Certified Finance Manager
Most of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem! The Certified Finance Manager (CFM) Certification is designed to enhance the capabilities of finance professionals and also serves as a first step in the Finance Management profession.
The CFM Certification is highly recommended and will be of great interest to entrepreneurs and business professionals who would like to get a thorough knowledge to accounting practices and theory, and to any learner who is interested in accounting or finance as a future career.
For managers in today’s business world, it’s essential to have a working knowledge of finance. We all play a role in our organization’s financial health, whether we realize it or not. If you don’t have training or a background in finance, you may be at a disadvantage as you sit around the management table. Understanding the cycle of finance will help you figure out where you fit into your company’s
Course Audience
? Anyone who is a part of the Department of Finance and Deregulation Financial Management and Budgeting.
? Anyone needing to develop their understanding of finance, budgeting and accounts.
Course Objectives
? Establishing an objective measure of a candidate's knowledge and competence in the field of financial & management accounting.
? Help the accountants how to apply the academic knowledge into practical experience.
? Identify the: functional role of financial department in terms of accounting cycle and its final output.
? Encourage continued professional development for financial department team.
Course Benefits
? Full practical applying of accounting cycle starting from double entry system up to issuing financial reports and its analysis in accordance with IFRS.
? Identify the major accounting treatment for various types of activities such as: Investment, Construction, Retail & Merchandising, eCommerce and services companies.
? Explain the practical approach for handling accounting records and how to prepare monthly management reports after closing.
? Describe the art of finance and key financial terms and determine your role in company finances.
? Discuss various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of changes in owners’ equity along with full notes. & disclosures
? Explain how a chart of accounts is created and how to prepare effective accounting structure.
? Identify and analyze important financial data and make financial decisions & reading of annual reports.
? Determine whether a company is financially high or low risk.
? Explain what budgets are and how to prepare them of any type or size and recognize different types of organizational financial plans.
? Explain how to prepare financial analysis for your annual reports and understand how and why trend percentages are used when analyzing financial reports.
? Identify and discuss the underlying assumptions, major principles and modifying conventions of accounting.
? Process all the transactions necessary for a merchandising business with live cases.
? Calculate the net realizable value and use is as a key performance indicator (KPIs).
? Count and manage all the transactions relating to inventory explain how to evaluate cost of ending inventory and cost of goods sold under the four major inventory costing methods using periodic and perpetual inventory procedures.
? Put in place the controls to help prevent errors in the handling of cash by managing the checking account and petty cash transactions and the associated document flow.
Module (1): Accounting
? Introduction
? The Accounting Cycle
? The Key Reports
? A Review of Financial Terms
? Understanding Debits and Credits
? Your Financial Analysis Toolbox
? Identifying High and Low Risk Companies
? The Basics of Budgeting
? Working Smarter
? People and Numbers
Module (2): Budgets and Managing Money
? Introduction
? Finance Jeopardy
? The Fundamentals of Finance
? The Basics of Budgeting
? The Budgeting Process
? Budgeting Tips and Tricks
? Monitoring and Managing Budgets
? Crunching the Numbers
? Getting Your Budget Approved
? Comparing Investment Opportunities
? ISO 9001 :2008
? Directing the Peerless Data Corporation
Module (3): Accounting - Merchandising Transactions
? Merchandising Transactions
? Gross Selling Price
? Returns and Allowances
? Cost of Goods Sold
? Classified Income Statement
Module (4): Measuring and Reporting Inventory
? Merchandise Inventory
? Determining Inventory Costs
? Four Inventory Costing Methods
? Pro's and Con's of the Four Costing Methods
? Journal Entries for the Perpetual Inventory Procedure
? Determining from Cost Basis for Inventory Measurement
Module (5): Accounting Control and Monitoring of Cash Assessment
? Control of Cash
? Internal Controls
? Controlling Cash
? The Bank Checking Account
? Bank Reconciliation
? Petty Cash Fund
Module (6): Accounting - Receivables and Payables
? Accounts Receivable
? Uncollectable Accounts
? Write-offs and Recoveries
? Current Liabilities
? Notes Receivable and Note Payable
? Short Term Financing through Notes Payable
Module (7): Adjustments for Financial Reporting
? Cash versus Accrual Basis Accounting
? Classes and Types of Adjusting Entries
? Adjustments for Deferred Items - Expenses
? Adjustments for Deferred Items - Depreciation
? Adjustments for Accrued Items
Module (8): Accounting and Its Use in Business Decisions
? The Accounting Environment
? Accounting Defined
? Overview of Accounting
? Financial Statements of Business Organizations
? The Financial Accounting Process
? How Transactions Affect Income Statements and Balance Sheets
? Dividends and Equity Ratios
? Corporate versus Sole Proprietorship or Partnership Accounting
Module (9): Recording Business Transactions in Accounting
? The Account and Rules of Debit and Credit
? Recording the Transactions
? The Accounting Cycle
? The Accounting Process in Operation
? Analyzing and Using the Financial Results
? The Use of Ledger Accounts
Module (10): Completing the Accounting Cycle
? The Work Sheet
? Preparation of Financial Statements from the Work Sheet
? Accounting Systems: From Manual to Computerized
? The Closing Process
? A Classified Balance Sheet
? Analysis-Current Ratio
Module (11): Accounting Theory
? Traditional Accounting Theory
? Major Principles
? Modifying Conventions
? Objectives of Financial Statements
? Basic Elements of Financial Statements
Module (12): Financial Topics
? Foundation 1
? Foundation 2
? Checking Accounts
? Short Term Savings
? Credit
? Summary
? Foundation 3
? Money Management
? Matching Product
? Comparison with Cash Management
? Emergency Fund
? Managing Debt
? Insurance and Protection
? Employee Wages
? Employee Benefits
? Stock and Commodities Markets
? Inflation
? Homeowners Insurance
? Taxation
? Shares and Bonds