Fundamentals of Finance, Accounting & Budgeting

Financial management has a key role in any business, irrespective of the size of the company. It is a crucial part of organisational management and cannot be considered as a separate task to be left to finance team. Financial management comprises of planning, organising, controlling and monitoring financial means in order to achieve organisational objectives.

This course presents the underlying framework and fundamental of Finance, Accounting & Budgeting in the context of how accounting fits into the overall business environment of contemporary society. Participants will learn how accounting functions as an information development and communication system that supports economic decision making and provides value to entities and society. As well this course provides an overview of the essential tools and the skills to build world-class standards into your budgeting. Important elements of this programme include making your budgeting process more efficient & effective.

The important features of the Fundamentals of Finance, Accounting & Budgeting training course are:

• Understanding basics of Finance & Accounting
• Generally Accepted Accounting Principles (GAAP)
• Producing financial statements and analysis techniques
• Preparing efficient & effective budget
• Analyzing Financial indicators and using it in planning

• Explain basic accounting concepts, terminology, principles, processes and procedures that govern how the financial statements are prepared. and the relevance to a business department.
• Identify the basic principles used in safeguarding assets and insuring the accuracy of accounting records
• Understand the difference between accrual and cash basis accounting
• Know the importance of accounting in running businesses.
• Understand the accounting cycle.
• Explain the components of an annual report.
• Understand how financial information, primarily that provided by the financial statements, can be used to analyze business operations and make economic decisions
• Effectively prepare balance sheets and income statements.
• Analyze a set of financial statements to evaluate the business’ financial health.
• Differentiate the financing options available to a business and situations where each might be used.
• Explain how to prepare a budget and effectively manage the budgeting process
• How to implement advanced planning and control techniques into your budgeting process
• Know how to integrate the budgeting process with the development of the company’s long-term strategic vision
• Successfully build an integrated planning, budgeting and reporting process
• Know how to provide a decision support structure that provides timely and useful information to decision makers
• Apply management tools to the budgeting process that contribute to strategic goals
• Develop ways to increase profitability and performance through stream lined planning and reporting

Fundamentals of Finance, Accounting & Budgeting training is designed for wide range of professionals include:

• All professionals with financial responsibility
• Managers seeking to develop their understanding of the accounting methods
• All professionals with planning and budgeting responsibility
• Anyone with direct planning and budgeting responsibility
• Professionals responsible for management reporting
• Corporate governance directors and compliance officials
• Board level members who wish to develop their understanding of Budgeting &Planning
• Professionals who are working with financial organizations

This highly practical and results-oriented program is based on adult learning concept. This seminar will comprise a range of learning activities, including tutor presentations, with question and answer opportunities, demonstration and practice of analytical techniques, group exercises and discussions, using case studies and market information sources. Whilst the theoretical background to financial management will be explained and justified, the main emphasis will be on putting these into a real-world context by providing a practical ‘toolkit’ of financial techniques.

Pre & Post course assessments will be used to measure the effectiveness of this training and measure the skill and ability of participants.