Program Category: Accounting and Finance

This training aims to provide a basic understanding of finance and accounting concepts to non-finance professionals. Financial literacy is essential to enable you to assess the performance of your department, recognize areas of further improvement and make decisions that will boost the profitability of your organization as a whole. In this training which is delivered as afternoon sessions, you will learn to read financial statements understand costing methods for your product or service and assess the profitability and financial position of your organization.

Contents

• Basic concepts in finance and accounting
• Components and basic structure of financial statements
• Basic accounting principles and practice of accounting
• Costing methods, cost classification and break-even analysis
• Understanding financial ratios and how to calculate
• Interpretation of financial statements through ratio analysis
• Time value of money

This two day program is designed to provide non-financial executives and managers with an understanding of the importance of budgeting, the process of budgeting, and how to utilize budgets as a control mechanism. You will gain the tools needed to prepare, implement, and manage a budgeting process within your unit

All executives and managers in business, government and not-for-profit organizations need to have a clear understanding of this budgeting process. Using a case study approach, the course will highlight the objectives of budgeting and why budgets are fundamental to an organization’s ability to plan, monitor and execute it’s short-term and long-term commitments. Participants will use the case study to plan the budget schedule, work out budgeted P & L, Cash flow and Balance Sheet and learn key business ratios that can serve as a powerful toolkit to monitor / evaluate trends and performance

Contents

The Purpose of Budgeting
Planning for Control
Budget Components
The Process of Budgeting
Budget Implementation – Putting it in Place
Why Budgets Fail

This is a two-day comprehensive course on the role of accounting and how it helps in making informed business decisions in an organization. The course is specifically designed for those who rely upon accounting information but do not have  accounting background. The program offers to introduce the participants to the world of accounting using plain language and a very easy methodology.

The participants will gain a clear understanding of the structures of the accounting system, the information it contains, and how it can be accessed. Numerous practical examples and illustrations will be incorporated into the training. The hands-on exercises will explain how the information on business  transactions and activities is input to the accounting system and is used throughout the organization. The participants will understand how accounting provides essential support to business operations, decision making and effective business management.

Upon successful completion of the training, the participants will be able to record and understand transactions in an accounting system, make routine accounting adjustments, understand the structure and format of financial statements, interpret and evaluate accounting information, and make more informed decisions based on accounting data.

Contents

Introduction to Accounting
The double-entry method of accounting
Recording transactions in journal
The accounting cycle
Role of ledgers and journals
What are accounting adjustments
Financial statements – structure and format
The income statement
Recognizing income and expenses
The balance sheet
Adjusting advances and prepayments
The cash flow statement
Interpreting information from the financial statements

The purpose of this course is to develop the ability of non-finance executives to interpret, use and understand financial statements and management ratios. Skills of judgment and attitudes will be enhanced to equip managers in their responsibilities relating to the financial goals of the organization. Participants will develop skills in planning, control and decision making. Evaluation of investment and financing alternatives and analysis of key management ratios will be included

Contents

-Goals of the Organization and the Finance Environment
-Financial Reports: The Balance Sheet
-Financial Reports: The Profit and Loss or Income Statement
-Financial Reports: The Cashflow Statement
-The Time Value of Money
-Organization Structures and Legal Entities
-Analysis and Interpretation of Key Management Ratios
-Working Capital Management
-Budgeting Process
-Breakeven Analysis
-Capital Budgeting