Advanced Financial AccountingLondon Business Training & Consulting
Upon completion of this course, you will be able to understand:
- The purpose of accounting.
- Why non-accountants need to understand accounting.
- The basic terminology of business transactions.
- How to prepare a cash budget.
- The gross profit margin of a product and business.
- The difference between cash and the profits of a business.
- That a set of financial statements can be prepared from data included a trial balance.
- The difference between revenue and capital expenditure and the significance of the distinction.
- How to prepare a simple statement of profit or loss.
- The purpose of a statement of financial position.
- The assets and liabilities in a business.
- What an accrual and a prepayment are and how to account for them.
- How to prepare a statement of financial position for a simple business.
- Why non-current assets need to be depreciated.
- How to use the straight-line and the reducing-balance methods of providing for depreciation.
- Why we need to provide for bad and doubtful debts.
- How to prepare a final adjusted statement of profit or loss and statement of financial position.
- Some of the limitations of a statement of financial position.
- The nature of a limited company.
- The main external sources of finance available to limited companies, and their characteristics.
- The role of a stock exchange.
- The reporting requirements placed upon the directors of a company.
- How to prepare a statement of profit or loss and a statement of comprehensive income for a limited company.
- How to prepare a statement of financial position for a limited company.
- The purpose of a statement of changes in equity.
- The importance of reliable corporate governance.
- The crucial importance of cash to a business.
- The difference between profit and cash.
- How to prepare a simple statement of cash flows.
- Who uses financial statements and what their needs are.
- How to calculate and interpret ratios that enable you to comment on a business’s profitability, liquidity, and efficiency.
- How to calculate and interpret ratios that enable you to comment on a business’s capital structure, investment returns, and performance.
- The limitations of ratio analysis.
Suitability - Who should attend?
- Those who wish to understand the implications of decisions made across a range of financial accounting issues.
- Those who wish to develop the ability to analyse, interpret, and question the accounting information they may encounter in a business context.
- Those who wish to acquire a sound appreciation of accounting and finance in order to communicate and succeed in the business world.
- Non-accounting staff who desire a practical introduction to the fundamentals of financial accounting.
Outcome / Qualification etc.
A Certificate of Attendance from London Business Training & Consulting is issued on course completion.
Training Course Content
The Cash Budget
- Why should managers understand accounting?
- Accounting concepts
- Timings of receipts and payments
- Calculation of the gross profit and gross profit margin
Introduction to the Statement of Profit and Loss
- Measuring profit
- Double-entry bookkeeping
- Types of account
- Trial balance
- Capital versus revenue expenditure/income
- Calculating the cost of sales
Balancing the Basics
- Assets and liabilities
- The statement of financial position
- Accruals and prepayments
Accounting for Depreciation and Bad Debts
- The straight-line method
- The reducing-balance method
- Disposals of non-current assets
- Bad and doubtful debts
- Uses and limitations of the statement of financial position
- The nature of limited companies
- Share capital
- The stock exchange
- Venture capital
- Loan capital and debentures
- Retained profits
- Reporting requirements
- The statement of profit or loss
- The statement of changes in equity
- The statement of financial position
- Intangible assets
- Revaluing assets
- The statement of comprehensive income
- Corporate governance
The Statement of Cash Flows
- Sources of cash flow
- Non-current assets and the statement of cash flows
- Movements in working capital
- Tax, interest, and dividends
- What to look for in a statement of cash flows
- Managing cash
Interpreting Financial Statements
- Ratio analysis
- The pyramid of ratios
- Probability ratios
- Liquidity ratios
- Control of working capital
- The working capital cycle
Capital Structure and Investment Ratios
- Capital structure
- Investment ratios
- Limitations of ratio analysis
London Business Training & Consulting
London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all over the world. Our vision is to meet the business and management...
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