Finance & Accounting Fundamentals

Overview

All Companies should ensure that the principles and practices used in modern accounting are implemented to make sure that proper financial controls are maintained
This course will guide you through the accounting process, so by the end of this course, you’ll be able to read the three most common financial statements: the income statement, balance sheet, and statement of cash flows. Then you can apply these skills to a real-world business setting.
You will also analyze accounting concepts applied within different business scenarios, analyze financial statements and other related business practices to improve organizational effectiveness.

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Outcome

Differentiate Between Finance and Accounting

Identify Different accounting terminologies

Explain the format of the income statement and balance sheet

Define various financial statement terms

Prepare a simple income statement and balance sheet

Details

Developed by: Beacon FinTrain
Standard Total Hours: 18 Hrs
Language: English - Bilingual "English & Arabic"
Modalities: 
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Outline

  • Difference Between Finance and Accounting
  • Basic Accounting Concepts
  • Accounting Equation
  • Purpose of Financial Statements

  • The Balance Sheet
  • Income Statement
  • Cash-Flow Statements
  • Statement of Owner Equity
  • Preparing Simple Financial Statements

  • Understanding the Monthly Closing Process
  • Overview of the monthly accounting cycle
  • Importance of monthly closing for financial reporting
  • Timeline and key activities involved in the monthly closing process

  • Explanation of consolidation in accounting
  • Importance of consolidating financial statements for group reporting
  • Types of entities subject to consolidation (e.g., parent companies, subsidiaries, affiliates)
  • Consolidation Methods

  • Preparing Simplified Financial Statements

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Who Should Attend

  • Professionals seeking to refresh their accounting knowledge
  • Small business owners managing their own finances
  • Individuals interested in understanding basic accounting principles
  • Anyone considering a career in finance or business

Why Beacon

Quality

Beacon FinTrain prioritizes excellence in every service, ensuring top-notch, reliable, and consistent outcomes that meet and exceed client expectations.

Specialization

We focus on finance, offering expert knowledge and bespoke solutions that cater to the unique needs of finance professionals in the Middle East and Africa.

Punctuality

Time is money. We respect deadlines, delivering precise and timely results to help our clients stay ahead in the fast-paced financial world.

Guidance

Beacon FinTrain is a guiding light in finance, providing insightful advice and support to navigate the complexities of financial markets and regulations.

Integrity

We uphold the highest ethical standards, fostering trust and transparency in all our dealings to build lasting relationships with clients.

Flexibility

Adapting to the dynamic finance sector, we offer versatile services and solutions that align with the evolving needs of our clients.