Corporate Control Accounts

A crucial and critical step in the preparation of financial statements is the use of control accounts and year-end adjustments. These modifications are made to the financial statements in order to incorporate requirements from Financial Standards like FRS and IRFS. The Period End Process (Month End or Year End) includes these changes. The Financial Statements must reflect an accurate and fair assessment of the Company’s financial performance and position, which is ensured by these adjustments and journal entries.

As the point of contact between the Bookkeeper and the Accountant, the assistant accountant is important. You can get all the necessary theoretical knowledge and practical abilities to function as an Account Assistant or Finance Assistant through an accounts assistant training programme.

Professional Careers Training and Recruitment offer Best Online Corporate Control Accounts Training in the UK:

The Corporate Control Course covers the following topics

• The Control Accounts Adjustments.
• Foreign Currency reconciliations, Dollar, euro and Sterling reconciliations exchange.
• Import and Export.
• CIS Schemes, with complex contractor and subcontractor structure.
• Preparation of year-end journals using primary sources.
• Establishing Automatic Enrolment and Pensions.
• Annual Journal Entries Uploading.
• Adjustments for prepayments, accruals, depreciation, and fixed assets.
• Balance between Debtors and Creditors Control Accounts for the Subsidiary Ledgers (Purchases and Sales Ledger).
• Reconciliation of Cost of Sales and Stock Adjustments.
• Reconciling balance sheet adjustments such as those related to wages, payroll taxes, VAT, director loans, cash, and other loans, etc.
• Reconciliation and Suspense Account Clearing.
• Creating a provision for bad debt dividends Provision.
• Updating the Fixed Asset Register and Recording Modifications, Such as Disposals, Additions, Depreciations, and Accumulated Depreciation.
• Procedures for exporting and mapping data.
• Initial Trial Balance Creation.
• Financial statements are created using the final trial balance.
• Opening balance Adjustment for the new month, quarter, and annual basis to understand the effect on the financial statements.
• Yearend journals with complete understating of the final trail balance.
• In-house profit and loss accounts, balance sheet.

• Candidates gets hand on Control Account Adjustments, Year End Journal Entries, Trail Balance concerns, Advanced Reconciliations, and Management Reporting based on financial statement.
• Gain practical skills to apply in real-world scenarios.
• Learning Accounting Software (Sage, xero, QuickBooks & advanced excel).
• 1-2-1 training with ACCA qualified Chartered Accountants & CPD approved Trainer’s support.
• Software support & installation
• 24*7 Access to online resources, including video tutorials and case studies