Advanced Financial Accounting

General

Program Description

Overview

The course includes site visits to organizations relevant to the course so delegates can develop an understanding of how their contemporaries function in the real world.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to applying the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Accounting Basics

  • Accounting concepts
  • Steps in the accounting cycle
  • The objectives of financial reporting
  • Financial reporting standards

The Profit and Loss Statement

  • Measurement of income
  • Types of costs and expenses
  • The many levels of profit
  • Opex and Capex

The Balance Sheet

  • Constituents of the balance sheet
  • The fundamental accounting equation
  • Importance of working capital
  • Exercise – prepare a set of accounts

Site Visit

  • Industrial visit to a relevant organization.
  • An insight into the internal working of companies.
  • An opportunity to learn through interaction with practising professionals.

Cash-flow Statements

  • Cash is king!
  • Understanding the sources and uses of cash
  • The difference between cash flow and profit
  • Exercise – Prepare a Cash Flow Statement

Financial Management

  • Types of financial management
  • Analysing financial statements
  • Reporting to shareholders
  • Creative accounting – managing policies and procedures

Strategic Accounting

  • What is strategic accounting?
  • The Balanced Scorecard
  • Risk and Uncertainty
  • decision-making about the future

Site Visit

  • Industrial visit to a relevant organization.
  • An insight into the internal working of companies.
  • An opportunity to learn through interaction with practising professionals.

Course Review

  • Summary and recap of key learning objectives
  • Action Planning

Target Audience

This Financial Accounting course is suitable for:

  • New accounting staff who need to understand the financial accounting function holistically.
  • Accountancy staff with no formal qualifications.
  • Accountancy staff in pursuit of promotion.
  • Accountancy staff who need to have a deeper understanding of accounting and how this can improve results.
  • Anyone who wants to understand how the financial function relates to the general management of an organization.

Learning Outcomes

Upon completion of this Financial Accounting course, you will be able to:

  • The links between accounting principles and the preparation of financial statements.
  • Definitions of the content and functions of the two key financial statements.
  • How to prepare a set of financial statements from scratch.
  • Explain the relevance of cash flow and how it is reported.
  • Define the function of financial management.
  • Show how organizations use accounting to create and monitor their strategies.
  • Develop a practical perspective on contemporary work practices in your field.
  • Implement an Action Plan at your workplace using the knowledge and skills acquired through the course.
Last updated Jan 2021

About the School

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all o ... Read More

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all over the world. Read less