Essential Bookkeeping Skills for Financial Management

This course is needed to meet the growing demand for skilled individuals capable of managing financial records, supporting business compliance, and facilitating career growth in the finance and accounting sectors. It not only addresses existing workforce gaps but also empowers learners to pursue advanced opportunities or entrepreneurial ventures.

4.3 (59 rating)
121 students
language
English

  • Up to 70% SkillsFuture Subsidies available
  • SkillsFuture Credit, PSEA and NTUC UTAP
  • Beginner Friendly, no background required
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  • 3 Days
    9:00 AM to 4:00 PM
WSQ Singapore Workforce Skills Qualifications

course learning outcome

  • Essential Skill for Business Operations
  • tik icon Bookkeeping is the backbone of any business's financial management. Accurate financial records are crucial for budgeting, decision-making, and regulatory compliance. Many small and medium enterprises (SMEs) and startups cannot afford full-fledged accountants and rely on staff with basic bookkeeping skills to manage daily transactions.
  • Compliance with Financial Regulations
  • tik icon Governments and regulatory bodies require businesses to maintain accurate records for tax reporting, audits, and financial transparency. Many businesses face challenges due to improper record-keeping, leading to penalties or non-compliance issues. This course ensures learners understand and meet these requirements.
  • Workforce Upskilling and Employability
  • tik icon With increasing automation and digitalization in accounting, foundational knowledge is still critical for managing software tools and interpreting financial data. Job seekers in finance-related roles require these fundamental skills to secure entry-level positions in a competitive job market.
  • Addressing Skills Gaps in Various Sectors
  • tik icon Sectors such as retail, hospitality, and non-profits often need staff who can manage basic accounting tasks alongside other responsibilities. By equipping individuals with bookkeeping skills, organizations can streamline operations without relying entirely on external consultants.

Course Modules

  • Introduction to Bookkeeping and Accounting Concepts
    You will build a foundation in core accounting principles and their real-world application. Covering the accounting equation, debits and credits, and recording sales, purchases, and cash transactions in ledger accounts, the module concludes with preparing a trial balance.

  • Books of Original Entry
    You will learn how transactions are captured through key business documents and recorded in daybooks, cash books, and journals. The module also covers how accounting software automates this process, posts transactions to ledgers, and explores early payment discounts and the imprest system.

  • Bank Transactions and Reconciliation
    You will evaluate payment methods — cheques, bank transfers, and credit cards — and their risks and benefits. You will update cash books for bank charges, direct debits, and dishonoured cheques, then prepare a bank reconciliation statement to resolve discrepancies between cash book and bank statement balances.

  • Accounting for Payroll
    You will calculate gross and net pay using time-based and incentive schemes, applying CPF and statutory deductions including CDAC, ECF, MBMF, and SINDA. The module concludes with recording payroll expenses and employer contribution liabilities accurately in the ledger.

  • Control Accounts
    You will learn how control accounts summarise financial data and help detect errors across trade receivables and payables. You will prepare, reconcile, and correct control accounts against subsidiary ledgers — manually and using accounting software — to maintain accurate financial records.

  • Financial Statements of a Sole Trader
    You will compute depreciation using straight-line and reducing balance methods, then apply adjustments for accruals, prepayments, and irrecoverable debts. The module culminates in compiling an income statement and statement of financial position, integrated with all adjustments and a basic cash flow summary.

KNOWLEDGE YOU WILL GAIN

Core Bookkeeping & Accounting Fundamentals
Financial Record Management & Accuracy
Business Compliance & Regulatory Awareness
Practical Use of Accounting Tools & Systems
Financial Analysis & Decision Support

Course Fees and DURATION

Course Timings:

Day 1: 8:30 am to 5.30 pm

Day 2: 8:30 am to 5.30 pm

Day 3: 8:30 am to 5.30 pm
Assessment: 3hrs

Full Course Fee: $654

After SSG Funding (Singaporeans and PRs ≥ 21 years old): $354

After SSG Funding (Singaporeans ≥ 40 years old): $234

Entry Requirement

  • tik icon Be able to read, write and speak English at WSQ WPL Level 3-4
  • tik icon Be able to read from a computer monitor and see from a distance
  • tik icon Possess basic skills in operating a computer
  • tik icon Be truthful and honest
  • tik icon Have sense of duty and reponsibility on the job
  • tik icon Be disciplined and able to follow instructions when given

Upcoming Course Schedule

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