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FINANCE ACCOUNTING   

Financial Accounting – Adjusting Entries & Financial Statement Training

Become a Financial Accounting Expert — Practical, Career-Ready Skills

Build practical skills in preparing adjusting entries, recording accruals and deferrals, correcting accounting errors, and preparing accurate financial statements. Learn through real-world case studies and hands-on exercises to develop career-ready financial accounting expertise.

financial-accounting-adjusting-entries-and-financial-statement-training
Course Overview
  

Course Overview

Accurate financial reporting is essential for maintaining transparency, ensuring regulatory compliance, and supporting informed business decisions. At the heart of reliable financial reporting lies the proper recording of adjusting entries, which ensure that revenues, expenses, assets, and liabilities are recognized in the correct accounting period. Mastering adjusting entries and understanding how they impact financial statements are fundamental skills for every accounting and finance professional.

The Financial Accounting – Adjusting Entries & Financial Statement Training by myTectra is a comprehensive, hands-on program designed to provide participants with a strong foundation in financial accounting while developing expertise in adjusting entries, reversing entries, financial statement preparation, and financial reporting. The course follows the complete accounting cycle—from recording business transactions and preparing journal entries to generating accurate financial statements and interpreting business performance.

Participants will gain practical experience through instructor-led sessions, accounting simulations, Excel-based workshops, real-world business scenarios, and end-to-end accounting case studies. By the end of the program, learners will confidently prepare adjusting entries, create financial statements, understand the relationship between financial reports, and support organizational decision-making with accurate financial information.

Course Objectives

Upon successful completion of this training, participants will be able to:

  • Understand the complete financial accounting cycle from transaction recording to financial reporting.
  • Apply fundamental accounting principles and the accrual basis of accounting.
  • Differentiate between cash basis and accrual basis accounting.
  • Record journal entries and maintain accurate ledger accounts.
  • Prepare and analyze trial balances and adjusted trial balances.
  • Identify and record various types of adjusting entries.
  • Prepare reversing entries and perform period-end closing procedures.
  • Develop income statements, statements of owner's equity, balance sheets, and cash flow statements.
  • Understand the relationships among financial statements and their impact on business performance.
  • Detect and correct common accounting errors.
  • Perform financial statement analysis using industry-standard techniques.
  • Utilize Microsoft Excel to improve accounting accuracy and reporting efficiency.
  •  Apply accounting best practices to support compliance and business decision-making.

Prerequisites

Recommended:

  • Basic understanding of accounting terminology
  • Familiarity with business transactions
  • Basic Microsoft Excel knowledge
  • Interest in financial reporting and accounting

No prior experience with adjusting entries or financial statement preparation is required.

Target Audience

This training is ideal for:

  • Financial Accountants
  • Junior Accountants
  • Senior Accountants
  • Accounts Executives
  • Finance Executives
  • Financial Analysts
  • Accounts Payable Professionals
  • Accounts Receivable Professionals
  • Internal Auditors
  • External Auditors
  • Chartered Accountants
  • Cost Accountants
  • Finance Managers
  • Bookkeepers
  • Business Owners
  • Commerce Graduates
  • MBA Finance Students
  • Professionals transitioning into accounting and finance roles

Training Methodology

  • Instructor-Led Interactive Sessions
  • Hands-on Accounting Workshops
  • Journal Entry and Adjusting Entry Practice Labs
  • Financial Statement Preparation Exercises
  • Microsoft Excel Accounting Labs
  • Real-World Business Case Studies
  • Guided Problem-Solving Sessions
  • Group Discussions and Knowledge Sharing
  • End-to-End Accounting Cycle Simulation
  • Capstone Project
  • Practical Assessments and Quizzes

Tools Covered

  • Microsoft Excel
  • Journal Entry Templates
  • General Ledger Templates
  • Trial Balance Worksheets
  • Adjusting Entry Schedules
  • Accounting Worksheet Templates
  • Financial Statement Templates
  • Cash Flow Statement Models
  • Ratio Analysis Worksheets
  • Bank Reconciliation Templates
  • Financial Reporting Checklists
  • Internal Control Documentation Templates

