Finance for Non-Finance Managers

Transcription

1 CONTENTS Timetable... 5 What yu shuld achieve... 7 Hw t use this learning guide... 8 Symbls fr learning... 9 Desired learning utcmes Sessin 1 Accunting principles Sessin utcmes Accunting Entity Cncept Funding a business The Dmain f accunting The accunting cnventins and dctrines Learner ntes Quick check Sessin 2 The purpse f bkkeeping Sessin utcmes Accunting Cncepts The purpse f bkkeeping Transactins Basic Accunting / Recrding Equatin Intrductin t Accunting Systems The Incme Statement (Prfit & Lss Accunt) The Balance Sheet Statement f Cash Flws The Duble entry system Debits and credits Gds and Services Tax (GST) Accunting Jurnals Surce Dcuments Accunting Jurnals Sales jurnal Purchases jurnal Cash receipts jurnal Cash payments jurnal Petty Cash jurnal Wages and salaries Writing up ledgers frm Accunting Jurnals Bank View versus Organisatinal View Bank recnciliatins Learner ntes Quick check Page 1

2 Sessin 3 Financial Reprts Sessin utcmes Preliminary trial balance The Incme Statement (prfit and lss statement) The Balance Sheet Statement f Cash Flws Learner ntes Quick check Sessin 4 Accrual accunting prcess and incme matching cnventins Sessin utcmes Cash v s Accrual accunting The matching principle Revenue recgnitin Expense recgnitin Cash Accunting versus Accrual Accunting Accruals Prepayments Other Special Transactins Prvisins Mnthly Reprting Timetable Learner ntes Quick check Sessin 5 Understanding and Interpreting Financial Reprts Sessin utcmes The 3 Key Histrical Financial Statements The Incme Statement (prfit and lss statement) The Balance Sheet Current v s nn current assets Asset carrying valuatins Intangible assets The Statement f Cash Flws Learner ntes Quick check Sessin 6 Calculatin and Interpretatin f financial ratis Sessin utcmes Prfitability ratis Liquidity ratis Efficiency ratis Financial ratis Sharehlder value Other nn financial ratis Learner ntes Quick check Page 2

3 Sessin 7 Budgeting and Frecasting Sessin utcmes Intrductin t Budgets & Frecasts Strategic Planning, Budgets and Financial Plans What is a budget Types f budgets Respnsibility centres Budgeting and perfrmance reprts Revenue budgets Expenditure budgets Budget & business plan timetable Budget methdlgies Budget versus Frecasts Rlling frecasts Learner ntes Quick check Case Study Bndy s Brewery Glssary Slutins t Activities Pwer pint slides Page 3

4 TABLE DAY 1 SESSION TOPIC EST. ACTUAL Intrductin 15 mins 9:00 9:15 SESSION 1 INTRODUCTION TO ACCOUNTING PRINCIPLES 30 mins 9:15 9:45 Accunting Cncepts Funding the business Management accunting v s Financial accunting The Dmain & Areas f accunting The accunting cnventins and dctrines SESSION 2 THE PURPOSE OF BOOKKEEPING/ACCOUNTING 120 mins 9:45 11:45 Accunting recrds and financial infrmatin Bkkeeping Types f transactins Accunting systems The general ledger Duble entry equatin Debits and credits (Uses and Surces) GST Surce dcuments Accunting Jurnals Bank recnciliatins The Incme Statement (Prfit & Lss) The Balance Sheet Statement f Cash Flws Activity (Case study 1) SESSION 3 PRELIMINARY FINANCIAL REPORTS 15 mins 11:45 12:00 Trial Balance Incme Statement and Balance Sheet SESSION 4 ACCRUAL ACCOUNTING AND INCOME MATCHING 30 mins 12:00 12:30 Cash v s Accrual accunting The matching principle Revenue & Expense recgnitin LUNCH 60 mins 12:30 13:30 Page 4

