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Comprehensive Basic Accounting Training

By: Tom Associates Training  

Lagos State, Nigeria

13 - 17 Mar, 2017  5 days

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NGN 162,750

This programme takes the employees responsible for running the Accounts and Finance functions of the organization through their core duties. They will be taken through the step-by-step process of performing each task. The core duties are:

  • Implementing all processes in accounting for financial transactions and enforcing the controls necessary for the running of the organization’s business.
  • Liaising with external auditor and others involved in matters of statutory regulations, including pension fund managers, the tax organizations, etc.
  • Preparing financial and other relevant reports at such intervals that help Management decisions for the organization to run smoothly. These include:
    • Weekly performance report
    • Daily balances and advice on managing the balances
    • Bank reconciliation
    • Variance analysis
    • Management of the cash flow position
    • Monthly trial balance, income statement and balance sheet
    • Budgeting and budgetary control.

Course Contents

Day One

  • Interpretation of Financial Statements
  • The three financial fundamentals
  • The Balance Sheet - Interpreting Assets and Liabilities
  • The Income and Expenditure Statement
  • Diagnosing the Cash Flow Position and Requirements
  • How do you know if the organization is performing well?
  • Budgeting
  • Budgets and budgeting cycle
  • Steps in developing an operating budget
  • Preparation of budgets
  • Sensitivity analysis in budgeting
  • Budgeting and responsibility accounting

Day Two

  • Control Systems
  • The Internal Control System - Preventive, Detective and Directive
  • Distinction between Internal Check and Internal Auditing
  • How to Use Internal Control to Promote Operational Efficiency
  • Internal Control and Risk Management - the Inherent Limitations
  • Elements of Internal Control
  • Internal Control on receipt of cash/cheques 
  • On cash and cheque payments
  • On the organization reconciliation; 
  • On stock/inventories, sales, etc.
  • Operational auditing 
  • Approval of controls
  • Evaluation of performance
  • Purchasing
  • Production
  • Administration
  • Personnel
  • Fixed Assets. 

Day Three

  • Internal Auditing
  • Reviewing and Appraising Operating Controls 
  • Compliance with policies, plans and procedures
  • Safeguard of assets
  • Detection and prevention of frauds
  • Economical and efficient use of resources
  • Accomplishment of established objectives and goals for operation
  • Internal auditing and the maintenance of a sound system of internal control 
  • Responsibility for the system of internal control - auditor or management
  • Internal Audit Charter  
  • Understanding the nature and context of internal control
  • Management Involvement - Reviewing the effectiveness of internal control
  • Responsibility for reviewing the effectiveness of internal control system
  • The process of reviewing effectiveness
  • Business objectives
  • Risk identification and assessment
  • Monitoring of controls.

Day Four

  • Cash flow Management
  • What cash flow statement is
  • What the purpose of cash flow statement is
  • Preparation of cash flow statement
  • How to make operational, investing and financing decision when preparing cash flow
  • Key performance indicators for cash flow
  • Action to take when there is surplus or deficit fund
  • Source of Finance
  • Tax Management
  • Types of taxes
  • What taxes are payable to Federal, State and Local Government
  • Corporate Tax planning 
  • How to compute company income tax and capital allowance
  • Filling of Self-Assessment return and VAT return
  • Withholding Tax and its application
  • Capital Gains Tax
  • Application for company and Personal Tax clearance certificate
  • How to prepare Personal income tax
  • Payment of Pay As You Earn deductions
  • Rendering of annual return to State Internal Revenue Board.

Day Five

  • Financial Reporting and Management
  • Types of Financial Report and How to Prepare Them
  • Revenue analysis report
  • Cost analysis report
  • Expenses report
  • Account receivable report
  • Chairman’s report
  • Auditor’s report
  • Balance sheet
  • Profit and loss statement
  • Cash flow statement
  • Financial performance report
  • Benefits of Financial Report
5/7 Alade Lawal Street, Opposite Divisional Police Station, Off Ikorodu Road, Anthony, Lagos. Registration: 8.30 - 9.00 a.m. Mar 13 - 17 Mar, 2017
NGN 162,750.00(Including VAT)
(Convert Currency)

08033019120

Discount of 5% to 3-4 participants from same organization. Discount of 10% to 5 or more participants from same organization.
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