Who Can Benefit?

• Secretaries
• Office administrators
• Personal assistants
• Executive assistants
• Administrative professionals
• Administration support staff

Course Objectives

• Develop the skills and knowledge required in support of their personal development and roles within their organisations
• Appreciate the importance of the accounting and finance function with regard to its links with every part of the organisation, 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 budgeting costing

 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 and 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