5 SESSION TOPIC EST. ACTUAL ACCRUAL ACCOUNTING AND INCOME MATCHING (Cntinued) 30 mins 13:30 14:00 Prepayments Prvisins Mnthly Reprting Timetable Activity (Case study 1) SESSION 5 INTERPRETING FINANCIAL REPORTS 30 mins 14:00 14:30 The 3 Key Histrical Financial Statements The Incme Statement (Prfit & Lss) The Balance Sheet Current v s nn current assets Asset carrying valuatins Intangible assets The Statement f Cash Flws SESSION 6 CALCULATION AND INTERPRETATION OF FINANCIAL RATIOS 60 mins 14:30 15:30 Prfitability ratis Liquidity ratis Efficiency ratis Financial ratis Sharehlder value Other nn-financial ratis SESSION 7 BUDGETING & FORECASTING 75 mins 15:30 16:45 Intrductin t Budgets & Frecasts Strategic Planning, Budgets and Financial Plans What is a budget Types f budgets Respnsibility centres Budgeting and perfrmance reprts Revenue budgets Expenditure budgets Budget & business plan timetable Budget methdlgies Budget versus Frecasts Rlling frecasts Clse 15 mins 16:45 17:00 Page 5

6 WHAT YOU SHOULD ACHIEVE Welcme t the curse. This learner guide will be yur reference tl fr the training day and fr the future. This curse will prvide yu with the knwledge and skills t achieve the fllwing: Unit Intrductin t accunting principles Bkkeeping Financial Reprts Accrual accunting Interpreting financial reprts Interpreting financial ratis Budgets & Frecasts Element Describe the accunting entity cncept Understand the funding f entities Describe the basic cncepts f accunting Areas f accunting Accunting cnventins and accunting dctrines Describe the purpse f bkkeeping List the different types f transactins Describe the different types f ledgers Explain and demnstrate duble entry bkkeeping List the key financial reprts Explain accrual accunting Demnstrate understanding f accruals and adjustments Detail what the financial reprts d and d nt tell yu Read and understand financial reprts List and describe the ratis in evaluating yur clients perfrmance Calculate an rganisatins perfrmance Describe the results f the calculated ratis List the varius types f budgets Understand the budgeting prcess Hw is a budget different t a frecast Explain why frecasts are cmpleted If yu find that yu need assistance r wuld like mre infrmatin abut any f the tpics, ask yur trainer, r phne Bentleys NSW Pty Ltd n (02) This curse will take apprximately 7 hurs ver 1 day. Page 6

7 ABOUT THE PRESENTER With nearly 20 years prfessinal experience in this sectr, Steven specialises in prviding accunting, taxatin and general business advice t private clients and small t medium sized businesses. Steven wrks with a brad spectrum f clients and individuals thrughut the entire business lifecycle f planning, structuring and grwth. He understands the needs f high net wrth individuals and business grups, and has prvided valuable advice t clients frm a brad range f industries, including agribusiness, share trading, child-care, prperty investment, retail and whlesale distributrs, manufacturing and services-based businesses. His clients include family run businesses, large privately-wned businesses, subsidiaries f multi-natinals and fast-grwth start-ups, whse management seek his advice n a range f services including internal reprting, financial analysis and day t day accunting and taxatin issues. Wrking alngside clients with different and cmplex business structures has given Steven a deep understanding f their needs at each stage f the business life-cycle. Steven als has expertise in delivering a range f accunting and financial management training curses t help clients enhance their knwledge f financial principals. Specialist Skills Accunting and advisry services Cashflw, budgeting and management accunting Business establishment Grup structuring Incme tax cmpliance Audit preparatin assistance Outsurced management and financial reprting Training and presentatins with Chartered Accuntants Australia and New Zealand (CAANZ) Qualificatins Chartered Accuntant Bachelr f Business, University f Technlgy Sydney Prfessinal Memberships Member f Chartered Accuntants Australia and New Zealand Industry Experience Agribusiness and rural Family business and SME Investment Manufacturing and retail Prperty and cnstructin Retail and whlesale distributin Service industries Page 7