Management Account & Financial Account

Service 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 • Preparing Financial Statements: Income Statement, Balance Sheet, Cash Flow Statement. • Recording Transactions and Journal Entries. • Chart of Accounts and Ledger Management. • Practice: Creating Basic Financial Statements. Day 2: Management Accounting Techniques 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 Analyzing 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.