Course Objectives

• Develop the skills and knowledge required in support of their personal development and roles within their organizations
• Appreciate the importance of the accounting and finance function with regard to its links with every part of the organization, and its suppliers, customers, shareholders, lenders, and society in general
• Develop a clear understanding of finance and accounting terminology thereby allowing them to make a valuable contribution to the workplace in meetings or in a supportive role
• Develop a clear understanding of accounting methods including:
• bookkeeping
• preparation of financial statements (Profit & Loss Account, Income Statement, Balance Sheet and Cash Flow Statements(
• basic interpretation of financial statements

Who Can Benefit

• Secretaries, office administrators
•  Personal assistants
•  Executive assistants
•  Administrative professionals
• Administration support staff

Course Outline

• Introduction to Finance and Accounting

• What is Finance and what are the major sources of Long-term and Short-term finance?
• What is Accounting and the differences between Financial Accounting and Management Accounting?
• Bookkeeping – Recording Financial Transactions
• Depreciation – the various methods and their impact on profit

• The Financial Statements

• Preparing basic financial statements – the Profit & Loss Account Income Statement - the Balance Sheet and the Cash Flow Statement
• Key elements – Defined and Explained
• Profit
• Revenue & Capital Expenditure
• Assets – Fixed & Current
• Liabilities – Current & Long-term
• Working Capital
• Net Worth
• Profit and Cash – what is the difference?
• Annual Reports & Accounts

• Basic Evaluation of Financial Statements

• Basic Ratio Analysis in order to assess performance:
• Profitability
• Liquidity
• Operating
• Gearing
• The Cash Flow Cycle and Working Capital
• Valuing a company – Book Value versus Market Value

• Costing & Budgeting
• What is the Cost of Production – Marginal and Total Costing Explained
• FIFO; LIFO and AVCO Explained
• Marginal Costing and Break-Even Analysis
• What-if Analysis
• Budgets

• The Benefits & Limitations of Budgets
• The Essential Features of Budgets
• Types of Budgets
• Basic forecasting techniques
• Preparing a departmental budget
• Comparing actual performance with the budget
• Variance Analysis

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