INTORDUCTION

The work place is increasingly being managed by managers and other personnel who do not have an Accounting background but have to handle financial issues and often have to make business decisions. This course is presented in a way to assist these managers to better understand how business functions from a purely financial perspective. The course focuses on how to maximize profitability by being able to identify weaknesses in the organization.

PROGRAMME DESCRIPTION

An introductory course for managers and personnel who do not have an accounting background but their job descriptions and functions require some understanding of Accounting. The course is also useful to managers in all Departments/Divisions in an organization because the optimal use of all resources is the key to maximizing profitability. This course will be beneficial to HR managers to assist them in identifying key personnel in respect to career pathing; succession planning etc. the course is customized to assist non-financial personnel to gain a basic understanding of accounting so that they have a better insight of their jobs responsibilities and perform at a higher level.

PROGRAMME OUTLINE

This 2 day programme will cover the following areas:

DAY 1: Accounting concepts and terminology, Business principles, Accounting principles and the application of these principles. Recording of accounting information in respective journals, ledger accounts etc.

DAY 2: Analysis and interpretation of accounts and financial statements- An introduction to Working Capital Management. The Cash Budget; the budget process; budget committees; different types of budgets.

WHO SHOULD ATTEND

Trainee Managers, Non-managers ear-market for managerial positions, Team members of Budget Committees, Head of Business Units (Profit Centers), Middle-managers and HR Managers.

KEY FOCUS AREAS

The primary function of accounting is to record the business transactions of an enterprise in an orderly manner and in accordance to the principles of accounting. In addition the role of accounting is to provide useful information to owners, shareholders, managers, financiers and other stakeholders (e.g. the government) for decision-making and other purposes (like payment of taxes and dividends). For financial managers, in addition to the above, accounting provides the basis for decision-making specifically for the optimal use of the enterprise’s cash and other resources in order to maximize its profits and sustain growth. 

Accounting Concepts and Terminology
In order to record a transaction in accordance to the principles of accounting one needs to familiarize one’s self with the relevant accounting terminology and concepts. In accounting the following terms are commonly used and they form the foundation of accounting practice 

Business Principles
The business principle is essentially to use all the resources of the enterprise optimally in order to maximize profits and sustain growth. 

Accounting Principles
Recording a transaction according to accounting principles.
 
Inventory Systems

Analysis and interpretation of financial statements
The purpose of financial analysis is to make a comparison of the entity’s performance over a period of time and to provide relevant information for decision making in respect to the future. The analysis is a means of evaluating an entity’s performance with the objective of remedying or eliminating weaknesses and focusing on improvement and growth.