Key Benefits

  • Gain practical expertise in adjusting entries through hands-on accounting labs.
  • Strengthen financial reporting skills with real-world accounting case studies.
  • Build job-ready accounting knowledge for finance and accounting career growth.
  • Learn end-to-end financial statement preparation using practical examples.
  • Improve financial analysis skills for better business decision-making outcomes.
  • Develop proficiency in Excel for accounting, reporting, and reconciliation tasks.
  • Enhance month-end and year-end closing process efficiency with best practices.
  • Master accounting workflows aligned with current industry reporting standards.
  • Increase confidence in preparing accurate financial reports for organizations.
  • Acquire professional accounting skills applicable across diverse business sectors.
  

Course Outcomes

After completing this course, participants will be able to:

Master adjusting entries for accurate financial reporting.
Master adjusting entries for accurate financial reporting.
Prepare financial statements using accounting principles.
Prepare financial statements using accounting principles.
Accrual accounting for revenue & expense recognition.
Accrual accounting for revenue & expense recognition.
Create adjusted trial balances with confidence.
Create adjusted trial balances with confidence.
Analyze performance through financial statements.
Analyze performance through financial statements.
Perform ratio analysis for profitability and stability.
Perform ratio analysis for profitability and stability.
Complete the accounting cycle to financial reports.
Complete the accounting cycle to financial reports.
Improve accounting accuracy through reconciliation.
Improve accounting accuracy through reconciliation.
Utilize Microsoft Excel for accounting and reporting.
Utilize Microsoft Excel for accounting and reporting.
Support business decisions with financial reporting skills.
Support business decisions with financial reporting skills.
  

Course Outline

Module 1: Introduction to Financial Accounting

Topics Covered

  • Importance of Financial Accounting
  • Role of Accounting in Business
  • Users of Financial Statements
  • Objectives of Financial Reporting
  • Types of Business Transactions
  • Financial Accounting vs Management Accounting
  • Generally Accepted Accounting Principles (GAAP)
  • Introduction to IFRS
  • Accounting Terminology
  • Financial Reporting Framework

Practical Exercises

  • Identify business transactions
  • Classify accounting events
  • Understand financial reporting requirements

Analyze accounting scenarios 

Module 2: Accounting Cycle Fundamentals

Topics Covered

  • Complete Accounting Cycle
  • Accounting Equation
  • Double-Entry Bookkeeping
  • Debit and Credit Rules
  • Source Documents
  • Journal Entries
  • General Ledger
  • Trial Balance
  • Cash Basis vs Accrual Basis Accounting
  • Revenue Recognition and Matching Principle

Practical Workshops

Prepare:

  • Journal Entries
  • Ledger Accounts
  • Trial Balance
  • Accounting Cycle Flow
Module 3: Understanding Adjusting Entries

Topics Covered

  • Purpose of Adjusting Entries
  • Why Adjustments Are Required
  • Timing Differences in Accounting
  • Types of Adjusting Entries
  • Accrual Adjustments
  • Deferral Adjustments
  • Estimates in Accounting
  • Impact of Adjustments on Financial Statements
  • Period-End Accounting Process
  • Common Mistakes in Adjustments

Practical Exercises

Determine:

  • Required adjustments
  • Affected accounts
  • Debit and credit entries
  • Financial statement impact
Module 4: Recording Adjusting Entries

Topics Covered

  • Supplies Adjustments
  • Prepaid Expenses
  • Insurance Adjustments
  • Unearned Revenue
  • Accrued Revenue
  • Accounts Receivable Adjustments
  • Accrued Expenses
  • Wages and Salaries Payable
  • Interest Receivable and Interest Payable
  • Bad Debt Expense
  • Depreciation
  • Amortization
  • Inventory Adjustments

