Advanced Accounting and Finance

Strategic Financial Leadership: Advanced Accounting and Finance Programme

Welcome to the Advanced Accounting and Finance Programme at UKTDC, where we recognise the pivotal role that accounting and finance play in the effective management of organisations, whether profit-making or charitable. Without a profound understanding of the rules, strategies, and processes in accounting and finance, many organisations find themselves struggling and at risk of failure.

Our Advanced Accounting and Finance Programme serves as a dynamic platform, catering to candidates with varying levels of expertise in accounting. Tailored for both novices and seasoned professionals in the field, this programme offers a comprehensive exploration of advanced financial concepts. Participants, regardless of their prior knowledge, will gain invaluable insights into financial analysis and core accounting skills. As leaders in the global business arena, our participants emerge equipped with the expertise to navigate the intricacies of accounting and finance, contributing significantly to the success of their organisations.

Recognising the crucial role that governments play in economic stability, we extend a special invitation to governmental bodies to explore the benefits of this programme. By investing in the skills and knowledge fostered by our Advanced Accounting and Finance Programme, governments can strengthen their financial management capabilities, ensuring a robust foundation for sustained growth and prosperity. Join us at UKTDC and elevate your understanding of accounting and finance to new heights, positioning yourself and your organisation for success on the global stage.

Programme Contents

The Advanced Accounting and Finance Programme consists of the following 10 courses.

Course 1: Introduction to Accounting

The first course of this course introduces the concept of Accounting and Finance. Candidates are exposed to the various systems of recording, summarising, and analysing financial transactions. Discussions are made on the types of people who rely on financial information, which includes the company’s managers and employees, banks, investors, governmental agencies, financial analysts, and labour unions.

Course 2: The Roles of an Accountant

Course 2 explores the various roles of an accountant. With a sound understanding of the principles of accounting and finance, candidates learn the many duties of an accountant such as;

Data collection, entry and report generation.
Giving financial advice and interpretation
Compiling financial statements (such as the balance sheet, income statement, and statement of profit and loss).
Performing financial calculations.
Reporting on financial performance.
Analysis of financial data.
Preparation of budgets.
Ensuring acquiescence to appropriate financial laws and regulations.
Developing and implementing financial record keeping systems.

Course 3: Accounting Concepts and Standards

To intensify participants’ knowledge of the programme, course 3 introduces accounting standards, which are the Standards for Financial Report issued by relevant government bodies. These standards set the accounting model for financial accounting policies and practices such as insurance and risk management, debt collection, buying and purchasing etc. Candidates also become familiar with authorities such as the International Accounting Standard Board (IASB) and accounting standards like International Financial Reporting Standards (IFRS).

Participants are also familiar with accounting concepts, which refer to the variety of principles that form the basic outline for financial reporting. At the end of this unit, candidates are well acquainted with these standards and concepts.

Course 4: Journals and Subsidiary

The course progresses to expose candidates to subsidiary books and journals crucial to the world of accounting and finance. These books and journal help sort and keep track of transactions within any financial institutions. At the end of this unit, participants are well armed with details of subsidiary books such as; Sales Return Book, Purchases Book, Bills Receivable Book, Journals Sales Book and Bills Payable Book.

Course 5: Profit and Loss Account

One of the important rudiments of accounting and finance is the profit and loss account. These accounts help any financial institution keep track of how much money is lost and gained within a specific timeframe. Participants are taught the importance of profit and loss accounts and how to create one. The unit covers the components of a profit and loss account i.e. Sequence of Expenses, Office and Administration Expenses, Selling and Distribution Expenses, Financial and Other Expenses.

Course 6: Balance Sheet

A balance sheet accounts for a company’s assets, liabilities and shareholders’ equity at a specific point in time. It also creates a starting point for computing rates of return and assessing the debts and capital of a company. This unit adequately covers this area of the course, giving the participants an in-depth understanding of the course.

Course 7: Cash Flow Statements

This course introduces one of the three major financial statements that report the cash generated and spent during a specific period of time. This mediates between the income statement and balance sheet by showing the inflow and outflow of money. Participants will be walked through the concepts of Operating Activities, Investing Activities and Financing Activities, all of which make up the cash flow statements.

Course 8: Budgeting

Course 8 deals with budgeting. The concept is first introduced with its various definitions. It then proceeds to explain the types which include; master, operating, cash flow, financial and static budget. Candidates are also exposed to the processes involved in budgeting such as; obtaining revenue estimate, updating budget assumptions, creating budget packages, reviewing budgets and so on. This course teaches the importance of budgeting as a tool for financial management, as it helps set targets, curtail unnecessary expenditure, provide profit margins etc.

Course 9: Financial Management

Financial Management is the focus of course 9. This is a fundamental activity in any institute. It involves planning, organising, controlling and monitoring financial resources in order to achieve set out objectives. The unit further gives an in-depth explanation of the various financial activities of an organisation such as accounting, procurement of funds, funds usage, payments, and risk assessment.

Course 10: Investment Methods

The concluding unit focuses on an important yet interesting aspect of the course. Participants are introduced to the concept of investments. The syllabus then proceeds to critically examine the three main investment methods: Debt investments or loans, Equity investments also known as company ownership and Hybrid investments.