Ai Knowledge Systems
Each program participant will get 1 year free individual license access to a Program Domain Specific AI System to Answer his job related queries
ANA561-2D
2 Week Job Process Performance & Productivity Process Skills Training
Practical Accounting for Non-Accounting Professionals & Managers
Building Skills in
Understanding Accounting Basis & Reports
Identifying Usual Mistakes/Misrepresentations in Accounting Reports
International Standards
Evaluating Health of Entity through its Accounting Reports
Identifying Key Concern Areas from the Reported Numbers
Fraud Prevention Actions, Aggressive Accounting and Misrepresentation Identification
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1 Week Training Programs
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What is covered in this Program?
This Job Process Competency program will provide the participant practical skills and competencies required to Understand Accounting Statements, and, Contribute effectively to the accounting process. The participant will understand what data was used to prepare the audit reports and what controls were in place when using the accounting data.
The participant will also understand the how to Identifying Usual Mistakes/Misrepresentations in Accounting Reports. The participant will understand the key requirements of the International Standards to which his organization subscribes. Participant will gain Understanding of how to Evaluating the true health of Entity Through its Accounting Reports. Participant will also understand how to Identify Concern Areas from the Reported Numbers. Program will also cover basics of Fraud Prevention, Aggressive Accounting and Misrepresentation.
Through this Accounting & Finance workshop the participant will gain Deeper Performance Level Insights into Accounting & Finance Technical & Management Processesmentioned above.
(1) Participant will attend hands on workshops to confirm development of actual job related Accounting & Finance skills.
(2)Participant will prepare a Accounting & Finance Performance Evaluation System based on Meaningful KPIs, Financial Ratios and Meeting of Operational and Strategic Objectives.
(3) Participant will understand Accounting & Finance Knowledgebase Framework that exists in his organization so he can perform his related job reponsibilities more effectively and efficiently.
(4) Participant will further prepare a Customized Action Plan detailing the Steps he can take in this Business Unit to understand and apply some of what he has learnt during the program to bring about improvements.
Understand the fundamentals of accounting, including key concepts, basis, and reports. Learn to identify common mistakes and misrepresentations in accounting reports.
Gain awareness of international accounting standards (e.g., IFRS, GAAP). Evaluate the financial health of an entity through its accounting reports.
Develop the ability to identify key areas of concern from reported financial numbers.
Understand fraud prevention measures and how to detect aggressive accounting or misrepresentation.
This Job Process Competency program will provide the participant practical skills and competencies required to Understand Accounting Statements, and, Contribute effectively to the accounting process. The participant will understand what data was used to prepare the audit reports and what controls were in place when using the accounting data.
The participant will also understand the how to Identifying Usual Mistakes/Misrepresentations in Accounting Reports. The participant will understand the key requirements of the International Standards to which his organization subscribes. Participant will gain Understanding of how to Evaluating the true health of Entity Through its Accounting Reports. Participant will also understand how to Identify Concern Areas from the Reported Numbers. Program will also cover basics of Fraud Prevention, Aggressive Accounting and Misrepresentation.
Through this Accounting & Finance workshop the participant will gain Deeper Performance Level Insights into Accounting & Finance Technical & Management Processesmentioned above.
(1) Participant will attend hands on workshops to confirm development of actual job related Accounting & Finance skills.
(2)Participant will prepare a Accounting & Finance Performance Evaluation System based on Meaningful KPIs, Financial Ratios and Meeting of Operational and Strategic Objectives.
(3) Participant will understand Accounting & Finance Knowledgebase Framework that exists in his organization so he can perform his related job reponsibilities more effectively and efficiently.
(4) Participant will further prepare a Customized Action Plan detailing the Steps he can take in this Business Unit to understand and apply some of what he has learnt during the program to bring about improvements.
Understand the fundamentals of accounting, including key concepts, basis, and reports. Learn to identify common mistakes and misrepresentations in accounting reports.
