Management Account & Financial Account

Training Description

An outline for a comprehensive 5-day training program that covers management accounting, financial accounting, business tax, and compliance:

Day 1: Financial Accounting Fundamentals Introduction to Financial Accounting

·         Understanding the Role of Financial Accounting.

·         Key Accounting Principles (GAAP/IFRS).

·         Legal and Regulatory Framework in Financial Reporting.

·         The Importance of Accurate Financial Records. Financial Statements

·         Recording Transactions and Journal Entries.

·         Chart of Accounts and Ledger Management.

·         Practice: Creating Basic Financial Statements.

·         Preparing Financial Statements: Income Statement, Balance Sheet, Cash Flow Statement.

Day 2: Management Accounting Techniques and Management Accounting Basics

·         Role and Scope of Management Accounting.

·         Cost Classification and Cost Behaviour.

·         Cost-Volume-Profit (CVP) Analysis.

·         Break-Even Analysis and Contribution Margin. Budgeting and Forecasting

·         Budgeting Process and Types of Budgets.

·         Creating Operating and Capital Budgets.

·         Variance Analysis and Performance Evaluation.

·         Practice: Building Budgets and Analysing Variances.

Day 3: Business Taxation Business Tax Overview

·         Types of Business Taxes (Income Tax, Corporation Tax, VAT, etc.).

·         Taxation Laws and Regulations.

·         Tax Deductions, Credits, and Allowances.

·         Tax Planning and Compliance. Tax Compliance and Reporting

·         Tax Return Filing and Deadlines.

·         HMRC Requirements and Documentation.

·         Taxation for Sole Traders, Partnerships, and Companies.

·         Practical Tax Compliance Exercises.

Day 4: Business Compliance and Regulations Regulatory Framework

·         Business Compliance and Legal Obligations.

·         Corporate Governance and Ethical Considerations.

·         Health and Safety Regulations.

·         Data Protection (GDPR) and Cybersecurity.

·         Risk Management and Compliance

·         Risk Assessment and Mitigation Strategies.

·         Compliance Audits and Internal Controls.

·         Case Studies on Regulatory Compliance.

·         Group Discussions on Compliance Challenges.

Day 5: Financial Analysis and Reporting Financial Analysis Techniques

·         Ratio Analysis and Interpretation.

·         Analysing Profitability, Liquidity, and Solvency.

·         Using Financial Metrics for Decision-Making.

•        Dashboards and Reporting Tools. Financial Reporting and Communication

•        Effective Financial Reporting Practices.

•        Presenting Financial Information to Stakeholders.

•        Case Studies on Financial Analysis and Reporting.

•        Final Assessment and Certification.