In this course, participants will gain a clear understanding of the concept, objectives, and branches of accounting. They will explore the inputs and outputs of the accounting system, as well as all stages of its operation, including recording, posting, balancing, and preparing financial reports. The course also covers the preparation of financial statements and the use of accounting data and financial information to support sound decision-making and improve the quality of managerial decisions.
TARGET AUDIENCE FOR THE COURSE:
- Managers of companies and institutions in both the public and private sectors
- Heads of procurement, sales, import, and export departments
- Professionals in investment departments
- Engineers involved in financial or commercial functions
COURSE OBJECTIVES:
- Understand the concept, goals, and branches of accounting
- Learn the inputs and outputs of an accounting system
- Master the steps in the accounting cycle (recording, posting, balancing, financial reporting)
- Learn how to prepare financial statements
- Use accounting data and financial information in decision-making
- Make informed decisions and improve the quality of decisions taken
TRAINING METHODOLOGY:
- Group discussions
- Brainstorming sessions
- Practical and case-based exercises
DURATION:
- 4 Days
- 4 Training hours per day
COURSE TOPICS:
❖ Introduction to Accounting and Financial Reporting
- Types of accounts (Assets, Liabilities, Revenues, Expenses, Capital)
- The accounting cycle within economic entities
- Types and formats of financial statements
- Financial and accounting books and records
- The accounting equation for financial position
- The profit and loss equation
- Generally accepted accounting principles (GAAP)
- Case studies and practical exercises
❖ The Nature of Basic Financial Statements
- Income Statement (Profit or Loss Statement)
- Statement of Other Comprehensive Income
- Statement of Changes in Equity
- Statement of Financial Position (Balance Sheet)
- Cash Flow Statement
- Case studies and practical exercises
❖ Financial Analysis as a Decision-Making Tool
- Definition of financial analysis
- Purposes of financial analysis
- Key elements of effective financial analysis
- Sources of data for financial analysis
- Types of financial ratios used in analysis
- Practical applications in analyzing financial statements
❖ Break-Even Analysis
- Understanding the break-even point
- Uses of break-even analysis
- How to calculate the break-even point
- Factors affecting the break-even level
- Margin of safety
- Case studies and practical exercises
