Finance and Accounting Essentials

 

• Government Agencies Regulatory/Accounting bodies- Standards

(IFRS and GAAP)

• Types of Reports: Internal vs External

(Monthly, Quarterly, Half Yearly and Annual)

• Internal and External Audits

• Sources of information

• Analysing Tools for Preparing Financial Statements

• Understanding Double Entry Concepts

• Accounting Terminology within Financial Statements

• Bookkeeping and Recording Transactions- Journals, Cash Book, General Ledger

• Understanding Income Statements (Profit and Loss) Understanding Income,Balance Sheet (Assets, Liabilities Equity) Understanding Cash Flows (Operating, Investing Financing)

• Analysing Interpreting Financial Statements Understanding Budgeting

• Capital Expenditure treatment

• Understanding Ratios (Performance,Liquidity Leverage) Investment Analysis

• Understanding payback periods, cost of capital and rates of returns Product costing

• Tax deductions and credits Capital gains vs. Ordinary Income Income tax summary