Practical Workshops

Prepare adjusting entries for:

  • Supplies
  • Insurance
  • Rent
  • Wages
  • Salaries
  • Interest
  • Accounts Receivable
  • Unearned Revenue
  • Depreciation
  •  Amortization
Module 5: Reversing Entries and Period-End Closing

Topics Covered

  • Purpose of Reversing Entries
  • Accounting Period Concept
  • Reversing Entry Rules
  • Temporary Accounts
  • Permanent Accounts
  • Closing Entries
  • Income Summary Account
  • Closing Revenue Accounts
  • Closing Expense Accounts
  • Post-Closing Trial Balance

Practical Exercises

Prepare:

  • Reversing Entries
  • Closing Entries
  • Income Summary
  • Post-Closing Trial Balance
Module 6: Adjusted Trial Balance and Accounting Worksheet

Topics Covered

  • Preparing an Adjusted Trial Balance
  • Accounting Worksheet Structure
  • Ten-Column Worksheet
  • Recording Adjustments
  • Income Statement Columns
  • Balance Sheet Columns
  • Error Detection
  • Financial Statement Preparation from Worksheets
  • Worksheet Review Procedures

Practical Workshops

Develop:

  • Adjusted Trial Balance
  • Accounting Worksheet
  • Adjustment Schedule
  •  Financial Statement Worksheet
Module 7: Preparing Financial Statements

Topics Covered

  • Income Statement Preparation
  • Statement of Owner's Equity
  • Balance Sheet Preparation
  • Cash Flow Statement Overview
  • Statement of Changes in Equity
  • Financial Statement Presentation
  • Notes to Financial Statements
  • Financial Reporting Best Practices

Practical Workshops

Prepare:

  • Income Statement
  • Statement of Owner's Equity
  • Classified Balance Sheet
  • Financial Statement Package
Module 8: Financial Statement Relationships and Reporting

Topics Covered

  • Relationship Between Financial Statements
  • Flow of Financial Information
  • Linking Trial Balance to Financial Statements
  • Income Statement to Owner's Equity
  • Owner's Equity to Balance Sheet
  • Cash Flow Statement Relationships
  • End-to-End Financial Reporting Process
  • Financial Reporting Accuracy
  • Financial Reporting Documentation

Practical Exercises

Trace:

  • Accounting Transactions
  • Trial Balance to Financial Statements
  • Financial Statement Relationships
  • Reporting Accuracy Checks
Module 9: Preparing the Cash Flow Statement

Topics Covered

  • Purpose and Importance of the Cash Flow Statement
  • Cash vs Accrual Accounting Impact
  • Structure of the Cash Flow Statement
  • Operating Activities
  • Investing Activities
  • Financing Activities
  • Direct Method vs Indirect Method
  • Cash Flow Reconciliation
  • Free Cash Flow Analysis
  • Cash Flow Interpretation for Business Decisions

Practical Workshops

Prepare:

  • Cash Flow Statement using the Indirect Method
  • Cash Flow Reconciliation Schedule
  • Operating Cash Flow Analysis
  • Cash Movement Report
  • Liquidity Assessment Report
Module 10: Financial Statement Analysis

Topics Covered

  • Objectives of Financial Statement Analysis
  • Internal and External Financial Analysis
  • Income Statement Analysis
  • Balance Sheet Analysis
  • Cash Flow Statement Analysis
  • Comparative Financial Statements
  • Common-Size Financial Statements
  • Horizontal Analysis
  • Vertical Analysis
  • Trend Analysis
  • Identifying Financial Strengths and Weaknesses

Practical Exercises

Analyze:

  • Multi-Year Financial Statements
  • Revenue and Expense Trends
  • Asset and Liability Structure
  • Business Financial Performance
  • Financial Reporting Quality
Module 11: Ratio Analysis and Business Performance Evaluation

