The purpose of this course is to give the participants a good and practical understanding of accounting and financial concepts, standards, and tools. The course includes introduction to simple preparation and analysis of financial statements to help evaluate the performance and take proper / corrective decision.
By the end of this course, delegates will be able to:
- Specifying the exact nature and scope of accounting process
- Identifying major accounting and financial terms and concepts
- Sophisticated reading of the "balance sheet" and "income statement" of a firm will enable you to understand its financial position and results of operations
- Awareness of the importance and / or the implications of decisions or corrective actions to be taken
- Being familiar with Evaluating the performance of the firm
DAY 1
- Introduction
- Importance of accounting
- Key accounting and financial terms
- Management Accounting Vs. Financial Accounting
- Cash Flow Statements Vs Cash Flow Budgets
- Chart of accounts
- Cash v. accrual accounting basis
- Debits and credits – Simple idea
- Accounting Equation
DAY 2
- Introduction to financial statements
- Income Statement
- Equation
- Components
- Preparation
DAY 3
- Introduction to Balance Sheet
- Balance Sheet Equation
- Equation
- Components
- Preparation
DAY 4
- Statement of Cash Flows
- Cash and equivalent cash items
- Direct and indirect methods
- Preparation
- Non cash items
- Magic Equation
- Statement of Changes in Equity
DAY 5
- Financial Management Tools (Financial statements analysis)
- Vertical v. Horizontal trend analysis
- Ratio analysis
- Decision making related to Financial statements analysis
- Budgets, Projections and Forecasts
- Shareholder /Partner / Businessman
- Investor (Prospective shareholder)
- Major Creditor or lender
- Financial analyst
- Non-financial manager (H/R, sales and marketing, warehouse, etc.…)
- Anyone interested and wants to develop his knowledge of financial statements and its analysis