Accounts Assistant Essential Training

Introduction

Comprehending and interpreting financial information is vital for all levels of personnel, both within and outside the finance function, if they are to properly contribute to the success of the business.

In this Course you participants will learn:

• Full understanding of financial information and reporting supported by a foundation of the important aspects of theory together with practical methods and techniques.

Objectives

• Comprehend the basic areas of accounting and finance, the terminology and the structure.
• Learn a range of practical analytical skills for interpreting and handling financial information.
• Comprehend the vital components of accounting in the context of a practical working environment.
• Have confidence in dealing with financial information, particularly when reviewing other companies’ financial data.
• The ability to read and interpret information presented in financial reports.

Course Outline

Day 1

Comprehending different kinds of Financial Information

• Who uses financial information and why?
• The flow of information in a company.
• Recognising different kinds of information and what it is derived from.
• Fundamental accounting terminology explained.
• Reporting formats.

Day 2

The Cash Cycle

• Cash versus profit.
• The flow of money in and out of a company.
• How this is managed and controlled.
• Customers & Suppliers: The collection and payment processes.
• Where finance comes from.
• Basic cash flow statements.

Day 3

Inventory and Fixed Assets

• Establishing the value of a companies’ inventory.
• Different techniques of valuation.
• How fixed assets are recorded.
• Asset lives and depreciation.
• The physical verification of assets.

Day 4

Financial Statements

• Comprehending the composition of the Profit and Loss Account.
• Computing profitability ratios.
• The Balance Sheet explained.
• Utilising financial ratios.
• Interpreting results and making comparisons between companies.

Day 5

Costing and Budgeting

• How we classify costs and set standards.
• Different costing methods used in business.
• Basic forecasting techniques.
• Preparing a departmental budget.
• Comparing actual performance with the budget.