Understanding Basic Accounting & Finance (Part 1)
| Objective |
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To provide an understanding of the accounting system and its various components, and develop an overview of the financial accounting process in the company.
Upon completion, participants will acquire an overview of business finance and able to understand basic business performance indicators and distinguish good from bad performance.
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| Audience |
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Accounting staff level to managerial level and non financial executives, including executives with decision making roles |
| Methodology |
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Workshop discussions accompanied by accounting practice and scenario analysis |
| Duration |
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2 days Check our available dates HERE Click HERE if you wish to register |
| Code |
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UBAF-1 |
Course Outline
| I. |
Introduction to the accounting function
a. Business information requirements
b. Role of accounting and finance function
c. Internal control
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| II. |
Accounting framework
a. Accounting system architecture
b. Source documentation
c. Key bookkeeping concepts |
| III. |
Accounting procedures
a. Bookkeeping system
• Journal entries
• Ledger entries
• Cash book entries
b. Transaction processing
• Revenue transactions
• Expenditure transactions
• Capital transactions
• Cash transactions
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| IV. |
Accounting accuracy
a. Trial balancing
b. Correction of trial balance errors
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| V. |
Internal Controls
a. Importance
b. Your role in Internal Control Assurance
c. Internal Control Risk
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| VI. |
Introduction to financial reporting
a. Information requirements and risk management
b. Role of accounting and finance function
c. Internal control and efficiency |
| VII. |
Financial reporting and financial statements
a. Structure of financial statements
b. Content of financial statements
• The income statement
• The balance sheet |
| VIII. |
Conclusion |
| IX. |
Learning Assessment |
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