The Effective Accounts Assistant

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  • Fees : 2600 $
  • Date 17 Feb 2019
  • Location Abu Dhabi, English

The Effective Accounts Assistant

 

Course Objectives

 

Having completed this seminar you should be able to:

*       Understand the basic areas of accounting and finance, the terminology and the structure.

*       Understand the key elements of accounting in the context of a practical working environment and use a range of practical analytical skills for interpreting and handling financial information.

  •  *       and interpret information presented in financial reports.
  •  *       effectively with the financial professionals.

*       Make more effective decisions on financial matters.

Course Outline

Day 1

The accounting environment

 

*        Introduction to Accounting Terminology and Policies.

*        Accounting as an information system.

*        Generally accepted Accounting Principles.

*        Differentiating between cash and accrual basis accounting.

*        Basic cash flow statements.

*        The role of external auditor.

*        The accountant’s report and auditor’s opinion.

The balance sheet – the financial position.

 

*        Introduction to the balance sheet.

*        What does the balance sheet tell us about the company?

*        Limitations of the conventional balance sheet.

*        Introduction to the profit and loss account (income statement).

*        The structure of the profit and loss account.

*        What does the profit and loss account tell us about the company?

*        The links between the profit and loss account and balance sheet.

Day 2

The cash flow statement.

 

*        Introduction to the cash flow statement.

*        What is included in the cash flow statement?

*        Why is cash flow so important?

*        The links between the cash flow statement, profit and loss account and balance sheet.

 

Annual report and financial analysis.

 

*        Introduction to the key elements of published reports and accounts.

*        Sources of financial information.

*        Ratio analysis.

*        Cash versus profit as a measure of performance.

*        Predicting business failure – the Altman Z-score.

Day 3

Cost/volume/profit analysis.

 

*        Introduction to cost/volume/profit (CVP) relationships.

*        Break-even analysis.

*        The impact of cost structure changes.

*        Limitations of CVP analysis.

Budgeting.

 

*        Introduction to budgeting.

*        Purposes of budgeting.

*        The budget process, including activity based budgeting.

*        Uncertainty and risk – worst and best outcomes.

*        Motivation and the behavioural aspects of budgeting.

*        Problems in budgeting.

 

Day 4

Budgetary control.

 

*        Introduction to organisational and accounting control systems.

*        Standard costing.

*        Flexed budgets and variance analysis.

*        Types of variances and the reasons they occur.

*        Planning and operational variances.

Capital investment decisions.

 

*        Introduction to capital investment decision making.

*        What is an investment?

*        Investment appraisal criteria and investment decisions.

*        Time value of money.

*        Free cash flows.

*        Capital rationing and control of capital investment projects.

 

 

Day 5

Measuring Business Results.

 

*        Introduction to risk, uncertainty and decision-making.

*        Sensitivity analysis.

*        Matching principle.

*        Nature of revenue.

*        Nature of expense.

*        Using Journals and ledgers in recording and sorting revenues and expenses.

Decision-making skills on financial matters.

 

This will involve a range of practical exercises using case study examples.

Practical exercises

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