Financial accounting is the systematic process of recording, summarizing, and communicating a company's financial transactions and performance to external stakeholders. It involves preparing financial statements, such as the income statement, balance sheet, and cash flow statement, following generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS). Financial accounting provides a transparent and standardized view of a business's financial health, aiding investors, creditors, and regulators in assessing its viability and making informed decisions.
Class Sessions
1- Introduction
2- Organisational structures: Understand different types and their financial reporting requirements.
3- PESTEL analysis: Explain and apply to analyse external factors affecting organisations.
4- Introduction
5- Macroeconomic factors: Understand the key factors and their impact on organizations.
6- Microeconomic factors: Understand the key factors and their impact on organizations.
7- International business environment: Understand the significance of macro and microeconomics in an international context and their impact on organization.
8- Introduction
9- Mathematical Accounting Methods.
10- Use mathematical techniques in accounting.
11- Create and use graphs, charts, and diagrams of financial information.
12- Apply statistical methods to provide financial and accounting information.
13- Introduction
14- Financial Accounting:
15- Inventory valuation methods and calculations
16- Year-end adjustments and accurate accounting
17- Preparation of final accounts for sole traders and partnerships
18- Assessment of financial statement quality
19- Introduction
20- Budgeting: Understanding the role of budgeting, preparing budgets accurately, and analyzing budgets for organizational performance.
21- Standard Costing: Understanding the purpose of standard costing, calculating and interpreting variances accurately, and evaluating the advantages.
22- Capital Expenditure and Appraisal Techniques: Understanding key capital expenditure appraisal techniques, calculating payback, ARR, NPV, and IRR accuracy.
23- Costing Techniques: Differentiating between marginal and absorption costing, understanding job, batch, and process costing methods, using service cost.
24- Introduction
25- Leadership and Management in Accounting: Understand theories, motivation, and teamworking.
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