INTRODUCTION
All business decision-making involves analyzing situations containing varying degrees of risk. This Programme uncovers the essential skills required to understand the processes of budgeting and cost control for better decision-making. From understanding the importance of a well-defined budget process through to the importance of how costs behave so that realistic cost cutting and budgeting plans can be produced. In this Programme you will learn how to:
Duration
10 Days
Who should Attend
Managers, Finance managers, Accountants, Internal auditors, Non-Finance managers and officers interested in hands-on skills in areas such as preparation and interpretation of financial statements.
Course Level:
Objectives:
- By the end of the program, participants will be able to:
- Define the accounting cycle.
- Discover how accounting affects their day-to- day business.
- Outline the components of financial statements.
- Perform every step of the accounting closing cycle.
- Get up-to-date with accounting terminology that will enable them to perform more effectively at work.
COURSE OUTLINE
Introduction to Accounting
- Importance of Accounting and the Accounting Cycle
- Accounting Regulatory Bodies
- International Financial Reporting Standards (IFRS)
- Generally Accepted Accounting Principles (GAAP)
- Accounting Rules Updates and Changes
- Stakeholders and Users of Accounting Information
- Company Structures and Business Activities
- Accounting Principles and Guidelines
- Other Characteristics of Accounting Information
- How Principles and Guidelines Affect Financial Statements
Analyzing Transactions
- Identifying Account Names
- Classifying Accounts
- Interpreting Account Movements
The Double Entry Accounting
- Debits and Credits
- The Importance of T-Accounts
- The 7 Rules of Debits and Credits
- Sub-Ledgers and General Ledgers
- Preparing Trial Balance
Adjustment Process
- Adjusting Assets and Liabilities, Revenues and Expenses:
- Accrued Liabilities / Expenses and Revenues
- Deferred Assets / Expenses and Revenues
- The Process of Preparing Adjusted Trial Balance
- Adjustments for Contra-Accounts
Closing Process
- The Four Important Closing Entries
- Using the 10-Column Worksheet
- Preparing Financial Statements:
- Income Statement
- Balance Sheet
- Understanding and Preparing Closing Trial Balance
Assets Accounting and Reporting
- Accounting and Presentation of Cash, Petty Cash and Cash Reconciliation
- Accounts Receivable and Allowances
- Inventory Costing and Valuation
- Recording and Maintaining Fixed Assets
- Depreciation and Accumulated Depreciation
- Intangible Assets and Other Non-Current Assets
Current Liabilities and Accruals
- Accounts Payable and Notes Payable
- Accrued Liabilities
- Short and Long-Term Loans
Understanding Shareholders’ Equity
- Share Capital
- Retained Earnings
- Government and Management Reserves
Related Courses
Course Administration Details:
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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