Business Managers, irrespective of their specific disciplines are saddled with the responsibility of driving and achieving business success vital for survival, growth and sustainability. Financial acumen is a critical in achieving this.
This course is designed to provide (non-finance) managers with a solid understanding of the financial and accounting processes that you will encounter in your everyday work. Through case studies and class discussions you will gain the knowledge to view your company from a financial perspective and be taught accounting terms and concepts to help you manage financial matters with confidence.
On this course, participants will be given real set of financial information to enable their understanding and enhance participation, as well as improve their commercial and general financial awareness. Topics covered are of broad and general interest, but also include those areas where finance and accounting are most likely to influence the management of commercial negotiations and, ultimately, business value.
At the end of the programme, participants will be able to:
- Know the meaning of, and nature of accounting
- Understanding of fundamental accounting principles and practices
- Read/interpret statements of accounts, annual reports and other financial documents
- Analyse financial reports and develop necessary strategies and action plan based on the report.
- Align (their) strategies and activities on (with) their respective roles and function(s) with the organizational goals and(to) enhance the business financial performance
- Understand the principles of budgeting and budgetary control.
Key discussion points:
- Understanding Basic Books of Accounts and Records to enhance accountability
- Cost Classification
- An Understanding of the Income Statement
- Financial Tools for Business Decisions
- Basic Internal Controls Procedures
- The income registers
- Expense Authorisation
- Account receivables and payables
- Bank Reconciliation Statements
- Understanding Balance sheet, Cash Flow and Its Significance
- Petty Cash Management
- Interpretations for Management Effectiveness
- Current Developments in Accounting - IFRS and IPSA and others