Certified Professional In Financial Accounting Management And Auditing (Basic To Expert Level)

For internal employees who want to understand and expand their roles related to financial reporting, as well as those who simply need a refresher on financial accounting, this course is the ideal way to get up to speed.

By exploring concepts that go beyond basic accounting, this course will enable participants to approach financial auditing with renewed confidence.

The programme will walk participants through an analysis of an organization’s financial statements using case study exercises, where participants will calculate key ratios and analyse trends over time. Engaging in discussions on both historic and current fraud cases, participants will learn how to recognize “red flags” in financial statement reporting.

After attending this workshop, participants will be able to:

• Participants will learn how key business processes relate to financial statements, as well as the impact of technology on financial auditing. The course will walk participants through an analysis of an organization’s financial statements using case study exercises, where participants will calculate key ratios and analyze trends over time.
• The programme will walk participants through an analysis of an organization’s financial statements using case study exercises, where participants will calculate key ratios and analyze trends over time. Engaging in discussions on both historic and current fraud cases, participants will learn how to recognize “red flags” in financial statement reporting.

Who should attend?

• Finance Executives and Professionals
• Accountants
• Accounts Receivable Managers
• Accounts Receivable Supervisors
• Accounts Receivable Personnel
• Others who are working within accounts receivable process or who wish to develop a practical toolkit to complement their existing professional or technical skills

Training Methodology

Training course will utilise a variety of proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented.

This training course is an interactive mixture of lecture, discussion, activities and practice on several management skills. It provides definitions, examples, discussion and activities designed to promote skill building with interaction and discussion among participants.

Course Outline

Financial Accounting (Basics)

Module 1. Basics of Accounting

• What is accounting?
• Bookkeeping
• Financial accounting
• Managerial accounting
• Income taxes

Module 2. Managerial Accounting

• A closer look at managerial accounting
• Product costing
• Break even
• Budgets
• Real life examples of managerial accounting

Module 3. Financial Accounting

• Financial accounting
• Overview of the balance sheet
• Balance sheet example
• Limitations of the balance sheet
• Differences between the balance sheet and income statement
• Overview of the income statement
• Income statement example
• Overview of the cash flow statement
• Cash flow example
• Summary of financial reporting
• Real life examples of financial accounting

Module 4. Income Taxes

• Tax brackets and tax rates
• Tax deductions and credits
• Capital gains vs. ordinary income
• Income tax summary

Module 5 : High level understanding of Financial accounting

• Recording Business Transactions
• Accrual Accounting
• Internal Control and Cash
• Accounts Receivables and Notes Receivables
• Inventory and Merchandising Operations
• Fixed Assets, Intangible Assets and Financial Asset Investments
• Current and Long-term Liabilities
• Shareholders’ Equity
• Financial Statement Presentation and Analysis
• Statement of Cash Flows

Module 6 : Auditing

• Financial Audit Overview
• Stages of an Audit
• Compliance & Regulations
• International Standards on Auditing
• Financial Statements Analysis
• Income Statement
• Balance Sheet Statement
• Cash Flow Statement
• Ratio Analysis
• Computer-aided Audit Tools
• Fraud Detection Techniques
• Auditor's Report