TRAINING FAQs.

Here are the FAQs often asked by prospective trainees before they enroll for our training

Why should I do Financial Accounting manually since not many companies prepare accounts manually?

It may be true that not many companies prepare accounts these days, however, in order to appreciate the functions that are performed by a computerized system, and be able to adapt it to different situations, one need to know how the accounting information is put together. It is also very important to know the use of the various documents produced and used in the accounting system. As an accountant one must be able to design a simple accounting system. Software packages are tools to speed up accounts preparation. If you do not know how to prepare accounts practically, there is little help a computer can give you.

Why do I need manual payroll when most companies use computerized payroll system?

Knowing how to prepare payroll manually is very important. In manual payroll, you learn how to use the payroll tables and how to complete tax forms. You also learn the legislation behind the various functions in payroll. Secondly, if the computer should breakdown for any reason, the employees will still have to be paid on due date.

There are so many accounting softwares in use, will my Sage One Accounting or Zoho Books be of any help to me?

We are in the computerized accounting era. Most of the accounting packages are similar in function. Once you know the package you can adapt to another one with minimal training. We use Sage One Accounting or Zoho Books in our computerized accounting workshops because Peachtree is very popular with small and medium sized companies.

Spreadsheet is spreadsheet, how differently do accountants use spreadsheet?

Spreadsheet is completely different from a computerized accounting package. It can be used for a thousand and one functions, and there are several ways of doing the same thing in spreadsheet. The use of spreadsheet in accounting concentrates on the saving of time by performing tasks faster with the use of the shortcuts, formulae, macros and the various wizards. Data from accounting softwares are transferred to a spreadsheet to prepare schedules and tables that a computerized accounting package may not be able to prepare.

I am not yet a manager, will I benefit from the management accounting workshop?

Management accounting skills are useful not only to management staff but to any individual. They enhance one’s progression to the top. They can change one’s career to a self-employed consultant, as the ability to prepare budgets, cashflows and business plans are required in any business environment.

The sort of course I want isn't listed, can you still offer me the training I want?

We fully understand that each company is different, and so has different training requirements. We can design bespoke training courses to meet your exact requirements. If you want training on a subject not listed, simply email us with your requirements and we will be able to create a course to meet your needs.

Auditing is learnt in practice firms, what will I do with my auditing skills outside a practice?

Learning to audit on the job takes many years to master. If you are in industry or commerce, you should also be a ready-made material for the internal audit department.

What is Practice Attachment?

Our full-time courses are made up of two parts, workshop and practice attachment. Once the workshops are completed you move on to practice attachment under the supervision of Olatunji Daniels  & Co, a firm of Chartered Accountants (as well as other affiliate partner firms) for a minimum of two days a week.

What is Articleship?

Articleship is a 3-year practical training phase that allows accounting students to work on real assignments for real employers (mostly Chartered Accountant firms). There are a few pre-requisites (exams, orientation programme, training) that a professional accountancy student should meet before starting the articleship. This is also an option for participants of our Internship Programme.

I cannot afford the PTAAT Programme, can I be awarded a scholarship?

We provide full and partial scholarship options, subject to terms and conditions.

Can my employer sponsor me?

Yes. Please contact us if you need us to write your employer a sponsorship letter.