Topics Covered

  • Liquidity Ratios
  • Profitability Ratios
  • Efficiency Ratios
  • Solvency Ratios
  • Leverage Ratios
  • Activity Ratios
  • Return Ratios
  • Working Capital Analysis
  • Earnings Quality
  • Performance Benchmarking

Practical Workshops

Calculate:

  • Current Ratio
  • Quick Ratio
  • Gross Profit Margin
  • Operating Profit Margin
  • Net Profit Margin
  • Return on Assets (ROA)
  • Return on Equity (ROE)
  • Debt-to-Equity Ratio
  • Inventory Turnover
  • Accounts Receivable Turnover
  • Interest Coverage Ratio
Module 12: Error Detection, Internal Controls and Accounting Compliance

Topics Covered

  • Types of Accounting Errors
  • Errors of Omission
  • Errors of Commission
  • Errors of Principle
  • Compensating Errors
  • Suspense Accounts
  • Bank Reconciliation
  • Internal Controls in Accounting
  • Financial Reporting Compliance
  • Documentation and Audit Readiness
  • Fraud Prevention Techniques
  • Accounting Best Practices

Practical Exercises

Develop:

  • Error Correction Entries
  • Bank Reconciliation Statement
  • Internal Control Checklist
  • Compliance Review Report
  • Financial Documentation Checklist
Module 13: Microsoft Excel for Financial Accounting

Topics Covered

  • Organizing Accounting Data
  • Excel Formula Fundamentals
  • Financial Functions
  • Lookup Functions
  • Logical Functions
  • Pivot Tables
  • Conditional Formatting
  • Data Validation
  • Financial Statement Templates
  • Accounting Schedules
  • Dynamic Financial Reports
  • Dashboard Fundamentals

Practical Workshops

Build:

  • Journal Entry Register
  • Trial Balance Template
  • Adjusting Entry Schedule
  • Financial Statement Template
  • Cash Flow Worksheet
  • Ratio Analysis Workbook
  • Financial Dashboard
Module 14: Real-World Accounting Case Studies

Topics Covered

  • Service Business Accounting
  • Trading Business Accounting
  • Manufacturing Business Accounting
  • Month-End Closing Process
  • Year-End Financial Reporting
  • Period-End Adjustments
  • Business Reporting Challenges
  • Financial Reporting Best Practices
  • Industry Accounting Scenarios
  • Decision-Making Using Financial Reports

Practical Workshops

Complete:

  • Full Accounting Cycle
  • Month-End Closing
  • Financial Statement Preparation
  • Financial Performance Review
  •  Business Recommendation Report
Module 15: Ethical Financial Reporting and Accounting Standards

Topics Covered

  • Professional Ethics in Accounting
  • Financial Reporting Integrity
  • Accounting Standards Overview
  • Regulatory Compliance
  • Corporate Governance
  • Internal Financial Controls
  • Financial Disclosure Requirements
  • Fraud Detection and Prevention
  • Auditor Responsibilities
  • Documentation Best Practices
  • Responsible Financial Reporting

Discussion Topics

  • Accounting Ethics Case Studies
  • Financial Reporting Failures
  • Corporate Governance Practices
  • Fraud Prevention Strategies
  • Regulatory Compliance Challenges
Module 16: Capstone Project

End-to-End Financial Accounting and Financial Statement Preparation Project

Participants will:

  • Analyze business transactions and identify appropriate accounting treatments.
  • Record journal entries using the double-entry accounting system.
  • Maintain general ledger accounts and prepare an unadjusted trial balance.
  • Record accrual, deferral, depreciation, inventory, and other adjusting entries.
  • Prepare reversing entries where applicable.
  • Develop an adjusted trial balance and accounting worksheet.
  • Prepare the Income Statement.
  • Prepare the Statement of Owner's Equity.
  • Prepare the Balance Sheet.
  • Prepare the Cash Flow Statement.
  • Perform closing entries and generate a post-closing trial balance.
  • Conduct ratio, trend, and comparative financial statement analysis.
  • Evaluate business performance using financial information.
  • Present financial reports and management recommendations based on accounting results.

