Basic Accounting Fundamentals
Master the essential accounting principles and practices tailored for the Philippine business environment
Course Overview
Our Basic Accounting Fundamentals course is designed specifically for individuals who are new to accounting or wish to formalize their existing knowledge within the Philippine context. This comprehensive program covers the essential principles, practices, and regulations that form the foundation of accounting in the Philippines.
Throughout this 8-week course, you'll build a solid understanding of bookkeeping procedures, financial statement preparation, and basic taxation requirements specific to Philippine businesses. The curriculum incorporates practical exercises based on real-world scenarios, allowing you to apply theoretical concepts to actual business situations.
Whether you're a small business owner looking to better understand your finances, an employee seeking to expand your professional skill set, or a student preparing for a career in accounting, this course provides the fundamental knowledge needed to confidently handle basic accounting tasks in accordance with Philippine accounting standards.
No Prior Experience Needed
Designed for beginners with step-by-step instruction on all fundamental concepts.
Philippine-Specific Content
Focused on local regulations, BIR requirements, and accounting practices relevant to Philippine businesses.
Practical Application
Hands-on exercises using real-world examples from the Philippine business environment.
Who Should Attend
Small Business Owners
Gain the essential accounting knowledge needed to effectively manage your business finances, understand financial statements, and meet BIR requirements.
Career Changers
Build foundational accounting skills to transition into roles in finance, bookkeeping, or administrative positions with accounting responsibilities.
Administrative Staff
Enhance your value to employers by developing accounting skills that allow you to take on broader responsibilities in financial record-keeping.
Students & Graduates
Complement your academic education with practical, Philippine-focused accounting knowledge that prepares you for entry-level positions.
Course Curriculum
1
Introduction to Accounting Principles
Introduction to Accounting Principles
- The accounting equation and its significance
- Understanding assets, liabilities, and equity in the Philippine context
- Basic accounting terminology used in Philippine businesses
- Introduction to Philippine Financial Reporting Standards (PFRS) for SMEs
2
The Accounting Cycle
The Accounting Cycle
- Overview of the accounting cycle for Philippine businesses
- Source documents and their importance in Philippine accounting
- Journal entries and the recording process
- The posting process and maintaining ledger accounts
3
Chart of Accounts & Bookkeeping
Chart of Accounts & Bookkeeping
- Developing a chart of accounts for Philippine businesses
- Single-entry vs. double-entry bookkeeping
- Recording transactions: debits and credits explained
- Common bookkeeping pitfalls and how to avoid them
4
Financial Statements Basics
Financial Statements Basics
- Understanding the Balance Sheet (Statement of Financial Position)
- Income Statement (Statement of Comprehensive Income) structure
- Cash Flow Statement fundamentals
- Statement of Changes in Equity
5
Accounts Receivable & Revenue Recognition
Accounts Receivable & Revenue Recognition
- Managing customer accounts and credit policies
- Invoicing practices in the Philippines
- Revenue recognition principles under PFRS
- Handling sales with VAT implications
6
Accounts Payable & Purchasing
Accounts Payable & Purchasing
- Vendor management and payment processing
- Purchase order systems and approval procedures
- Recording supplier invoices and expenses
- Managing input VAT and withholding taxes
7
Inventory & Cost of Goods Sold
Inventory & Cost of Goods Sold
- Inventory valuation methods: FIFO, weighted average, specific identification
- Calculating cost of goods sold
- Physical inventory procedures and reconciliation
- Inventory accounting for Philippine retail and manufacturing businesses
8
Basic Philippine Taxation
Basic Philippine Taxation
- Overview of Philippine tax system and BIR requirements
- Value Added Tax (VAT) principles and calculations
- Withholding tax rules and compliance
- Preparing for tax filing and basic tax forms
Course Features & Benefits
Live Online Sessions
Interactive classes with Filipino instructors who provide personalized attention and real-time feedback.
Downloadable Resources
Comprehensive learning materials including templates, worksheets, and reference guides tailored to Philippine accounting practices.
Recorded Lessons
Access to recorded sessions for 6 months after course completion, allowing for flexible review and reinforcement of concepts.
Networking Opportunities
Connect with fellow learners and build professional relationships within the Philippine accounting community.
Practical Case Studies
Work through realistic scenarios based on Philippine businesses to apply theoretical knowledge to practical situations.
Completion Certificate
Earn a recognized certificate that demonstrates your proficiency in basic accounting principles as applied in the Philippines.
Meet Your Instructors
Rejna Magsaynova, CPA
Lead Instructor
With over 15 years of experience in accounting and finance roles across various industries in the Philippines, Rejna specializes in making complex accounting concepts accessible to beginners.
Arslan Lacsovic, CPA
Tax Specialist
A former BIR examiner with deep knowledge of Philippine taxation, Arslan brings practical insights into tax compliance and reporting requirements for small and medium enterprises.
Building Your Accounting Foundation in the Philippines
In today's dynamic Philippine business landscape, a solid understanding of accounting fundamentals is essential for professionals across all sectors. Our Basic Accounting course is meticulously designed to address the unique requirements of the Philippine financial environment, from BIR regulations to industry-specific practices.
The Philippine business sector has witnessed significant growth in recent years, creating increased demand for individuals with strong accounting skills. Whether you're managing a small enterprise in Cebu, handling administrative responsibilities in Makati's business district, or pursuing career advancement in Manila's corporate world, this course provides the knowledge foundation needed for success.
Unlike generic accounting programs, our curriculum specifically incorporates Philippine Accounting Standards, BIR circulars, and local business practices. Students gain practical experience working with the actual forms, reports, and regulatory requirements that Filipino businesses encounter daily. This focused approach ensures that your learning translates directly to workplace application.
Beyond technical skills, our course emphasizes the analytical thinking and attention to detail that distinguish exceptional accounting professionals. As businesses navigate increasingly complex financial landscapes, employers seek team members who can contribute to sound decision-making through accurate financial record-keeping and reporting.
Investing in accounting education is particularly valuable in the Philippine context, where regulatory compliance and proper financial management directly impact business sustainability. Our graduates consistently report improved career prospects, operational efficiency, and confidence in handling financial matters critical to organizational success.
Ready to Get Started?
Next Batch
May 15, 2025
Class Size
Limited to 20 students
Schedule
Twice weekly, 7-9 PM PHT
Basic Accounting Fundamentals
Complete 8-week course with all materials included
Frequently Asked Questions
Do I need any prior accounting knowledge?
No prior accounting knowledge is required. This course is specifically designed for beginners and assumes no previous accounting education. We start with the fundamental concepts and build progressively.
What is the class schedule and format?
Classes are held twice a week (Tuesday and Thursday evenings from 7-9 PM Philippine Time) over 8 weeks. Each session combines lecture, demonstrations, and interactive exercises. All sessions are conducted online via our learning platform, with recordings available for review.
What materials or software will I need?
You'll need a computer with internet access and basic spreadsheet software (Microsoft Excel or Google Sheets). All course materials, templates, and worksheets are provided as part of your enrollment. We also introduce free accounting software options suitable for small businesses in the Philippines.
Is there a payment plan available?
Yes, we offer flexible payment options. You can choose to pay the full amount upfront or split it into two installments (50% before the course starts and 50% at the midpoint). We also offer group discounts for organizations sending multiple participants.
What if I miss a live session?
All live sessions are recorded and made available within 24 hours. You can watch the recording at your convenience and submit any questions to the instructor, who will address them in the next session or via our learning platform.