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Comprehensive Basic Accounting Training

By: Tom Associates Training  

Lagos State, Nigeria

22 - 26 Aug, 2022  5 days

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NGN 195,000

Venue: 5/7 Alade Lawal street, Ikorodu Road, Anthony Village, Lagos - Nigeria

Other Dates

Venue Date Fee  
5/7 Alade Lawal street, Ikorodu Road, Anthony Village, Lagos - Nigeria, Lagos State, Nigeria 05 - 09 Dec, 2022 NGN195000

This programme takes the employees responsible for running the Accounts and Finance functions of the behaviour 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 behaviours business.
  • Liaising with the external auditors and others involved in matters of statutory regulations, including pension fund managers, the tax organisations, etc.
  • Preparing financial and other relevant reports at such intervals 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 behaviour 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

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 decisions 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 the 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 Three

Control Systems

  • The Internal Control System – Preventive, Detective and Directive
  • The 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 behaviour reconciliation; 
    • On stock/inventories, sales, etc.
  • Operational auditing 
    • Approval of controls
    • Evaluation of performance
    • Purchasing
    • Production
    • Administration
    • Personnel
    • Fixed Assets. 

Day Four

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
  • The accomplishment of established objectives and goals for the 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 the internal control system
  • The process of reviewing the effectiveness
  • Business objectives
  • Risk identification and assessment
  • Monitoring of controls.

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.

Note: Available as Classroom Training as Well as Online Training

5/7 Alade Lawal street, Ikorodu Road, Anthony Village, Lagos - Nigeria Aug 22 - 26 Aug, 2022
5/7 Alade Lawal street, Ikorodu Road, Anthony Village, Lagos - Nigeria, Lagos State, Nigeria 05 - 09 Dec, 2022
NGN 195,000.00(VAT Inclusive)
(Convert Currency)

Tolu Jegede 08178591654

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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