Join the Course Now!
  

Clients Testimonials

Hear what our learners say about myTectra!

Getting adjusting entries right was always challenging for me, but this training changed that. The instructor explained every adjustment with practical scenarios, and preparing financial statements became much more structured. myTectra delivered exactly the hands-on learning I was looking for.
Prasanth Kishore
Accounts Executive
The course covered the complete accounting cycle instead of focusing only on theory. Working through journal entries, adjusted trial balances, and financial statements gave me confidence to handle month-end closing activities more efficiently in my organization.
Surya Dev
Senior Accountant
One of the best accounting programs I've attended. The practical exercises on accruals, depreciation, reversing entries, and financial statement preparation closely matched the work I handle every month. The trainer was knowledgeable and always encouraged discussions throughout the sessions.
Jyoti Sandhu
Finance Associate
Preparing financial statements now feels much more logical because I understand how every adjusting entry affects the final reports. The real-world case studies and Excel-based exercises from myTectra helped me strengthen both my accounting knowledge and reporting accuracy.
Diksha Jain
Assistant Finance Manager

Why Choose Us?

Discover key features that set our training apart.

Expert-Led Training

Learn from certified instructors with real-world industry experience.

Hands-On Learning

Practical assignments and projects to build job-ready skills.

Globally Recognized Certificate

Earn a professional certificate to boost your career opportunities.

FAQ's

What is the duration of this course?

The total course duration is 24 hours delivered via instructor-led sessions and practical labs.

Will I get placement assistance?

myTectra is providing 100% placement assistance on our key courses. We help you with the career counselling, Exams on Key courses, Mock Interviews and Technical Interviews Tips.

Landing an interview proves that you have the job-specific skills for the position, but how do your interview skills stack up? Also, Soft skills are often the most important factor in showing you're the best candidate for the job.

Hence we are conducting FREE TRAINING on Soft-Skills worth Rs-25, 000 to all myTectra students which will help you to attend the interviews with more confidence.

What if I miss a class?

You will never miss a lecture at myTectra. You can choose either of the two options:

Classroom Training:

  • If you miss one or few classes we can give a backup class based on trainer and your convenient time. 
  • In case if you miss many classes, we can reschedule your class with upcoming batches or other running batches based on how many courses topics you have completed so far.

Live-Online Training:

  • View the recorded session of the class available in your LMS.
  • You can attend the missed session, in any other live batch.
Can I attend a demo session before enrollment?

Yes. We arrange a free demo for all the courses either in the Classroom or Live-Online demo. Please fill the demo request form below to schedule a free demo.

What if I have more queries?

Just give us a CALL at +918047112411 OR email at support@mytectra.com

What are the payment options?

Payments can be made using any of the following options and a receipt of the same will be issued to you automatically via email for both classroom training and Online training.

  • Visa Debit/Credit Card
  • American Express and Diners Club Card
  • Master Card
  • PayPal
  • Net Banking/Wire Transfer
  • UPI Payment such as Google Pay, PhonePe, Paytm
  • Cash/Cheque/DD ( Not for Online Training )
Where do the classes take place?

For Individual: 

Classroom Training - Bangalore

Live-Online Training - Globally 

For Corporates: 

Classroom Training - We deliver classroom training for corporate in more than 20 countries. Send us an Enquiry Now!

Online Training - Globally

* All of the classes are conducted live online. They are interactive sessions that enable you to ask questions and participate in discussions during class time. We do, however, provide recordings of each session you attend for your future reference.

Who are the Trainers?

Our Trainer’s are chosen not only for their knowledge and expertise but also for their real-time experience in the respective courses.

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Master Adjusting Entries & Financial Statements

Build practical expertise in financial accounting, adjusting entries, and financial statement preparation.