Essential Accounting & Bookkeeping Knowledge for Clerical Staff: Contents

Course Contents

1. Accounting - The Language of Business

• 3 Essential Elements of Business - Money, Product & Customer
• Interaction of the 3 Elements of Business
• Sales without Collection is Suicide

2. Accounting Principles and Concepts

• Definitions & Terminology
• Accrual Vs Cash Accounting
• Inventory Valuation – impact on Financial Results

3. Accounting & the Management Process

• Book Keeping, Reporting, Analysis, Planning
• Accounting - A Tool for Effective Management
• Understand your Accountant and obtain the right help from him

4. Bookkeeping & Reporting

• Debit, Credit, Double Entry and the Books of Accounts
• Profit & Loss Account, Balance Sheet and Cash Flow Statement
• Accrual Accounting - Profit & Loss Account is not Cash

5. Analysis of Financial Reports

• Profit, Growth and Cash
• Efficiency, Liquidity and Profitability Ratios
• Buying a Company

6. Financial Planning

• Past Data, Future Trends & Targets
• Budget Specifications
H
• ow to prepare a budget

7. Costing

• Cost must be small, Income must be BIG
• Cost behaviour patterns
• Full Cost Accounting

8. Management Accounting

• Cost-Volume Relationships
• Contribution Margin, Cost-benefit Analysis
• Costing & Pricing

9. Capital Budgeting

• Capital Vs Operation Expenses
• Capital Expenditure - impact on P & L, Balance Sheet & Cashflow
• The Capital Budgeting Process

10. Capital Investment Decisions

• Capital Expenditure - Investment to earn future income
• Assets must feed the Business not the Ego
• Payback method, discounted cash flow, net present value

How You Will Benefit

• know the Most Essential Elements of Business and how to act to maximise your profit and your financial position.
• understand the jargons in accounting.
• know the basic principles of accounting.
• be able to communicate effectively with your accountants and bank managers to get the right help from them.
• be able to use Financial Reports to evaluate your business to determine whether you are efficient, profitable and able to pay your debts.
• be able to take hunches out of your decision making to improve your performance.
• be able to plan for the future, create realistic budgets and back good ideas with good financial plans.
• have clear distinction between costing and pricing
• understand the relationship of cost, price, volume and profit.
• understand the nature and behaviour of costs.
• know how cost are allocated
• be able to make sound Capital Investment Decisions.