Advanced Financial Accounting

Description

This financial accounting course demonstrates:

How the cash flow statement shows the cash inflows and outflows of an organization.
How to apply management principles to the financial resources of an organization.
How accounting is the system of recording financial transactions.
The profit and loss (P&L) statement, which summarises the revenues, costs, and expenses incurred during a specified period.
By attending this course, you will understand:

The part played by accounting in creating and monitoring strategy.
The purpose of the balance sheet, which is to show the financial status of an organization at a specific point in time.
The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

What you will learn

Accounting Basics

• Accounting concepts
• Steps in the accounting cycle
• The objectives of financial reporting
• Financial reporting standards

The Profit and Loss Statement

• Measurement of income
• Types of costs and expenses
• The many levels of profit
• Opex and capex

The Balance Sheet

• Constituents of the balance sheet
• The fundamental accounting equation
• Importance of working capital
• Exercise – prepare a set of accounts

The Role of Financial Accounting in Decision-making

• Key aspects of making a decision
• Limitations on the use of ratios
• The end of accounting?

Cash-flow Statements

• Cash is king!
• Understanding the sources and uses of cash
• The difference between cash flow and profit
• Exercise – Prepare a Cash Flow Statement

Financial Management

• Types of financial management
• Analysing financial statements
• Reporting to shareholders
• Creative accounting – managing policies and procedures

Strategic Accounting

• What is strategic accounting?
• The Balanced Scorecard
• Risk and Uncertainty
• Decision-making about the future

The Changing Role of the Finance Function

• Improving people effectiveness
• Match finance roles to outcomes
• Monitoring finance function performance

Course Review

• Summary and recap of key learning objectives
• Action Planning