COURSE OBJECTIVES
- Use financial information to manage and assess your company or department operations
- Manage and Reduce Cost (Fixed versus variable costs)
- Control the working capital and manage the impact of inventory build-up
- Practise and use a range of accounting methods, tools and techniques available to manage financial risks in your organization
- Interpret the language of accounts and break down barriers of understanding
- Get Confidence to prepare budgets and read Management Information
COURSE OUTLINE
Basic Accounting Concepts
- The Accounting Process
- Cash Vs. Mercantile Accounting
- Accrual Concept
- Stock Valuation – FIFO Vs. LIFO
- Types of Accounting
- Revenue Recognition
- Cap-ex. vs. Op-ex.
- Understanding of Depreciation/Amortization
- Tangible vs. Intangible vs. Capital W-I-P
- Current vs. Non-current
Introduction to Financial Statements
- Profit & Loss Account including OCI
- Balance Sheet and SOCIE
- Cash Flow Statement
- Notes to Accounts
Financial Statement Analysis
- P&L Statement Analysis
- Balance Sheet Analysis
- Funds Flow Analysis
- Ratio Analysis
- Trend Analysis
- Common Size Analysis
Working Capital Management
- Concept of Working Capital
- Managing Inventory and Trade Receivables
- Managing Trade Payables
- Budgeting and Working Capital Management
Capital Budgeting
- Capital Expenditure Evaluation
- NPV Technique
- IRR Technique
- Pay Back Method
- Risk Analysis
Cost Management and Costing Techniques
- Cost Concepts
- Various Costing Methods
- Breakeven Analysis
- Costing Vs. Budgeting
- Strategic cost management
Revenue Management
- Revenue Recognition and possible revenue leakages
- Revenue Vs. Trade Receivables
- Revenue Vs. Trade Payables
- Revenue Vs. Foreign Exchange Management
Introduction to IFRS
- Introduction to the concept of Accounting Standards
- Generally applicable IFRS
- Discussion on Specific IFRS