Accounting And Finance For Non-Financial Professionals

The realities of business are such that a knowledge of business and accounting principles is essential if we are to discharge the responsibilities of our jobs effectively. 

While it is usually not necessary that we become familiar with all aspects of accounting and finance, we often need to know how accounting systems work, what the terms mean and why things are done the way they are.

With this knowledge, we are better equipped to make decisions, use and interpret financial information and handle the day to day financial responsibilities of our jobs.

Objective:

The objective of this two day workshop is to assist participants in developing their knowledge and understanding of business and accounting principles so that they may become more confident in interpreting and dealing with financial and accounting information, thus enabling them to meet the financial requirements of their jobs more effectively.

Content:

• What is accounting
• Nature, purpose and scope of accounting
• Terminology simplified
• The accounting cycle
• Principles of double entry
• The accounting process, accruals and balance day adjustments
• The Government appropriation process, baselines and budget update cycle (OBU and MARBU)
• Principal financial statements (Statement of Financial Performance, Statement of Financial Position and Cash Flow statements)
• Capital and operating expenditure
• Depreciation and taxation, including GST and FBT
• Historical and replacement cost concepts
• Accrual accounting
• Fixed and variable costs for decision making
• Budgeting, forecasting and management reports
• Control of variances
• Evaluation and use of financial information
• Useful ratios and evaluation techniques.

Resultant Benefits:

On completion of the workshop, participants will be able to demonstrate a clear understanding of accounting principles and terminology. They will understand the accounting cycle and why things are done as they are and will be better equipped to handle the financial responsibilities of their jobs.