Finance and Accounting Training for Office Administrators and Secretaries

Introduction:

In today's fast-paced business environment, office managers, secretaries, and other administrative professionals are increasingly integral not only for manual tasks but also for financial activities and the smooth operation of various processes.

For advanced learners seeking to enhance their knowledge and skills in financial accounting, reporting, and management, Finance and Accounting Training for Office Administrators and Secretaries course is invaluable. This course provides a robust foundation in financial accounting principles and touches on essential financial aspects, preparing professionals to collaborate effectively with finance teams.

Whether you are looking to advance your career with accounting and finance course, or seeking comprehensive office management training, this course is designed to equip you with practical skills and insights. It is particularly suited for accounting secretaries and professionals in supportive roles, offering practical tools to boost productivity and efficiency in the workplace.

Objectives:

At the end of this Finance and Accounting Training for Office Administrators and Secretaries course, participants will be able to:

• Recognize and appreciate the significance of accounting and finance functions and their connections with suppliers, customers, shareholders, lenders, and the public.
• Utilize basic financial and accounting terminology to contribute effectively in meetings and supportive roles.
• Understand the principles governing the recording of daily business transactions.
• Prepare fundamental financial reports, including income statements, balance sheets, and cash flow statements.
• Analyze company performance using basic financial ratios.
• Apply costing and budgeting techniques to improve efficiency and profitability.
• Develop skills and knowledge for personal and professional growth within the organization.
• Identify and address critical challenges affecting their business.
• Collaborate effectively with line managers and various departments.

Training Methodology:

• Classroom Activities
• Brainstorming
• Dramatic Play
• Investigative Methods
• Computer-based Learning

Course Outline:

Unit 1: General Overview of Finance and Accounting

• Definition and scope of accounting and finance
• Sources of long-term and short-term funds
• Introduction to financial and management accounting
• Principles of double-entry accounting
• Recording transactions and relevant documents
• Accounting for business income and depreciation methods

Unit 2: The Financial Statements

• Overview of primary financial statements: income statement, balance sheet, and cash flow statement
• Components and computation of profit
• Capital vs. revenue elements
• Arrangement of assets and liabilities
• Definition and valuation of working capital
• Analysis of published annual reports

Unit 3: Basic Evaluation of Financial Statements

• Importance of financial statement analysis
• Identifying stakeholder information needs
• Common-size financial statements
• Ratio analysis: profitability, liquidity, operating efficiency, gearing ratios
• Evaluating cash flow cycles and working capital management
• Company valuation based on book and market value

Unit 4: Introduction to Costing Systems

• Cost data gathering and analysis
• Types of cost analysis
• Cost of manufacture and inventory impact
• Costing methods: FIFO, LIFO, AVCO
• Marginal costing and break-even analysis
• Performing what-if analysis

Unit 5: Budgets

• Linking budgeting processes with corporate strategies
• Advantages and disadvantages of budgetary controls
• Key budget forecasting methods
• Allocating departmental budgets
• Variance analysis
• Budget impact on organizational motivation