Finance and Accounting for Office Administrators & Secretaries
This programme provides an introduction to finance and accounting and it assumes no prior knowledge of finance or accounting.
The programme is designed to train the participants to support in operational and financial processes.
Those attending will leave with a clear understanding of essential finance and accounting terminology and methods through practical examples which will reinforce the principles and techniques outlined.
The overall aim of the programme is for those attending to leave with a clear understanding of all the essential finance and accounting terminology and methods to enable them to perform more effectively and efficiently within the workplace.
By the end of this programme you will be able to:
- Develop the skills and knowledge required in support of their personal development and roles within their organisations
- Appreciate the importance of the accounting and finance function with regard to its links with every part of the organisation, 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
The programme 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 programme.
The organisation will gain from staff, which as a result of participation will:
- Contribute more effectively
- Assist managers more effectively and efficiently
- Appreciate the importance of finance within the organisation
- Be motivated to add value to their role for the good of the organisation
You will develop a clear understanding of the essentials of finance and accounting, which will enable you to:
- Improve your role in the workplace
- Increase your awareness of the major issues facing your business
- Enable you to further your professional skills.
- Enable you to liaise effectively with line managers and other departments
- Improve your status in the organisation as those around you realise and appreciate your knowledge and understanding
The programme will focus on the following areas through the clear outline of terminology and procedures and the use of basic case studies:
- bookkeeping
- preparation of financial statements [Profit & Loss Account (Income Statement); Balance Sheet and Cash Flow Statements]
- basic interpretation of financial statements
- budgeting and
- costing
This programme is highly interactive: from the very first session of the first day, you will be involved in case exercises and problem solving. You will be encouraged to make the link between the training room and your office and organisation. Overall, the programme will expose you to a range of learning methodologies that include
- Mini lectures that introduce the main concepts
- Case exercises to test understanding
- Case histories to develop understanding and application
- Class discussions during which you will be given the opportunity to share your opinions and experiences with your fellow delegates
In addition to what might be called traditional materials, you will also be provided with a variety of real life materials and experiences: the training materials contain information drawn from a wide variety of sources from around the world.
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
Oxford Management Centre
John
Eccles House
Robert Robinson Ave
Oxford Science Park
Oxford
OX4 4GP
United Kingdom
Tel: +44 1865 338088
Fax: +44 1865 338100
email info@oxford-management.com
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