MYOB Training Course Update: New training content for MYOB Reporting – Profit and Loss Reports

The EzyLearn Blog is where we officially release information about updates and additions to our existing training courses and today we announce new content for the Reporting Subject in our MYOB Training Course.

We are thrilled to announce the production and implementation of the Reporting module in the online MYOB Training Course. In the production of this course we will be including the learning outcomes for BSBFIA401A Prepare Financial Reports subject that forms part of the FNS40210 Cert IV in Bookkeeping course and certification.

Topics included in this course will include training on how to

• Prepare an asset register or property, plant and equipment, determining the depreciation calculation for these assets and keeping a depreciation schedule
• Adjust expense and revenue accounts for prepayments and accruals
• Adjust ledger accounts for inventory and transfer to final accounts
• Create journal entries for balance day entries and prepare final general ledger accounts to show gross and net profits for the reporting period
• Prepare revenue statement, balance sheet and cash-flow statements

MYOB Q&A Support

We’ve modified each MYOB Training Course to clearly indicate where you can ask our resident MYOB expert a question specific to your needs and your circumstances. The MYOB Q&A Support service was announced back in May 2011 and it’s just one way that we try to give you the best MYOB Training experience for a fixed price and LIFETIME training access!

Profit and Loss Report

Does that sound familiar? It WAS also called the P&L Report, but as our country marches in time with new international accounting standards we join the rest of the world in calling it the Income Statement. An Income Statement tracks revenues and expenses during a given period. The difference between the revenues and expenses represents a net loss or gain and Income Statements provide business owners with an understanding of the health of their business.

We’ve included our introductory video here: