Financial accounting (Fi Bu) is part of a company's accounting system and records all operational transactions that lead to a cash flow. This includes income and expenditure. Alternative sub-areas of accounting are accounts receivable accounting or accounts payable accounting. All companies with an annual turnover of more than CHF 500,000 in the last financial year are obliged to keep double-entry bookkeeping, including the preparation of annual financial statements and a balance sheet.

A financial accounting course provides practice-oriented knowledge for getting started in accounting and creates a solid foundation for further business management tasks. Typical contents are

• Fundamentals of financial accounting (FiBu): Introduction to accounting terms, principles and objectives.
• Legal framework: Overview of relevant laws and regulations that must be observed in accounting.
• Structure and organization of bookkeeping: How bookkeeping is organized, including the structure of a chart of accounts.
• Account assignment and posting of business transactions: Practical exercises for the correct allocation and posting of various business transactions.
• Introduction to costing, foreign currencies and interest calculation: basic knowledge of cost accounting, dealing with currencies and calculating interest.

This course is ideal for anyone who deals with figures in their job or wants to prepare for a career in accounting. The knowledge imparted is valuable in both private and professional practice.

Important: Each school determines the specific course content individually. It is therefore advisable to ask your chosen school directly which topics are actually covered in the course.

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Accounting is divided into financial accounting (financial accounting) and operational accounting (operational accounting). Mandatory financial accounting (FiBu) records current business transactions as a cash flow statement - expenses and income. Voluntary operational accounting (BeBu) presents the internal accounts of a company in actual values in the form of costs and revenues.
In principle, accounting serves as a means of accountability for the operations manager vis-à-vis his various stakeholders and as a management tool for the operations management. Accounting allows decisions to be made, investments to be planned and changes to be monitored.

There are the following types of financial accounting training:

• Basic course
• Course for advanced learners
• Practical course
• Refresher course
• Course for software such as ABACUS
• Accounting course
• Reporting and analysis courses

The duration of the financial accounting training depends on the type of training:

• One day or a few days for a basic course
• usually 2 semesters for accounting clerks
• 3 to 6 semesters for finance and accounting specialists

Ask the school offering the course of your choice about the specific duration.

The financial accounting basics are:

• Accounting basics
• Business transactions (chart of accounts, VAT, goods accounts)
• Account system
• Income statement
• Opening balance sheet

Financial accounting explained simply:

• A sub-area of operational accounting
• Covers all business transactions that can be expressed in figures
• All expenses and income are included
• In large companies, financial accounting is further subdivided into accounts payable (incoming invoices) and accounts receivable (outgoing invoices)

The purpose of financial accounting is to determine the overall result of a company. This serves to document the financial situation and changes in inventories. It documents profit or loss in an accounting period.