ACCOUNTING, DECISION MAKING & FINANCIAL COMMUNICATION

By the end of this course, participants will be able to:
• Prepare income statement, balance sheet and cash flow statement
• Explain the difference between profit and cash flow
• Interpret cost behaviour and its impact on product costing
• Use accounting techniques to improve profitability and efficiency
• Construct functional and departmental budgets
The Course Content
Introduction to Accounting
• The importance of accounting information
• The role of the Finance Function
• The accounting equation and financial accounting systems
• Recording facts and applying judgement
• Preparing the Income Statement and Balance Sheet
• Accounting principles and accounting standards
Accounting Reports
• The format and contents of the Income Statement
• The format and contents of the Balance Sheet
• The effect of depreciation and impairment on profit
• Identifying and valuing inventory
• Preparing the Cash flow Statement
• The importance of cash flow in business
Management Accounting for Control and Decision-Making
• Collecting and analyzing costs
• The structure of direct and indirect costs
• Dealing with overheads – absorption costing or ABC?
• Cost-Volume-Profit and break even analysis
• Decision making – make or buy
• Decision making – the effect of limiting factors
Communicating the Plan through Budgeting
• Corporate planning and corporate objectives implemented through budgeting
• The budgeting process and timescale
• Sales budget forecasting techniques
• Cascading the budgets across the whole business
• Preparing functional budgets and the cash budget
• Budgeting principles, methodologies and applications
Measuring Performance to Inform Decision Making
• Monthly management reporting
• Setting and using standards
• Identifying and calculating variances
• Operating and planning variances – who is responsible?
• Measuring responsibility centre performance, ROI, RI, and EVA
• Non-financial performance – the Balanced Scorecard

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.
DATE:
1ST BATCH: 21st – 24th Jan 2025
2ND BATCH: 17th – 20th June, 2025