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Financial and Management Accounting in Shipping Industry

المحاسبة المالية والإدارية في صناعة النقل

Description:

This is a practical 10-day workshop covers the financial and accounting issues associated with shipping industry. Using real examples and exercises, the participants will learn how to deal with those issues.

Goal:

To enhance the participants' knowledge, skills, and abilities necessary to understand and apply the concepts, principles, policies, and methods of Accounting in shipping industry

Objectives:

By the end of this course, the participant will be able to:

  • Understand the accounts of companies in the shipping business.

  • Communicate intelligently with professional accountants on matters of management accounts, statutory accounts and methods of financing.

Outlines:

  • Accounting Systems and Structure
  • Accounting Systems
  • Structures to Report to Management, Shareholders and to Comply with Statutory Requirements and the Financial Data Required to Satisfy These Needs.
  • Concepts and Conventions
  • The Business Entity
  • Distinction Between the Business and its Owners
  • Money as a Measurement Medium and Unit of Account
  • Conventions
  • Going Concern
  • Accruals
  • Consistency
  • Prudence and Recommended Practices
  • Financial Reports
  • Statutory Requirements Concerning Preparation of Annual Report and Accounts
  • Trial Balance
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement.
  • Interpretation Of Financial Information
  • Annual Accounts
  • Financial Press
  • Ratio Analysis
  • Inter-Company Comparison.
  • Budgeting and Forecasting
  • Cost Concepts and Classifications
  • Need for Budgetary Control
  • Preparation of Budgets
  • Using Budgets for Forecasting
  • Forward Planning
  • Cost Behavior
  • Variance Analysis.
  • Cash Flow Management
  • Preparation of Cash Flow Statements and Working Capital Requirements
  • Investment Appraisal
  • Appraisal Methods
  • Depreciation and Replacement of Assets
  • Return on Capital Employed.
  • Financing
  • Borrowing
  • Leasing
  • Retaining Funds
  • Sale and Leaseback
  • Financial Institution Loans
  • Stock Exchanges.
  • Shipping Accounts Freight and Hire Collections
  • On/Off Hire Statements
  • Port Disbursement Accounts
  • Voyage Estimates and Port-Voyage Audit
  • Foreign Currency Transactions.
  • The Role of the Computer in Accounting.