Business Financial and Accounting Skills

Overview:

Introduction:

This training program provides participants with essential skills and knowledge in business finance and accounting. It empowers them to manage financial operations effectively, enhance financial decision-making, and ensure accurate financial reporting and analysis.

Program Objectives:

At the end of this program, participants will be able to:

• Understand the principles of financial accounting and reporting.

• Develop and manage budgets and financial plans.

• Analyze financial statements and performance.

• Apply cost accounting methods for business efficiency.

• Implement best practices in financial management and control.

Targeted Audience:

• Accountants.

• Financial Managers.

• Business Analysts.

• Finance Officers.

• Managers involved in financial decision-making.

Program Outline:

Unit 1:

Fundamentals of Financial Accounting:

• Principles and concepts of financial accounting.

• Understanding the accounting cycle.

• Preparing and interpreting financial statements.

• Key accounting policies and standards.

• Case studies on financial accounting practices.

Unit 2:

Budgeting and Financial Planning:

• Importance of budgeting in business management.

• Different types of budgets (operational, capital, cash flow).

• Steps in the budgeting process.

• Monitoring and controlling budgets.

• Best practices in financial planning and forecasting.

Unit 3:

Financial Statement Analysis:

• Techniques for analyzing financial statements.

• Key financial ratios and their interpretation.

• Assessing business performance and financial health.

• Conducting variance analysis.

• Case studies on financial statement analysis.

Unit 4:

Cost Accounting and Management:

• Overview of cost accounting principles.

• Methods of cost allocation and costing systems.

• Activity-based costing (ABC) and its applications.

• Using cost information for business decision-making.

• Practical examples and case studies on cost management.

Unit 5:

Financial Management and Internal Controls:

• Principles of financial management.

• Managing working capital and cash flows.

• Importance of internal controls in financial management.

• Designing and implementing effective control systems.

• Best practices in financial risk management and compliance.