Course Description
First, we will be looking at the mechanics of how accounting works and how accounting will help you plan and understand how your organization is performing. You will be introduced to the double entry principles, and how to record the transactions in the T accounts. We will go through the process of recording transactions, we also demonstrated the effect of transactions on the financial statements. These transactions are historical in nature and the decision to obtain is affected by the financial results. Also, the profit received at a given year could be or might not be achieved at the next year which depends on the surrounding factors that impact an enterprise. In this session, we introduce the concept of planning to achieve future dreams and formulation of budget for the Balance sheet, Income Statement, and Cash flow for companies to achieve attainable results. Finally, planning is a tool to transform dreams and goals into reality. The course will provide definition of Budget, types of Budgets, and the budgeting process. You will be exposed to the topic Cost Volume Profit Analysis. An introduction to the capital investment analysis will be provided. Usually, long-term investments requires large amount of money so it is important to analyse and choose suitable investment among alternatives that yield the highest return. Finally, an overview of the finance terminologies for building the 3 sets of financial statements: Balance Sheet, Income Statement, and Cash Flow Statement. It also includes Breakeven-Point for Multiple Products and investment tools to evaluate capital expenditures. Among these tools, Net Present Value, Internal Rate of Return, Payback period and others. Practical cases to enrich the learning are presented during the session, with Excel to formulate the equation and assist in making decision. The session continues with concept of financial analysis and its importance to evaluate the performance of an enterprise for two-year comparable period. Finally, demonstrate the financial model to use for building the financial section at the business plan.