Accounting for Corporate Life

·        Basic characteristics of partnerships. Accounting for the formation of a partnership. Preparation of income statements for partnerships. Differences between sole proprietorship and partnership result accounts.

·        Accounting for a new partner, for the retirement of a partner. Various methods used in partnership liquidation.

·        Pros and cons of organizing a business as a corporation. Differences in balance sheet presentation of equity between a corporation and a sole proprietorship. Earnings, distribution, dividends, etc.     

·        Purpose and nature of accounting. Accounting reports users. Accounting and business decisions. Accounting principles and equation. Recording process. Double entry system.

·        General journal: illustration of entries. Recording transactions in ledger accounts. Chart of accounts. Trial balance. Trial balance and errors.

·         Financial statements. Income statement. Capital statement. Balance sheet  

End of Year Accounting Operations

·         Determining the cost of fixed assets. Depreciation and scrap value. Causes of depreciation. Methods of computing depreciation.

·         Bank accounts reconciliation (whys and how’s).

·        Allowance for doubtful accounts. Conservatism as a factor in valuing accounts receivable. Reduction in value of inventories. Variation of inventories.

·        Preparing an adjusted income statement, effect of adjustment entries and taxes. Preparing classified balance sheet.

·        Completion of the accounting cycle. Preparing worksheets.

Assets & Liabilities Management

·         Types of inventories. Periodic and perpetual inventory system. Using LIFO, FIFO, Average, LCM to determine cost of goods sold and ending inventory under periodic system. Valuing inventories at end of year. Preparing provisions.

·         Determining cost of goods sold and ending inventory under perpetual system. Calculating inventory turnover ratios and the average age of inventory.

·         Economic Order Quantity: how much and when to order. Safety stock. Reorder point setting. Determining carrying and ordering costs.

·         Notes receivable, promissory notes. Nature of interest. Accounting for notes receivable. Discounting notes receivable. Dishonored notes.

·         Credit terms. Cash discounts. Trade discounts. Discounts allowed and discounts received. Allowance for doubtful accounts. Computing uncollectible accounts. Recovery of an account receivable previously written off.

·         Notes payable issued to banks and suppliers. Monitoring accounts receivables. Accounts receivable turnover. Average collection period.

Finance-Program Contents

Planning & Budgeting the Future

·        Nature of budgets. Pros and cons of budgeting. Developing the master budget. Sales budget. Production budget. Direct materials purchase budget. Direct labor budget. Factory overhead budget.

·        Cost of goods sold budget. Selling expenses budget. Administrative expense budget. Budgeted income statement. Budgeted balance sheet.

·        The cash budget. Collections and other cash receipts. Cash disbursements. Budgeting procedure.

Financial Analysis for Business Growth

·        The scope and purpose of financial analysis. Ratio analysis: Liquidity ratios, Activity ratios, Leverage ratios, Profitability ratios, Market value ratios.

·        Vertical analysis. Explain the nature and purpose of classifications in financial statements. Financial statement items as percentage of totals.

·         Horizontal analysis. Financial statement items as indexes relative to a base year. Analyzing financial statements from the perspective of common stockholders, creditors,

·        Measuring cash flows, initial investment, incremental cash inflows, and terminal cash flow. Methods for evaluating investment projects.

·        Payback period. Accounting rate of return (ARR). Net present value (NPV). Internal rate of return (IRR).

·        Linear programming: Linear programming either maximizes or minimizes a linear objective function subject to a set of linear constraints.

Business Financing & Investments

·        Working capital concepts. Significance of working capital management. Profitability and risk. Optimal amount (or level) of current assets. Classification of working capital. The requirement for external working capital financing.

·        Financial planning and control. Raising the additional funds needed. Financing feedbacks.

·        The cash conversion cycle: inventory conversion period, receivables collection period, payables deferral period. Marketable securities

Certificates

After successful completion of the program, participants receive the PIGIER Completion Certificate 

For more information about contents & schedule Call Pigier at 01-447899 or mail our Training Consultants:

- Mrs. Jocelyne Gemayel:     e-mail: jgemayel@pigierme.edu.lb

- Mrs. Tina Zeidane:           e-mail: tzeidane@pigierme.edu.lb

- Mrs. Aya Haddad:            e-mail: ahaddad@pigierme.edu.lb