Finance and Account for Office Administrators & Secretaries

Finance and Account for Office Administrators & Secretaries

 OBJECTIVES

• Develop the skills and knowledge required in support of their personal development and roles within their organizations
• Appreciate the importance of the accounting and finance function with regard to its links with every part of the organization, and its suppliers, customers, shareholders, lenders, and society in general
• Develop a clear understanding of finance and accounting terminology thereby allowing them to make a valuable contribution to the workplace in meetings or in a supportive role
• Develop a clear understanding of accounting methods including:
  • bookkeeping
  • preparation of financial statements (Profit & Loss Account, Income Statement, Balance Sheet and Cash Flow Statements)
  • basic interpretation of financial statements
  • budgeting
  • costing

WHO SHOULD ATTEND?

The program is primarily aimed at secretaries, office administrators, personal assistants, executive assistants, administrative professionals, administration support staff, etc. to enable them to support in operational and financial processes.

However anyone wishing to increase or update their awareness and understanding of finance and accounting methods and terminology will benefit from the program.

COURSE  OUTLINE

DAY 1

Introduction to Finance and Accounting

• What is Finance and what are the major sources of Long-term and Short-term finance?
• What is Accounting and the differences between Financial Accounting and Management Accounting?
• Bookkeeping – Recording Financial Transactions
• Depreciation – the various methods and their impact on profit

DAY 2

The Financial Statements

• Preparing basic financial statements – the Profit & Loss Account (Income Statement); the Balance Sheet and the Cash Flow Statement
• Key elements – Defined and Explained
  • Profit
  • Revenue & Capital Expenditure
  • Assets – Fixed & Current
  • Liabilities – Current & Long-term
  • Working Capital
  • Net Worth
• Profit and Cash – what is the difference?
• Annual Reports & Accounts

DAY 3

Basic Evaluation of Financial Statements

• Basic Ratio Analysis in order to assess performance:
  • Profitability
  • Liquidity
  • Operating
  • Gearing
• The Cash Flow Cycle and Working Capital
• Valuing a company – Book Value versus Market Value

DAY 4

Costing & Budgeting

• What is the Cost of Production – Marginal and Total Costing explained
• FIFO; LIFO and AVCO Explained
• Marginal Costing and Break-Even Analysis
• What-if Analysis

DAY 5

Budgets

• The Benefits & Limitations of Budgets
• The Essential Features of Budgets
• Types of Budgets
• Basic forecasting techniques
• Preparing a departmental budget
• Comparing actual performance with the budget – Variance Analysis