Finance and Accounting

Training Course: Fundamentals of Accounting


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FI234897

26 - 30 May 2025

London (UK)

Hotel : Landmark Office Space - Oxford Street

Cost : 5250 € Euro

Introduction

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.

Course Objectives

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.

Training Methodology

  • Interactive lectures

  • Solving Practical problems

  • Case study

  • Presentations

  • Group discussions

  • Query-solving sessions

  • Use of the latest tools

Organizational Benefits

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

Personal Benefits

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

Target Audience

  • 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

Course Outline

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

Finance and Accounting

Training Course: Fundamentals of Accounting


Register Now
Quick Inquiry
Discount Group Download Brochure (39)

FI234897

26 - 30 May 2025

London (UK) - Landmark Office Space - Oxford Street

Hotel : Landmark Office Space - Oxford Street

Cost: 5250 € Euro


  About London

The UK capital of London is a city that combines the old and the new. It is as equally famous for the latest fashion and innovation as it is for its impressive heritage. London's attractions range from the Royal Palace to the DIY atmosphere of its markets. It is also a picturesque city of parks and of course, the majestic Thames River. The city extends for miles beyond its ancient core and each neighborhood has its own charming atmosphere for visitors to explore. London also wears its status as a world city proudly and the influence of different cultures is plain to see in the food and fashion of the capital.


  Things to do and places to visit in London

With so many attractions in London, anyone can find something to delight them. Art lovers will enjoy the world-renowned museums and galleries, most of which are free. Sports fans are spoilt for choice by the city's array of football clubs. Theatre and music fans have a vast list of venues to visit, whilst shopaholics have Harrods, Oxford Street, Camden and much more to look forward to after arranging flights to London.

Some unmissable London attractions include:

  • Seeing priceless masterpieces in the Tate Britain or the National Gallery.
  • Watching the changing of the guard at Buckingham Palace.
  • Visiting Trafalgar Square's famous monument.
  • Marveling at the Crown Jewels in the Tower of London.
  • Getting a bird's eye view of the city from the London Eye.
  • Tasting one of Brick Lane's famous curries.
  • Browsing the exclusive shops of Knightsbridge.
  • Visiting a market – Spitalfields for antiques, Camden for clothes or Borough Market for street food.
  • Admiring design from around the world in the Victoria and Albert Museum.
  • Looking for clues at the home of fiction's most famous detective, Sherlock Holmes.
  • Strolling through one of the lovely parks, including Hyde Park, St James' Park or Kew Gardens.
  • Eating Britain's most famous dish, fish and chips.
  • Watching the street performers in Covent Garden.
  • Enjoying the views at a South Bank cafe.
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