Postgraduate Cert in Financial Accounting and Management Accounting

Programme Number 061 - Financial Accounting and Management Accounting Programme, Leading to Postgraduate Certificate in Financial Accounting and Management Accounting to a Postgraduate Diploma, with a 180 additional Credit-Hours.

   The course cost does not include living accommodation. However, delegates are treated with the following:

 Free Continuous snacks throughout the Event Days;  

 Free Hot Lunch on Event Days;                           

 Free City Tour;             

 Free Stationery;                               

 Free On-site Internet Access;

HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

Certificate of Attendance and Participation – if unsuccessful on resit.

 HRODC Postgraduate Training Institute’s Complimentary Products include:

HRODC Postgraduate Training Institute’s Leather Conference Folder;

HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

HRODC Postgraduate Training Institute’s Key Ring/ Chain;

HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) Bag – Black or Brown;

HRODC Postgraduate Training Institute’s 8GB USB Flash Memory Drive, with Course/ Programme Material;

HRODC Postgraduate Training Institute’s Metal Pen;

HRODC Postgraduate Training Institute’s Polo Shirt.

Location:  Central London and International Locations

Daily Schedule: 9:30 to 4:30 pm.

For Whom This Course is Designed

This Course is Designed For:

Managers with direct financial responsibilities;

Executives who need to evaluate plans for approval and variance reports for corrective action;

Managers who need to improve their skills in constructing and controlling their budget;

Supervisors from every discipline and department who have to manage departments and plan, cost, and budget during their business careers;

Cost and management accountant;

Financial planners and cost analysts;

Senior managers who supervise people with financial responsibilities;

Financial and budget controllers who are moving to wider responsibilities;

Managers who need to know more about business planning, budgeting, costing terms and techniques;

Managers who have to plan, cost and budget new business ventures;

Managers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business lives;

First appointment managers on fast-track development programmes;

Managers who require a refresher programme on the topic or who would benefit from having an opportunity to consider new ideas and methods;

Anyone from non-financial disciplines who needs to evaluate proposed business expenditure decisions;

New members of the management team who need to know more about the budgeting process.

Module 1

Financial Accounting

M1. Part 1: A Conceptual Framework: Setting the Scene (1)

Who Needs Accounting?

The Development of a Conceptual Framework;

The Statement of Principles;

Types of Business Entity;

Users and Their Information Needs;

General Purpose or Specific Purpose Financial Statements?;

Stewards and Agents;

Who Needs Financial Statements?

M1. Part 2: A Conceptual Framework: Setting the Scene (2)

A Systematic Approach to Financial Reporting: The Accounting Equation

The Accounting Equation;

Defining Assets;

Examples of Assets;

Recognition of Assets;

Defining Liabilities;

Examples of Liabilities;

Recognition of Liabilities;

Defining the Ownership Interest;

Recognition;

Changes in the Ownership Interest;

Assurance for Users of Financial Statements.

M1. Part 3: A Conceptual Framework: Setting the Scene (3)

Financial Statements from the Accounting Equation

The Accounting Period;

The Balance Sheet;

The Profit and Loss Account;

The Cash Flow Statement;

Usefulness of Financial Statements

M1. Part 4: A Conceptual Framework: Setting the Scene (4)

Ensuring the Quality of Financial Statements

Qualitative Characteristics of Financial Statements;

Measurement in Financial Statements;

Views on Prudence;

Regulation of Financial Reporting;

Reviewing Published Financial Statements.

M1. Part 5: Reporting the Transaction of a Business (1)

Accounting Information for Service Businesses

Analysing Transactions Using the Accounting Equation;

Illustration of Accounting for a Service Business;

A Process for Summarizing the Transactions: A Spreadsheet;

Financial Statements as a Means of Communication.

M1. Part 6: Reporting the Transaction of a Business (2)

Accounting Information for Trading Businesses

Goods Purchased For Resale;

Manufacturing Goods for Resale;

Illustration of Accounting for a Trading Business;

A Process for Summarising the Transactions: A Spreadsheet;

Financial Statements of Steven Jones, Wholesaler.

M1. Part 7: Recognition in Financial Statements (1)

Published Financial Statements

International Influences;

The Statement of Principles;

Balance Sheet;

Profit and Loss Account;

Cash Flow Statement;

Group Structure of Companies;

Group Financial Statements;

Beyond The Annual Report.

M1. Part 8: Recognition in Financial Statements (2)

Fixed Assets

Definitions;

Recognition;

Users' Needs for Information;

Information Provided In the Financial Statements;

Usefulness of Published Information;

Depreciation: An Explanation of Its Nature;

Reporting Fixed Assets and Depreciation in Financial Statements.

M1. Part 9: Recognition in Financial Statements (3)

Current Assets

Definitions;

The Working Capital Cycle;

Recognition;

Users' Needs for Information;

Information Provided In the Financial Statements;

Measurement and Recording;

Stocks of Raw Materials and Finished Goods;

Debtors Prepayments;

Revenue Recognition.

M1. Part 10: Recognition in Financial Statements (4)

Liabilities Due Within One Year

Definitions;

Recognition;

Users' Needs for Information;

Information Provided In the Financial Statements;

Measurement and Recording;

Accruals and the Matching Concept;

Liabilities for Taxation.

