FINANCIAL ACCOUNTING AND TAXATION TRAINING COURSE

Objective:

• Develop a comprehensive understanding of financial accounting principles and practices
• Interpret and analyze financial statements to support effective business decision-making
• Understand accounting management within modern business organizations
• Apply taxation principles and comply with current tax laws and regulations
• Evaluate working capital, budgeting, and capital investment decisions to improve financial performance
• Understand the role of Enterprise Resource Planning (ERP) systems in financial management

Content:

Financial Accounting Fundamentals

• Understanding accounting conventions and principles
• Applying accounting policies
• Revenue recognition principles
• Lessons from the WorldCom and Enron accounting scandals
• International Accounting Standards (IAS)
• International Financial Reporting Standards (IFRS)

Financial Reporting and Statement Analysis

• Components of financial reports
• Preparing and interpreting the balance sheet
• Understanding the profit and loss statement
• Preparing the statement of cash flows
• Statement of changes in equity
• Accompanying notes to the financial statements
• Financial ratio analysis
• Vertical and horizontal financial statement analysis

Taxation Principles and Practice

• Understanding income versus taxable income
• Income tax administration
• Corporation tax
• Value Added Tax (VAT)
• Customs and excise duties
• Timing differences and deferred tax

Working Capital Management

• Inventory control and management
• Managing accounts receivable
• Managing accounts payable
• Reconciling sub-ledgers
• Managing current assets and current liabilities

Enterprise Resource Planning (ERP)

• ERP applications in sales management
• Bill of materials management
• Material management processes
• Procurement management
• Production management
• Financial management within ERP systems

Capital Investment and Financial Decision-Making

• Capital investment appraisal techniques
• Return on Investment (ROI)
• Payback period analysis
• Net Present Value (NPV)
• Internal Rate of Return (IRR)
• Lease versus buy decision-making
• Tax implications of capital investments

Budgeting and Financial Planning

• Preparing a master budget
• Fixed and flexible budgeting techniques
• Quarterly budget reviews
• Forward financial planning
• Budget versus actual performance analysis
• Zero-based budgeting

For Whom:

• Finance Managers
• Accounting Managers
• Tax Consultants
• Financial Controllers
• Financial Advisors
• Finance Directors
• Chief Financial Officers (CFOs)
• Certified Public Accountants (CPAs)
• Certified Industrial Accountants
• Finance and Accounting Professionals seeking to strengthen their financial reporting and taxation expertise