Financial Accounting and Taxation

Schedules
5 Found
Date Duration Venue Fees
11-15 Dec 2023 5 Days Dubai - UAE US$3,450 Register
08-12 Jul 2024 5 Days Dubai - UAE US$4,450 Register
09-13 Sep 2024 5 Days Dubai - UAE US$4,450 Register
09-13 Dec 2024 5 Days Dubai - UAE US$4,450 Register

Course Overview

Financial accounting is the process of recording all transactions of resulting from business operations for a specific period of time. These transactions are then summarised for preparation of financial reports of the company including Income Statement, Balance Sheet and Fund Flow Statement. Financial reports, or annual reports, are prepared to show the profitability and net worth of the company. These reports are required not only by the company itself but are also required by prospective investors, bankers, suppliers, and the public at large. Financial reports provide insight of the financial health of the company.

Business owners, directors and the top management must have the ability to go behind the figures reports so as to understand the current financial health and plan for the future. This includes Capital Investments Appraisal, understanding various components of Working Capital and advantages of having an efficient Enterprise Resource Planning system. Besides, with the introduction of code of corporate governance all over the world, directors and CEOs can no longer plead ignorance about financial results of the company.

Course Objectives

This course will enable the directors, both executive and non-executive, CEOs and other senior executives of the organisation to understand the financial statements and make intelligent decisions about the business to increase shareholders’ equity.

After the training course, you will learn to:

  • Appreciate the importance of financial accounting and budgeting
  • Obtain an overview of the financial statements to evaluate the company’s performance and conduct meaningful comparisons with competition
  • Understand the different components of working capital and reduce operating cycle for improved liquidity
  • Analyse financial results to maintain a healthy profitability and solvency position
  • Understand various types of taxes and the accounting treatment of the same

Target Audience

This course is suitable to a wide range of working professionals but will greatly benefit:

  • Chairmen and members of the board of directors
  • C-suite executives including CEOs, CFOs and COOs
  • Independent directors
  • External and internal auditors
  • Senior executives and members of management committees
  • Professionals associated with finance function
  • Shareholders and business owners eager to learn the fundamentals of financial planning

Training Methodology

The course is customized to suit the requirements and professional background of the participants. The programme is conducted by highly experienced trainer with the help of power point slides, and video presentations. Some practical exercises are also included for better understanding of the subject. The course will be highly interactive sharing experiences and the trainees are encouraged to participate in practical exercises and group discussions.

Course Outline

Day One

Module 1: Financial Accounting

  • General Accounting Concepts
  • A Bit About Double Entry System
  • Basic Accounting Terms
  • Cost Concept
  • Revenue Recognition
Day Two

Module 2: Financial Reporting

  • International Accounting Standards (IAS)
  • International Financial Reporting Accounting Standards (IFRS)
  • Accounting Policies
  • Components of Financial Statements

Module 3 : Financial Analysis

  • Ratio Analysis
  • Liquidity v/s Solvency
  • Importance of Liquidity Ratios
  • Liquidity Ratios
  • Solvency Ratios
  • Working Capital Ratios
  • Calculation of Operating Cycle
  • Operating Leverage
  • DuPont Analysis
  • Investment / Market Analysis
  • Horizontal Analysis
  • Vertical Analysis
Day Three

Module 4 : Taxation

  • Income v/s Taxable Income
  • Income Tax
  • Corporate Tax
  • Value Added Tax
  • Customs & Excise Duty
  • Deferred Tax

Module 5: Working Capital Control

  • What is Working Capital? Best Business Practice in Accounts PayableCash
  • Working Capital Management
  • Inventory Control
  • Inventory Valuation
  • Receivable Control
  • Best Business Practice in Inventory Management
  • Receivable Control
  • Best Practices in Accounts Receivable System
  • Payable Control
  • Cash Management
  • Cash Flow Forecast
  • Importance of Cash Flow Forecast
  • Best Practice in Cash Management
Day Four

Module 6: Capital Expenditure

  • What is Capital Expenditure?
  • Evaluation of Capital Expenditure
  • Payback
  • Return on Capital
  • Net present Value
  • Internal Rate of Return
  • Lease or Buy Decision

Module 7: Enterprise Resource Planning

  • Planning
  • Production
  • Sales
  • Procurement
  • Inventory
  • General Ledger
Day Five

Module 8 : Budget Process and Management

  • Why budget is important?
  • Benefits of a Business Budget
  • Budgeting v/s Forecasting
  • A Typical Business Planning Cycle
  • What to include in an Annual Plan
  • Risk of not Budgeting
  • Tips of Creating a Budget
  • Master Budget
  • Fixed v/s Flexible Budget
  • Zero-Base Budget

Certificates

Upon successful completion of this training course, Newage Certificate will be awarded to the delegates.

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