This program aims to provide non-accounting professionals a knowledge about main accounting concepts, main financial statements, introduction about cost accounting, introduction about budgeting and application of some principles of management accounting.
- Gain an insight on the fundamental principles and concepts underlying income determination in business
- Explain the accounting process, structure accounting entries, and recognize basic lapses in transaction recording and financial reporting
- Appreciate the contents, purpose, usage, and limitations of financial statements, i.e., balance sheet, income statement, and cash flow statement for decision-making purposes
- Explain the preliminary budgeting concepts
- Explain the preliminary cost accounting concepts
Who Should Attend?
Managers, supervisors and staff from any function including the accounting department who need to improve understanding and application of accounting techniques.
By the end of the program, participants will be able to:
- Define accounting and the accounting cycle.
- Identify the major rules and principles of accounting under the International Financial Reporting Standards (IFRS).
- Demonstrate knowledge of the basic accounting equation and double-entry bookkeeping, and touch base with the new automated accounting systems.
- List the key financial statements (balance sheet, income statement, changes in shareholders’ equity and cash flow statement) and their components.
- Account for financial statements’ adjustments at end of period.
- Define the audit function and determine the different audit opinions.
- Introduction about cost accounting including cost accounting terms, cost classification, cost accounting systems and flow of cost of inventory.
- Introduction about budgeting including budgeting concepts, systems and approaches and roles.
- Introduction to decision making under the umbrella of management accounting.