Finance and Accounting Fundamentals
Overview:
Introduction:
This training program covers the essential concepts and practices in finance and accounting, providing participants with a strong foundation in financial management and accounting principles. It empowers participants to make informed financial decisions and apply accounting techniques effectively within their organizations.
Program Objectives:
By the end of this program, participants will be able to:
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Understand fundamental finance and accounting concepts.
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Analyze and interpret financial statements.
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Manage budgets and financial resources efficiently.
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Apply accounting principles to business operations.
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Make informed decisions based on financial analysis.
Targeted Audience:
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New finance and accounting professionals.
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Business managers and executives.
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Entrepreneurs and business owners.
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Non-financial managers seeking financial literacy.
Program Outline:
Unit 1:
Introduction to Finance and Accounting:
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Basic finance and accounting terminology.
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The role of finance and accounting in business.
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Overview of financial statements: Income statement, balance sheet, and cash flow statement.
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Understanding the accounting cycle.
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The relationship between finance and accounting.
Unit 2:
Financial Statements Analysis:
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How to read and interpret financial statements.
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Key financial ratios and their significance.
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Analyzing profitability, liquidity, and solvency.
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Common size analysis and trend analysis.
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Practical exercises in financial statement analysis.
Unit 3:
Budgeting and Financial Planning:
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Importance of budgeting in financial management.
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Steps in the budget preparation process.
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Types of budgets: operating, capital, and cash budgets.
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Techniques for effective budget management.
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Case studies on budgeting in different industries.
Unit 4:
Cost Accounting and Control:
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Understanding cost behavior and classification.
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Costing methods: job order, process, and activity-based costing.
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Break-even analysis and its applications.
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Cost control and reduction techniques.
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Role of cost accounting in decision-making.
Unit 5:
Financial Decision Making:
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Time value of money concepts.
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Investment appraisal techniques: NPV, IRR, and payback period.
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Risk assessment in financial decision-making.
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Financing options: equity, debt, and hybrid instruments.