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Comprehensive Basic Accounting Training

By: Tom Associates Training  

Lagos State, Nigeria

13 - 17 Jul, 2020  5 days

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NGN 180,000

Venue: 5/7 Alade Lawal Street, Off Ikorodu Road, Anthony Village, Lagos

Other Dates

Venue Date Fee  
37 Offa Road, Along Way To Flower Garden, G.R.A, Ilorin, Kwara State., Lagos State, Nigeria 24 - 28 Aug, 2020 NGN180000
5/7 Alade Lawal Street, Off Ikorodu Road, Anthony Village, Lagos, Lagos State, Nigeria 07 - 11 Dec, 2020 NGN180000

This programme takes the employees responsible for running the Accounts and Finance functions of the organisation 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 organisation’s business.
  • Liaising with external auditor 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 that help Management decisions for the organization to run smoothly. These include:
  1. Weekly performance report
  2. Daily balances and advice on managing the balances
  3. Bank reconciliation
  4. Variance analysis
  5. Management of the cash flow position
  6. Monthly trial balance, income statement and balance sheet
  7. Budgeting and budgetary control.

Course Content

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 organisation 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

Cashflow Management

  • What cash flow statement is
  • What the purpose of cash flow statement is
  • Preparation of cashflow statement
  • How to make operational, investing and financing decision when preparing cashflow
  • key performance indicators for cashflow
  • 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 Three

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 organisation 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
  • 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 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, Off Ikorodu Road, Anthony Village, Lagos Jul 13 - 17 Jul, 2020
37 Offa Road, Along Way To Flower Garden, G.R.A, Ilorin, Kwara State., Lagos State, Nigeria 24 - 28 Aug, 2020
5/7 Alade Lawal Street, Off Ikorodu Road, Anthony Village, Lagos, Lagos State, Nigeria 07 - 11 Dec, 2020
NGN 180,000.00(VAT Inclusive)
(Convert Currency)

MR ABIODUN TOKI 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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