• Who uses financial information and why?
• The flow of information in a company.
• Recognising different kinds of information and what it is derived from.
• Fundamental accounting terminology explained.
• Reporting formats.
• Cash versus profit.
• The flow of money in and out of a company.
• How this is managed and controlled.
• Customers & Suppliers: The collection and payment processes.
• Where finance comes from.
• Basic cash flow statements.
• Establishing the value of a companies’ inventory.
• Different techniques of valuation.
• How fixed assets are recorded.
• Asset lives and depreciation.
• The physical verification of assets.
• Comprehending the composition of the Profit and Loss Account.
• Computing profitability ratios.
• The Balance Sheet explained.
• Utilising financial ratios.
• Interpreting results and making comparisons between companies.
• How we classify costs and set standards.
• Different costing methods used in business.
• Basic forecasting techniques.
• Preparing a departmental budget.
• Comparing actual performance with the budget.