Gain awareness of international accounting standards (e.g., IFRS, GAAP). Evaluate the financial health of an entity through its accounting reports.
Develop the ability to identify key areas of concern from reported financial numbers.
Understand fraud prevention measures and how to detect aggressive accounting or misrepresentation.
Who Should Attend?
This Work Process Skills program is intended for Professionals, Supervisors and Managers from any Department of Business Unit.
Accounting and Audit Professionals may attend to gain a multi-discipline understanding and to refresh their Accounting Domain Knowledge. IT Professionals who are involved in Data Analytics or Accounting Software Development or Updating will find the program will provide them the Essential Domain Knowledge.
This Work Process Skills program is intended for Professionals, Supervisors and Managers from any Department of Business Unit.
Accounting and Audit Professionals may attend to gain a multi-discipline understanding and to refresh their Accounting Domain Knowledge. IT Professionals who are involved in Data Analytics or Accounting Software Development or Updating will find the program will provide them the Essential Domain Knowledge.
Program Content & Modules
Practical Accounting for Non-Accounting Professionals & Managers
Importance of accounting knowledge for non-accounting professionals.
Key objectives of accounting: recording, reporting, and decision-making.
Overview of the accounting cycle and reporting framework.
Understanding Accounting Basis & Reports
Accrual Basis vs. Cash Basis Accounting:
Differences and implications for financial interpretation.
Advantages and limitations of each approach.
Key Financial Reports Processes
Income Statement: Revenue, expenses, and profitability.
Balance Sheet: Assets, liabilities, and equity snapshot.
Cash Flow Statement: Operational, investing, and financing cash flows.
Practical guidance on reading and interpreting these reports.
Identifying Usual Mistakes and Misrepresentations in Accounting Reports
Common errors in financial reporting Processes
Revenue recognition issues.
Incorrect expense classification.
Misstatement of liabilities or assets.
Examples of misrepresentation Processes
Inflating revenue or underreporting expenses.
Improper use of estimates and assumptions.
Warning signs of misstatements, including unexplained variances or unusual trends.
International Standards Processes
Overview of IFRS and GAAP principles.
Importance of standards for consistency and comparability.
Key differences between IFRS and GAAP in revenue recognition, lease accounting, and asset valuation.
Role of accounting standards in global business operations.
Evaluating the Health of an Entity through its Accounting Reports Processes
Profitability: Analyze gross profit, operating profit, and net income.
Liquidity: Use current and quick ratios to assess short-term financial stability.
Leverage: Evaluate debt levels through debt-to-equity and interest coverage ratios.
Efficiency: Review asset turnover and working capital management metrics.
Cash Flow: Assess the sustainability of cash inflows and outflows.
Identifying Key Concern Areas from Reported Numbers Processes
Pinpointing red flags
Fraud Prevention Actions
Aggressive Accounting
Misrepresentation Identification
Best Practices for Non-Accounting Professionals
Use simple tools and techniques to analyze financial reports, such as ratio analysis and trend evaluation.
Ask critical questions about financial data to clarify assumptions and estimates.
Leverage financial data for strategic decision-making and risk assessment.
Improvement and Continuous Learning Processes
Stay updated on changes to accounting standards and practices.
Develop a habit of regular financial report review.
Collaborate with finance teams to enhance understanding and improve processes.
Reporting Processes
Learn to communicate financial findings effectively to stakeholders.
Present key metrics and insights in an accessible manner for non-finance audiences.
Use dashboards and visual aids for simplified reporting.
Key Areas of Focus for Non-Accounting Professionals
Practical Use Cases
Customer Focus | District Cooling | eDocument Management & eLibrary | Innovation | Logistics | Operational Audit | Maintenance | Management & Leadership | Mergers & Acquisitions | Intellectual Property | Project Management | Renewable Energy Solar | Corporate Security & Safety | Water & Waste-Water Treatment | Water Desalination |
Your Ai & Knowledge Partner
Ai Knowledge Systems USA Limited LLC
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