21 - 25 Apr 2025
London (UK)
Hotel : Landmark Office Space - Oxford Street
Cost : 5250 € Euro
Over the years accounting has evolved and has sprouted into several branches that have become an indispensable part of any business because of its utility. How can a business keep track of financial transactions?
How can the profitability and financial position of a business be calculated? Accounting is the process of systematic recording of financial transactions, classifying them, and reporting them in the manner most useful to the users of financial information.
Some of the most used branches of accounting are financial accounting, cost accounting, and management accounting. With the passage of time and increasing popularity, the field of accounting now presents a plethora of job prospects for management graduates and professionals.
How can financial records be used to make financial projections? How can financial data be presented in a most useful manner? How can accounting be used as a tool in controlling function? All these questions are unriddled through accounting.
Investors and shareholders utilize accounting information to make crucial capital decisions, employees need accounting information to analyze if they are being paid fairly, and managers need accounting information to make decisions regarding costs, expenses, and future courses of action. Various stakeholders put accounting to use to fulfill their diverse information needs.
This Global Horizon training course aims to make its participants not just aware of the fundamentals of accounting but also coach them on how these fundamentals are applicable in their daily life. Any professional seeking to get well-versed in the basics of accounting may opt for this training course.
It provides an introductory window to types, processes, systems, frameworks, and techniques of accounting. It also acts as a refresher course for professionals who have been out of touch with accounting and want to once again get acquainted with the fundamentals of the subject. This course will prove to be the first step for anyone aiming to climb the tall staircase of financial prowess.
Upon successful completion of this course participants shall be able to achieve the following objectives:
Realize the need for accounting information in different aspects of the business.
Understand the multi-facets of accounting and their application in personal as well as professional life.
Be adept at reading and interpreting financial statements.
Be aware of various accounting concepts and conventions.
Understand what financial statements include and how they are prepared.
Understand what and how accounting information is used in various management functions of planning, organizing, directing, and controlling.
Understand how accounting skills help in tax planing.
Achieve coordination among various departments through the smooth flow of financial information.
Interactive lectures
Solving Practical problems
Case study
Presentations
Group discussions
Query-solving sessions
Use of the latest tools
Upon successful completion of this course participants will be able to benefit their organization in the following ways:
Present accounting information to the relevance of different departments
Helping in proper planning through the preparation of budgets, future projections, and forecasting revenues
Allow efficient inventory management through timely inventory valuation and quantifying stocks
Assess the financial health of the firm by analyzing financial profitability and position of the business
Meet cost objectives of cost-cutting and cost control
Help in regulatory and statutory compliances
Analyse business growth and understand where the business stands in comparison to its competitors
Efficient cash management and maintaining adequate liquidity
Allow coordination among various departments and business activities through a continuous flow of financial information regarding sales, demand, cost, and targets
Upon successful completion of this course participants will benefit at a personal level in the following ways:
Comprehend and review financial statements
Understand technical jargon and terminology used in accounting
Keep track of expenses and revenues
Analyse financial statements to make sound investment decisions
Analysing personal financial statements to make decisions regarding personal financial planning
Entrepreneurs/small business owners/start-up founders
HR, marketing, production, finance executives and managers
Accounting assistance
Retail investors
Financial analysts
Relationship managers
Financial advisers
Financial planners
Understanding Basics of Accounting
Introduction to Financial Accounting
Users of Financial Statement
Double Entry System
Generally accepted accounting principles
Some Accounting Terminology
Capturing Data for Financial Accounting
Accounting cycle
Chart of Accounts
The distinction between Capital Expenditure and Revenue Expenditure
Cash and accrual systems of accounting
Posting to General Ledgers
Journal Entries
Accounts Receivable / Accounts Payable Ledgers
Bank Reconciliation / Cash Reconciliation
Provisions
Depreciation
Inventory valuation
Case Study – 1
Examples of Double Entry Transactions
Journal Entries
General Ledger
Trial Balance
Components of Financial Accounts
Balance Sheet
Income & Expenditure Account
Cash Flow Statment
Statement of Changes in Equity
Notes to Financial Statements
International Accounting & Reporting Standards
International Accounting Standards (IAS)
International Financial Reporting Standards (IFRS)
Generally Accepted Accounting Principles (GAAP)
Analysing Financial Statement
Ratio Analysis
Vertical P&L and Balance Sheet
Horizontal P&L and Balance Sheet
Capital Expenditure
Capital Investment Appraisal
Return on Investment
Payback period
Net Present Value
Internal Rate of Return
Lease or Buy Decisions
Budget Process and Management
Preparation of Master Budget
Fixed v/s Flexible Budgets
Quarterly Reviews
Forward Planning
Budget/ Actual Comparison
Zero-Based Budgeting
Cost Accounting
Total Absorption Costing
Marginal Costing
Contribution Margin
Break-even Analysis
Sensitivity Analysis
Variance Analysis
Price Variance
Quantity Variance
Mix Variance
Management Accounting
Case Study – 2
Understanding the Financial Statements of a Listed Company