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.

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 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.

Business Financial and Accounting Skills