understanding of how to use information from the Financial Statements to calculate taxable income and complete tax returns.
  • Identify the reasons for differences in the accounting net profit and the taxable income of a business.

Pre-Requisites

  • A basic understanding of income tax framework.
  • Digital literacy and numeracy.
  • A PC/Laptop with access to high speed internet.

This course is for:

  • Bookkeepers.
  • Tax Practitioners.
  • Trainee accountants/Law graduates.
  • Business Owners.

Accreditation

This course is presented as a short learning programme (SLP) by The Tax Faculty (TTF). TTF is recognised as a continuous professional development (CPD) provider by controlling bodies accredited in terms of the Tax Administration Act, 2011 (Act No 28 of 2011), and holds accreditation with the Quality Council for Trades and Occupations (QCTO) as a skills development partner (SDP) under the Skills Development Act, 1998 (Act No 97 of 1998).

Assessment and award of certificate

A number of self-assessments are included in the course. Learners are assessed via a final integrated assessment. Successful learners will receive a SLP certificate of competence issued by The Tax Faculty. In addition, this just-in-time learning programme also qualifies for 4 verifiable Tax CPD hours.

Course fee

Once-off payment

Once off immediate payment to gain access to the course in total of: R1 950.00.

*No flexibible payment plans available on this course.

Payments and cancellations

  • All required minimum payments must be made by direct EFT or by credit card before the commencement of a course. The once-off payment is required to be paid in order to gain access to start the course. 
  • Kindly note that should payment terms not be adhered to; legal action will be taken and access to the online learning platform suspended.
  • Proof of payment will be requested before access to the online platform will be communicated, should your payment not reflect on The Tax Faculty’s bank account.
  • Only written notice of cancellation will be accepted.

Conditions

For all short learning programmes (SLPs) with a seven-month or less rollout period, the following will apply:

  • If the cancellation is requested more than 10 working days prior to the course release date, no cancellation fee will be applicable.
  • If the cancellation occurs less than 10 working days prior to the course release date, a 100% cancellation fee will be applicable.
  • Students who register for a course and fail to attend will be held liable for the full course fee.
  • The Tax Faculty’s liability in the case of a course being cancelled will be limited to a refund of the course fee.
  • Students who have failed to successfully complete the course, and wishing to repeat will be charged the full course fee to repeat.

Why wait?

Are you interested in analysing tax risks in the Financial Statements and advising clients accordingly? Progress to the Professional Certificate in Accounting for Tax in Financial Statements.

Skill Level: Beginner