Fundamentals of Finance and Accounting for Administrative Professionals

ICTD International Centre for Training and Development

What are the topics?

ICTD International Centre for Training and Development

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Who should attend

Administrative and executive assistants, secretaries and other administrative professionals with little or no training in finance, seeking to enhance their financial savy

About the course

Finance and Accounting are the two most important functions for business organizations and for any other form of organizational entities. Though finance and accounting are specialist functions, Administrative and professionals in other management areas should have minimum fundamental knowledge on these areas for success in career and for better functioning of the organization.

This course will help you develop your understanding of the complexities of finance and accounting, which can be translated into practical skills for professional recognition and advancement. The course will also provide excellent review for the finance and accounting professional.

## Course Objectives

At the end of the course you will be able to:

  • Explain the accounting process: transaction analysis through statement preparation

  • Gain expertise on methods to interpret financial statements and annual reports

  • Identify and evaluate a business' liquidity, leverage and profitability

  • Gain expertise on methods and practices for financing a business

  • Prepare Budgets for common expense categories, analyzing budget variances, and understanding how to work with different budgeting systems

  • Evaluate the financial health of your business in the areas of liquidity, leverage, and profitability

  • Develop The skills to budget for special events and projects

## Course Outline

Understanding Basic Accounting Concepts and Principles

  • Recognize the differences in financial, tax, and management accounting, and the role of each system in a business

  • Describe the importance of Accounting principles and the impact of the key accounting assumptions

  • Differentiate between cash and accrual accounting

Understanding the Accounting Process

  • Define the five types of accounts: Asset, Liability, Equity, Revenue, Expense

  • Explain the accounting process from transaction entry to closing the books

  • State the significance of double-entry accounting

  • Determine the impact of different types of transactions on the accounting system

Understanding and Evaluating the Key Financial Statements

  • State the purpose of and the interrelationship among the following financial statements: Income Statement, Balance Sheet, Retained Earnings Statement, Cash Flow Statement

  • Define the key components of each statement

  • Prepare a set of simple financial statements from a set of account balances

  • Discuss the varying reasons for statement analysis and their impact on the process

  • Calculate commonly used financial ratios

  • Evaluate the financial health of a business in the areas of liquidity, leverage, and profitability

Understanding the Components of an Annual Report and the Auditor’s Role

  • Describe the differences in financial reporting for public, private, not-for-profit, and government organizations

  • Differentiate among the different types of audits

  • State the role of the external auditor in the financial reporting process

  • Evaluate the different sections in an annual report and discuss the significance of each

Financing the Business

  • Discuss the role of leveraging in improving return to the shareholders

  • Discuss the role of short-term financing in meeting an organization’s financial needs

  • Differentiate between the various long-term financing alternatives and understand their impact on the business

  • Identify appropriate financing alternatives for different types of business needs

Introduction to Budgeting

  • Explain the purpose of a budgeting system and provide an overview of the entire process

  • Differentiate among commonly used budgeting systems

  • Budget for common expense categories

  • Analyze budget variances as to their significance and cause

  • Budget for special events and projects

Videos and materials

Fundamentals of Finance and Accounting for Administrative Professionals at ICTD International Centre for Training and Development

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.