- Learn the objectives and techniques of forecasting
- Understand the difference between cash flow and profit
- Prepare forecasts using different sources of information
- Understand the factors to consider when performing forecasts
- Learn the Dos and Don’ts of forecasting
- Understand and prepare a cash flow forecast
- Understand the basics of capital expenditure forecasting
- Update forecasts for actual results and evaluate actual results against forecasts
- Learn how to monitor, report and make decisions based on forecasts
- Use forecasting as a performance measurement tool
- Prepare a forecast (comprehensive case study)
- Forecasting objectives
- Forecasting techniques
- Cash flow, profit, assets and liabilities
- The accounting process
- Preparing forecasts
- Cash flow forecasting
- Capital expenditure forecasting
- Monitoring, reporting and decision making
- Forecasting as a performance measure
- Comprehensive case study
- Define accounting and the accounting cycle.
- Identify the major rules and principles of accounting under the International Financial Reporting Standards (IFR)
- List the key financial statements (balance sheet, income statement, changes in shareholders’ equity and cash flow statement) and their components.
- Account for financial statements’ adjustments at end of period.
- Financial Accounting
- Introduction to financial accounting and its objectives (flow of basic accounting(
- Accounting assumptions, principles, elements, and standards.
- Basic definitions used in accounting system to different users.
- Cash and accrual basis of accounting.
- Budget vs. spend concept and types of commitments.
- The fundamental equation of accounting (Rules of debits and credits).
- Preparation and presentation of basic financial statements under IFRS/ IAS :
- Classified balance sheet / statement of financial position, content and objectives.
- Comprehensive income statement, content and objectives.
- Statement of cash flows, content and objectives.
- Case studies and exercises on most of the subjects covered above.
- Financial Analysis and financial ratios :
- Understanding financial analysis, uses, goals, and objectives.
- Basic techniques used in financial analysis: horizontal, vertical and ratios.
- Types of ratio analysis: liquidity, profitability, activity, solvency, and cash flows analysis.
- Applying Altman’s Z- score to measure the financial health of entities.
- Case studies and exercises on most of the subjects covered.
- understanding of the fundamentals of effective management of cash flow, including the optimization of the level of working capital.
- Develop practical experience of how to manage cash flow and optimize working capital to facilitate such delivery in real life business situations.
- Increase personal financial skill levels
- Develop confidence through understanding the major drivers of successful financial performance.
- Learn a number of technical skills, all of which lead to the ability to calculate the required figures and implement them into value adding business decisions
- Understanding Cash Flow Management
- Managing Short Term Finance Decisions
- Managing the Collection System
- Managing the Disbursement Systems
- Managing Corporate Liquidity
- Measuring and Managing Liquidity
- Managing the Short-Term Investment Portfolio
- Managing Short-Term Borrowing from Commercial Banks
- Managing Nonbank Sources of Short-Term Credit
- Managing Working Capital
- Managing Credit and Collections
- Managing Credit Policy and Accounts Receivable
- Managing Accounts Payable and Accruals
- Managing and Financing Inventories
- Managing and Forecasting Cash Flows
- Exploring Cash Flow Dynamics through the Financial Statements
- Projecting Cash Flow Decisions
- Design and produce the Accounting and Finance Manual.
- Plan the required resources needed for the department.
- Establish authorities and duties in the department for maximizing efficiency and effectiveness.
- Achieve segregation of duties and internal controls in the department.
- Set comprehensive policies and procedures to streamline accounting operations.
- Acquire a reference explaining essential accounting assumptions and their application.
- Answer the questions: “who does what?” and “how to do it?” by formulating standard and reliable accounting processes.
- Designing the Accounting Manual
- Purpose of the Accounting Manual
- Authorities Assigned to Accounting Personnel
- Organization of the Accounting Manual
- Accounting Department Setup Planning
- Planning for Proper Reporting
- Planning for Human Resources versus Software – HRVSS
- Accounting Concepts and their Application
- Underlying Accounting Assumptions
- Accrual Basis of Accounting versus Cash Basis
- Going Concern Assumption
- System and Reliability of Measurement
- General Concepts of Assets, Liabilities, Income and Expense
- Accounting Procedures General
- Setting Chart of Accounts
- Accounting Structure
- Exchange Rate Differences
- Accounts and Cost Centers
- Prepaid and Accrual Concepts and Treatments
- Essential Budgeting Policies
- Financial Statements Issuance Steps
- Financial Analysis and Comparisons to Budget