Program overview
Business decisions are not made in a vacuum – decision-makers have some objectives in mind. The decisions are made mostly based on data provided by different organization departments. All the decisions made in the organization directly or indirectly influence the financial position of the company.
Therefore, one can understand the importance of accounting and finance in the organization. And this is the reason, the finance department plays one of the most critical roles in almost every firm.
This diploma is designed to provide basic knowledge and develop skills for working managers with little background in accounting, finance, and IFRS. The program will ensure that at the end of the course, the participants have a good understanding of IFRS and its applicability in the organization.
OBJECTIVES
- Understand the importance of accounting and finance in organizations
- Provide basic knowledge and develop practical skills to the working managers who have no or little background in accounting, finance, and IFRS.
- Apply the skills learned in their organizations
PROGRAM CONTENTS
- Understanding Business Model: The Five Elements of Accounting
- Understanding the Financial Statements: The Statement of Financial Position and P&L Account
- Measuring Business Income and Completing the Accounting Cycle at Year End.
- Accounting for Merchandising Activities
- Financial Assets
- Inventories and the Cost of Goods Sold
- Measuring Cash Flows and Statements of Cash Flow
- Costs: Concepts, Uses, and Classifications: The Cost Accounting System: Design and Operation
- By-product and Joint Product Costing
- Factory Overhead: Planned, Applied, and Actual with Variance Analysis
- Budgeting: Profits, Sales, Costs, and Expenses; Human Behavior, Flexible Budget
- Break-even and Cost-Volume-Profit Analysis
- Analysis and Interpretations of Financial Statements
- Capital Budgeting: Average Rate of Return, Pay Back Period, NPV, Internal Rate of Return
- Cost of Capital, Risk, and Return, Weighted Average Cost of Capital
- Introduction of International Financial Reporting Standards (IFRS)
- Presentation of Financial Statements as per IFRS
- Inventories: IAS -2: Adjustment of Net Realizable Value; Disclosures as per IAS-2
- Statement of Cash Flows: IAS -7: Presentation and Disclosures
- Events after Reporting Date: IAS -10: Provision, Contingent Liabilities & Assets – IAS 37
- Borrowing Cost: IAS-32
- Impairments of Assets [Tangible & Intangible]: IAS-36
- Revenue from Contracts with Customers: IFRS – 15
- Investment Property: IAS – 40
METHODOLOGY
ectures, group discussions, exercises, assignments, case studies, and exams.
PARTICIPANT PROFILE
This program is designed for Executives responsible for making policy decisions at senior and middle management level. It is open to all who find it essential to have a better understanding of Financial and Accounting tools.
PROGRAM DURATION/DAYS
The program is of three-month duration. Classes will be on Tuesday & Thursday (06:00pm to 09:00 pm)
LEARNING INVESTMENT
The fee for the entire program is Rs. 51,000/- (SST will be applicable on all training programs held in Sindh).
For details and registration please contact
Diploma Office, Management House, Shahrah Iran, Clifton, Karachi
Voice Dir: (+9221) 99251 669 EPABX: (+9221) 9925 1711-14 Fax: (+9221) 9925 1715-16
Cell: 03432499855, 03337326730, 03122464635, 03333028660, E-mail: diplomakhi@pim.com.pk