Advanced Financial Accounting

Financial Accounting course with UK’s premier business and management training service provider – London Business Training & Consulting. Book Now!

Upon completion of this Financial Accounting course, you will be able to understand:
The purpose of accounting.
Why non-accountants need to understand accounting.
The basic terminology of business transactions.
How to prepare a cash budget.
The gross profit margin of a product and business.
The difference between cash and the profits of a business.
That a set of financial statements can be prepared from data included a trial balance.
The difference between revenue and capital expenditure and the significance of the distinction.
How to prepare a simple statement of profit or loss.
The purpose of a statement of financial position.
The assets and liabilities in a business.
What an accrual and a prepayment are and how to account for them.
How to prepare a statement of financial position for a simple business.
Why non-current assets need to be depreciated.
How to use the straight-line and the reducing-balance methods of providing for depreciation.
Why we need to provide for bad and doubtful debts.
How to prepare a final adjusted statement of profit or loss and statement of financial position.
Some of the limitations of a statement of financial position.
The nature of a limited company.
The main external sources of finance available to limited companies, and their characteristics.
The role of a stock exchange.
The reporting requirements placed upon the directors of a company.
How to prepare a statement of profit or loss and a statement of comprehensive income for a limited company.
How to prepare a statement of financial position for a limited company.
The purpose of a statement of changes in equity.
The importance of reliable corporate governance.
The crucial importance of cash to a business.
The difference between profit and cash.
How to prepare a simple statement of cash flows.
Who uses financial statements and what their needs are.
How to calculate and interpret ratios that enable you to comment on a business’s profitability, liquidity, and efficiency.
How to calculate and interpret ratios that enable you to comment on a business’s capital structure, investment returns, and performance.
The limitations of ratio analysis.