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Beacon FinTrain

Provides an array of professional business and financial training services that stem from improving a corporate's treasury workflow —all the way to efficient, finance training programs.

Course 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.

Learning 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

Build a solid financial model

Course 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
  • Key Steps and Components of Monthly Closing
  • Importance of Accuracy and Timeliness
  • Reconciliation of Accounts and Financial Statements
  • Preparation of Trial Balances and Adjusting Entries
  • Handling Accruals and Deferrals
  • Identifying Errors and Discrepancies
  • Streamlining the Monthly Closing Process
  • Annual Adjustment Entry Procedures
  • Overview of Year-End Adjustments
  • Ensuring Compliance with Accounting Standards
  • Impact of Annual Adjustments on Financial Statements
  • Documentation and Review of Annual Entries

  • Understanding Financial Statement Consolidation
  • Consolidation Methods and Techniques
  • Importance of Reporting Accuracy and Transparency
  • Compliance with Regulatory Reporting Standards
  • Preparation of Consolidated Financial Statements
  • Disclosure Requirements for Consolidated Entities
  • Challenges and Pitfalls in Financial Statement Consolidation
  • Best Practices in Consolidated Reporting
  • Streamlining Consolidation Processes
  • Ensuring Timely and Accurate Reporting

  • Financial Statements
  • Key Components of Simplified Financial Statements
  • Identifying Stakeholders and Their Information Needs
  • Selection of Appropriate Accounting Methods and Principles
  • Streamlining Presentation Formats for Clarity and Accessibility
  • Utilizing Technology and Automation Tools for Efficiency
  • Case Study Analysis: Real-world Scenarios and Challenges
  • Strategies for Addressing Complexity and Ensuring Accuracy
  • Reviewing and Validating Prepared Financial Statements
  • Communication and Presentation of Findings
  • Lessons Learned and Best Practices in Simplified Financial Reporting

  • The Need for Ratio Analysis of External FS
  • Strengths and Weaknesses of Ratio Analysis
  • Major Ratios Commonly Used:
  • Liquidity Ratios
  • Profitability Ratios
  • Capital Structure Ratios
  • Efficiency Ratios.

  • Understanding the Accounting Process
  • Overview of Financial Accounting Principles
  • Recording Transactions and Generating Financial Statements
  • Accrual Basis vs. Cash Basis Accounting
  • Importance of Accurate Financial Reporting
  • Compliance with Accounting Standards and Regulations
  • Role of Accounting in Decision Making
  • Importance of Liquidity, Profitability VS. Liquidity
  • Defining Liquidity and Profitability
  • Assessing Liquidity Ratios and Metrics
  • Analyzing Profitability Ratios and Metrics
  • Importance of Liquidity in Financial Management
  • Balancing Profitability and Liquidity Objectives
  • Strategies for Enhancing Liquidity Position
  • Case Studies and Practical Applications
  • Impact of Liquidity on Business Operations and Long-Term Sustainability
  • Evaluating Liquidity and Profitability Trade-offs

  • Return on investment (ROI)
  • Residual Income. (RI)
  • Free cash flow (FCF) used by “venture capitalist “
  • EVA Economic Value Added.

  • Raising and Managing Long-Term Capital
  • Cost of Capital and Firm Value
  • Lease Financing and Management
  • Conflict KPIs between Finance and other functions (open Discussion).

  • Build a Budget and 5 years Business plan model
  • Build a solid financial model (Semi ready-made) to cover closing process and to understand accounting transition affection to financial decision maker
  • Solidify modeling and excel skills.

Who Should Attend

This course is designed for anyone who wants to review the fundamentals and building blocks of the accounting process.

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