Practical Accounting Software (Peachtree) Training with IFRS Applications
This Practical Accounting Software (Peachtree) Training with IFRS Applications is an intensive, instructor-led online program. It moves beyond simple data entry, focusing on setting up a reporting system that satisfie...
Course Overview
This Practical Accounting Software (Peachtree) Training with IFRS Applications is an intensive, instructor-led online program. It moves beyond simple data entry, focusing on setting up a reporting system that satisfies International Financial Reporting Standards (IFRS). Participants will learn to handle the full accounting cycle—from chart of accounts customization to the generation of IFRS-compliant financial statements.
Key Learning Outcomes
- By the end of this course, participants will be able to: 1. Configure Peachtree/Sage 50 specifically for an IFRS reporting environment. 2. Apply IFRS 15 (Revenue from Contracts) and IFRS 16 (Leases) concepts within the software modules. 3. Manage complex inventory systems using IFRS-compliant valuation methods (IAS 2). 4. Execute month-end and year-end closing procedures including depreciation of PPE (IAS 16). 5. Generate Statement of Financial Position and Statement of Comprehensive Income directly from the system. 6. Perform advanced bank reconciliations and VAT/Tax filings in line with Ethiopian tax laws.
Requirements
• Prerequisites: Basic understanding of accounting principles (Debit/Credit) and familiarity with Microsoft Windows. • Hardware: A laptop/PC with at least 8GB RAM and 5GB free disk space. • Software: Sage 50/Peachtree installed (Trial version provided for students). • Connectivity: Reliable internet for live streaming and screen sharing.
Course Curriculum
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Module 1: IFRS Framework & Software Initialization Topic 1: Overview of IFRS for SMEs vs. Full IFRS in Ethiopia. Topic 2: Installing and setting up a new company. Topic 3: Practical: Designing an IFRS-compliant Chart of Accounts (Grouping assets/liabilities by liquidity/maturity). Topic 4: User security and role-based access control.
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Module 2: Managing the Supply Chain (IAS 2 & IFRS 15) Topic 1: Vendors & Purchases: Setting up vendors, purchase orders, and receiving inventory. Topic 2: Customers & Sales: Revenue recognition principles; managing credit limits and receivables. Topic 3: Inventory Management: Setting up stock items, assemblies, and adjustments under IAS 2.
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Module 3: Fixed Assets & Depreciation (IAS 16) Topic 1: Recording the acquisition of Property, Plant, and Equipment (PPE). Topic 2: Setting up automated depreciation methods (Straight-line vs. Reducing Balance). Topic 3: Handling asset disposals and impairments within Peachtree.
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Module 4: Cash Management & Financial Operations Topic 1: Automated Bank Reconciliation. Topic 2: Managing Petty Cash and Multi-currency transactions (IAS 21). Topic 3: Practical: Handling VAT (Value Added Tax) and Withholding Tax calculations.
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Module 5: Payroll & Human Resources Topic 1: Setting up Employee defaults and pay levels. Topic 2: Calculating Ethiopian Income Tax (Pension, Taxable Income). Topic 3: Generating payroll journals and pay stubs.
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Module 6: IFRS Reporting & Finalization Topic 1: Adjusting Entries: Prepayments, Accruals, and Provisions (IAS 37). Topic 2: Generating the Statement of Financial Position and P&L. Topic 3: Customizing reports for Management vs. External Auditors. Topic 4: Year-end closing procedures and data backup.
Student Voices
Sarah Jenkins
"The best investment I have made for my career. The flexibility allowed me to study while working full-time, and I secured a promotion two months after receiving my certificate."
David Chen
"The expert tutors provided invaluable real-world insights that you simply don't get in standard academic courses. Highly recommended for professionals."