Introduction

This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long-term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation.

This course is designed to introduce participants to the principles, concepts, and applications of financial accounting.

The course aims to address the following key questions: what is accounting concepts; what are financial statements; how and why are they prepared; and what are some of the elementary rules governing their preparation? Participants are exposed to the process by which financial transactions and events are recorded, and will learn how to compile and interpret rudimentary financial statements.

Course Objectives

• Develop Sufficient understanding of the basic concepts underlying financial Statement, reporting practices and techniques, such as double entry accounting, trial balance sheet, income statement cash flow statement and bank reconciliation statements
• Describe how budgeting relates to the planning and controlling functions of management.
• Explain the relationship between budgeting and strategic planning.
• Define chart of accounts, responsibility reporting, and flexible budgets.
• List and describe the phases of budgeting.
• Describe budgetary slack.
• Sufficient understanding of financial analysis.
• Prepare and analyze a trial balance and financial statements.
• Analyze a cash flow statement.
• Analyze financial statements using ratio analysis.

Training Methodology

The Course will be highly participative and will include a wide range of methods including presentations, discussions, individual and group activities, role-plays, videos, case studies and exercises. Where appropriate, these will include real issues brought to the Course by delegates.

Case studies from different industries will be investigated. Each delegate will receive an extensive reference manual, as well as case studies, while worked out solutions will be handed out to the delegates on conclusion of group discussions.

To ensure the concepts introduced during the course are understood, they will be reinforced through a mix of learning methods, including lecture style presentation, open discussion, case studies, simulations, role plays and group work.

This program is supported by videos to emphasize certain aspects of this program and to highlight critical points.

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions
• Pre and Post Test

Who should attend?

• Accountants, and those who have financial responsibility within their area of activity and those whose career development involves progression
• Professionals with direct financial responsibilities and those who would benefit from news ideas and methods
• Managers & Seniors who need to know more about business planning, budgeting, costing terms and techniques.
• Cost and management accountant
• Financial planners and cost analysts
• Senior managers who supervise people with financial responsibilities
• Financial and budget controllers who are moving to wider responsibilities

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: