Course Description:

The today’s accountant works in an environment continuously changes. His role has been changed by globalisation, which has created a worldwide marketplace with a new level of competitiveness for every business, and improved and cheaper technology used in recording, processing and reporting of financial information.

This 5-day course examines the developing role of the accountant in business and encourages participants to address how they may make a contribution to the effective management of the business.

Course Goal:

To enhance the participant’s knowledge, skills, and abilities necessary to be an effective accountant

Course Objectives:

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

1. Understand the sources of information in the business
2. Examine how this information is organised, classified and presented
3. Utilise effective analytical tools to understand the business
4. Effectively participate in the management of his business
5. Critically review the financial and other management systems of his business
6. Understand how changes have impacted the role and effectiveness of the accountant in business

Course Outline:

• Accounting as an Information System

1. Sources of Information
2. Users of Financial Information
3. External and Internal Users
4. Information Flow in a Business
5. Quality of Information and Decision Making
6. Financial (External) and Management (Internal) Accounting

• Financial Reporting

1. Internal and External Reporting
2. Income Statement and Profitability
3. Balance Sheet and Financial Strength
4. Cash Flow Statement
5. Understanding Financial Statements
6. Employing Other Financial Analysis Techniques
7. Interpreting Results and Making Comparisons Between Businesses

• Management Reporting

1. The Emphasis on the Customer and the External Environment
2. Management Accounting and Reporting
3. Timing and Accuracy of Data Collection and Reporting
4. Benchmarking
5. The Balanced Scorecard

• Product Costing

1. Cost Concepts: (Cost, Loss, waste, Expense, Expenditure…)
2. Cost Classification
3. Different Costs for Different Purposes
4. Different Costing Methods Used in Business

• Absorption Costing
• Standard Costing
• Activity-Based Costing

• Planning, Budgeting And Forecasting

1. Long and Short-Term Planning
2. Budgets for Managing Resources
3. Departmental Budget
4. Basic Forecasting Techniques
5. Comparing Actual Performance with the Budget