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 Finance and Accounting for Office Administrators and Secretaries K171 QR Code
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Finance and Accounting for Office Administrators and Secretaries

Overview:

Introduction:

This training program is designed to provide essential knowledge and skills to equip participants with a solid understanding of financial principles and practices relevant to office administration roles. By mastering these competencies, participanrts can contribute to the financial health of their organizations and enhance their effectiveness in administrative roles.

Program Objectives:

At the end of this program, participants will be able to:

  • Appreciate the significance of accounting and finance in organizational contexts and their interconnections with stakeholders.

  • Explore key finance and accounting terminologies to enhance workplace contributions.

  • Prepare and analyze fundamental financial statements including the Income Statement, Balance Sheet, and Cash Flow Statement.

  • Apply costing and budgeting techniques to improve organizational efficiency and profitability.

  • Effectively liaise with various organizational departments to address financial and administrative challenges.

Targeted Audience:

  • Secretaries.

  • Office Administrators.

  • Personal Assistants and Executive Assistants.

  • Administrative Professionals and Support Staff.

  • Production and Marketing Professionals.

Program Outlines:

Unit 1:

Introduction to Finance and Accounting:

  • Overview of accounting and finance functions.

  • Sources of long-term and short-term finance.

  • Differences between Financial and Management Accounting.

  • Basics of double-entry bookkeeping.

  • Recording business transactions including purchases, sales, payments, and receipts.

Unit 2:

The Financial Statements:

  • Preparing basic financial statements: Income Statement and Balance Sheet.

  • Key elements of financial statements explained.

  • Differentiating revenue and capital expenditure.

  • Understanding working capital, net worth, and profit versus cash.

  • How to review published annual reports for stakeholder insights.

Unit 3:

Basic Evaluation of Financial Statements:

  • Importance of financial statement evaluation.

  • Identifying stakeholder information needs.

  • Common-sizing financial statements for comparisons.

  • Calculating and interpreting accounting ratios.

  • Using ratio analysis to assess organizational performance.

Unit 4:

Introduction to Costing Systems:

  • Understanding cost analysis: types, locations, behaviors, and purposes.

  • Analyzing overheads and their impact on costing.

  • Inventory valuation methods: FIFO, LIFO, and AVCO.

  • Measuring break-even points and margins of safety.

  • Performing "What-if" analyses for decision-making.

Unit 5:

Budgets:

  • The importance of budgeting in linking corporate strategy and operations.

  • Benefits and limitations of budgets.

  • Key features of effective budgets.

  • Basic budget forecasting techniques.

  • Comparing actual performance with the budget through variance analysis.

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