Accounting is often called the language of business; it is the language that managers use to communicate the firm's financial and economic information to external parties such as shareholders and creditors. Nobody working in business can afford financial illiteracy.
The story of any company, no matter the size, the industry, or the country of origin, is told through its financial records and reports. Income, debt, revenue versus expenses, compensation, and cost of retaining customers can all be found on financial statements.
Even for non-financial managers, there comes a point you have to provide financial justification for what you're doing, and you have to make decisions based on numbers that come from other people. If you don't know what you're looking at, and you don't know the right questions to ask, your effectiveness is diminished.
This popular Coventry Academy training course will introduce you to the language of finance and accounting, and help delegates understand the systems and procedures of accounting systems used by business enterprises.
Quais são os objectivos?
By the end of this Coventry Academy training course, you will be able to:
Be Aware of How Financial Markets Can Support Efficient Business Operations
Read and Understand Annual Financial Reports, and Be Aware of How They Are Prepared
Understand How Business Accounting Systems Work
Identify and Appraise Wealth-Generating Investments
Apply a Range of Management Accounting Techniques to Maintain or Improve Profitability
A quem se destina este curso de formação?
This Coventry Academy training course is suitable to a wide range of professionals in all types of industries, who wish to better understand the practical benefits of accounting and finance for their business. It will be particularly useful for:
Financial and Business Advisors
Business Entrepreneurs
Members of the Operational Management Team
Those Who are Starting Their Careers in Finance and Accounting
Non-Executive Board Members on the Audit Committee
Descrição do curso
Day One: The Business Accounting System
Why we need accounting systems
Identification, recording and understanding transactions in the accounting system
The income statement (statement of comprehensive income)
The balance sheet (statement of financial position)
The statement of cash flows
Applying accounting concepts, and financial reporting standards and exercising professional judgment
Day Two: Analysing and Interpreting the Annual Financial Report
Presentation of the financial statements
The differences between assets and expenses
Depreciation of long-term assets
Inventory costs and cost of goods sold (COGS)
Analysis of the financial statements
Interpretation of the financial statements
Day Three: Management Accounting
Management accounting for effective communication and decision-making
Identifying product costs and measuring output
Cost-volume-profit (CVP) and break-even analysis
Preparing and using budgets to plan and control the organisation
Actual to budget performance comparison
Using variance analysis to drive performance improvement
Day Four: Financing and Hedging Financial Risk
An overview of financial institutions and markets
Sourcing and raising finance
Choice of the most appropriate financing
Return on investment and the cost of capital
Foreign currency transactions
Managing foreign currency exchange rate and interest rate risk
Day Five: Maintaining Growth Through Value-Adding Investment
Identifying value-adding capital investment opportunities
Investment appraisal using accounting rate of return (ARR) and payback
Discounted cash flow (DCF) techniques: net present value (NPV) and internal rate of return (IRR)
Making investment choices when funds are limited
Risk and uncertainty
Incorporating risk into the investment decision
O certificado
Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course