M1. Part 11: Recognition in Financial Statements (5)

Provisions and Long-Term Liabilities

Users' Needs for Information;

Information Provided In the Financial Statements;

Provisions for Liabilities and Charges;

Deferred Income;

Long-Term Liabilities.

M1. Part 12: Recognition in Financial Statements (6)

Ownership Interest

Definition and Recognition;

Presentation of Ownership Interest;

Additional Primary Financial Statements;

Users' Needs for Information;

Information Provided In the Financial Statements;

Dividends;

Issue of Further Shares on the Stock Exchange.

M1. Part 13: Performance Analysis (1)

Ratio Analysis

Systematic Approach to Ratio Analysis;

Investors' Views on Risk and Return;

Pyramid of Ratios;

Use and Limitations of Ratio Analysis;

Worked Example of Ratio Analysis.

M1. Part 14: Performance Analysis (2)

Analysis of Corporate Performance

Operating and Financial Review;

Other Guidance in Analysis;

Linking Ratios to the Cash Flow Statement;

Segmental Information.

M1. Part 15: Current Developments

Developing Issues in Financial Reporting

International Harmonization and Convergence;

Dynamic Nature of the True and Fair View;

Measurement of Value;

Off-Balance-Sheet Finance;

Related Parties;

Social and Environmental Disclosures;

The Reporting Cycle;

Summary Financial Statements;

Corporate Governance;

Financial Reporting Review Panel;

How Valid Is the Stakeholder Model?

Module 2

Management Accounting

M2. Part 1: Setting the Scene and Defining the Basic Tools of Management Accounting (1)

Functions of Management Accounting

Meeting the Needs of Internal Users;

Management Functions;

Role of Management Accounting;

Judgments and Decisions: Case Study Illustrations;

Terminology of Management Accounting.

M2. Part 2: Setting the Scene and Defining the Basic Tools of Management Accounting (2)

Classification of Costs

Definition of a Cost;

The Need for Cost Classification;

The Meaning of 'Activity';

Variable Costs and Fixed Costs;

Direct Costs and Indirect Costs;

Product Costs and Period Costs;

Cost Classification for Planning, Decision-Making and Control;

Cost Coding;

Cost Selection and Reporting.

M2. Part 3: Setting the Scene and Defining the Basic Tools of Management Accounting (3)

Product Costs: Materials, Labour and Overheads

Accounting for Materials Costs;

Accounting for Labour Costs;

Production Overheads: Traditional Approach;

Production Overheads: Activity-Based Costing (ABC);

Comparing Traditional Approach and ABC.

M2. Part 4: Product Costs and Stock Valuation (1)

Job Costing

Job Cost Records: An Illustration;

Job Costing: Applying the Accounting Equation to Transactions;

Absorption Costing and Variable Costing;

Moving Forward.

M2. Part 5: Product Costs and Stock Valuation (2)

Process Costing

Allocation of Costs to Products in a Process Industry;

Joint Product Costs and By-Products;

Decisions on Joint Products: Sell or Process Further.

M2. Part 6: Decision-Making Information

Breakeven Analysis and Short-Term Decision Making

Cost Behaviour: Fixed and Variable Costs;

Breakeven Analysis;

Using Breakeven Analysis;

Limitations of Breakeven Analysis;

Applications of Contribution Analysis;

Short-Term Decision-Making;

Pricing Decisions;

Application;

Problem Solving and Evaluation.

M2. Part 7: Planning and Control (1)

Preparing a Budget

Purpose and Nature of a Budget System;               

Administration of the Budgetary Process;               

The Benefits of Budgeting;                                        

Problems of Budgeting;                                              

Public Service Organisations;                                   

Practical Example - Development of a Budget ;

Shorter Budget Periods.                                                 

M2. Part 8: Planning and Control (2)

Standard Costs

Purpose of Using Standard Costs;                           

The Level of Output to Be Used In Setting Standards;

The Control Process;                                                  

Direct Materials Cost Variance;                                

Direct Labour Cost Variance;                                    

Variable Overhead Cost Variance;                           

Fixed Overhead Expenditure Variance;                   

Case Study: Lincoln Ltd;                                            

Investigating Variances;                                             

Flexible Budgets and Variance Analysis;                

Case Study: Jerald Ltd;                                              

Is Variance Analysis, Based On Standard Costs, A Useful Exercise?

A Broader View of Applications of Variance Analysis.

M2. Part 9: Planning and Control (3)

Performance Evaluation and Feedback Reporting

Preparing Performance Reports;

Performance Evaluation;

Benchmarking;

Non-Financial Performance Measures;

The Balanced Scorecard;

Management Use of Performance Measurement.

M2. Part 10: Capital Budgeting and Business Strategy (1)

Capital Budgeting

Purpose of Capital Budgeting;

Payback Method;

Accounting Rate of Return;

Net Present Value Method;

Internal Rate of Return;

Mutually Exclusive Projects;

Which Methods Are Used In Practice?;

Control of Investment Projects: Authorisation and Review;

Advanced Manufacturing Technologies.

M2. Part 11: Capital Budgeting and Business Strategy (2)

Business Strategy and Management Accounting

Strategic Management Accounting;

The Just-In-Time Approach;

Value Chain Analysis;

Total Quality Management and Cost of Quality;

Business Process Re-Engineering;

E-Business and E-Commerce.