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“A fun way to learn accounting” Financial for Non-Finance Personnel

“A fun way to learn accounting” Financial for Non-Finance Personnel

Date: 29/06/2020 - 30/06/2020

Time: 9:00 am - 5:00 pm

Price: RM1800

Venue: Pathway Learning Academy

INTRODUCTION

Increasingly, all executives, especially those moving into managerial level need to understand and apply financial know-how in their daily work and know how the business’s operation activities are being captured in the financial reports and what can they do to help improve the business performance.
Gaining financial acumen as part of the management skills is very important for anyone wishing to progress up the career path in any organisation, regardless of their current role and responsibilities.
This 2-day practical course is designed to provide an introduction to accounting and the basic financial knowledge and skills to help you be a step ahead when it comes to taking on more responsibilities in the future, including financial management for your department.

LEARNING OUTCOME

  • You will understand the objective, purpose and concepts of accounting
  • You will be familiar with financial statements and their key components and able to read and interpret the financial data to make informed business decisions and to report business performance
  • You will understand the budgeting process and appreciate how it can be used to achieve the organization goals
  • You learn to apply financial analysis to assess profitability, financial risks and credit worthiness of a business
  • You will know how to manage working capital via various financing methods

METHODOLOGY

  • Interactive lectures with power point presentations
  • Group discussions
  • Individual exercises
  • Use of case studies

WHO SHOULD ATTEND

  • Small business directors and business owners
  • New start-up entrepreneur
  • Managers and Executives from non-accounting department
  • Non-Financial Persons leading the accounting department
  • Personnel who require accounting knowledge to prepare departmental financial reporting
  • Fresh graduate accountant

Day 1
Course Overview

  • Establish Expectations
  • Learning Outcome

Module 1 : Introduction to Accounting

  • What is Accounting ?
  • Why Accounting is Important ?
  • Business Ecosystem
  • Accounting Concepts and Principles
  • Accounting Equation
  • Double Entry System
  • Accounting Cycle
  • Finance Department
  • Form of Business

Module 2 : Business Functions

  • Sales
  • Marketing
  • Manufacturing
  • Human Resource
  • IT, Maintenance
  • Research and Development
  • Finance

Module 3 : Understanding Key Financial Statements

  • Balance Sheet / Statement of Financial Position
  • Income Statement / Statement of Comprehensive Income
  • Cash Flow Statement / Statement of Cash Flows
  • Hidden Costs

Module 4 : Break-even Analysis

  • Variable Costs
  • Fixed Costs
  • Direct Costs
  • Indirect Costs
  • Break-even point

Module 5 : Managing Working Capital with Credit Control

  • Main Elements of Working Capital
  • Working Capital Cycle
  • Control of Cash Flow
  • Improving Cash Flow
  • Proactive Credit Management
  • Customer Management
  • Credit Control Policy
  • Cash Flow Planning and Projection

Module 6 : Financing

  • Purpose of Financing
  • Types of Financing
  • Debts vs Equity
  • Categories of Financing
  • Financing from Bank
  • Documentation Required
  • Cost of Financing

Day 2

Module 7 : Basics of Budgeting

  • Why Budgeting?
  • Budget – Definition
  • Budgeting Objectives
  • Key Components of Budgeting
  • Example of Expenses to Budget
  • Budgeting Types
  • Sample Budgeted Income Statement
  • Budgeting Methods
  • Budgeting Principles
  • Budgeting Benefits
  • Budgeting Success Factors

Module 8 : Budgeting Process

  • Budgeting Process
  • Budgeting – Steps
  • Budgeting – Collect Data
  • Traditional Budgeting
  • Traditional Budgeting Challenges
  • Make Budgeting Process Easier

Module 9 : Getting Your Budget Approved

  • Budget Hierarchy With their Roles
  • Annual Budget Approval Process
  • Budget Approval - Common Issues

Module 10 : Budgeting Tips and Tricks

  • Ways to Improve Budgeting
  • Technology & Budgeting
  • BI Dashboards
  • Traditional Budgeting Pitfalls
  • Alternative method of Budgeting
  • Summary of Main Difference

Module 11 : Monitoring and Managing Budgets

  • Budget, Actual, Variance
  • Forecasting
  • Budget vs Forecast
  • Budget vs Actual Report vs Forecast
  • Sample Reports

Module 12 : Financial Analysis

  • Types of Variances
  • Vertical/Trend Analysis
  • Benchmarking
  • Financial Ratios - Introduction
  • Liquidity Ratios
  • Solvency Ratios
  • Profitability Ratios
  • Activity Ratios
  • Financial Ratios - Charts
  • Financial Ratios – Benefits

Event Properties

Date 06-29-2020 9:00 am
Event End Date 06-30-2020 5:00 pm
Individual Price MYR1,800.00
Venue
Pathway Learning Centre, Taman Equine
Taman Equine, 43300 Seri Kembangan, Selangor, Malaysia Taman Equine, Selangor 43300 Malaysia
Pathway Learning Centre, Taman Equine
MYR1,800.00