Financial institutions of every kind — from central banks to insurance companies and multinational corporations — share one requirement: every transaction that passes through their books has to be captured accurately. This course builds that skill through interactive, "learning by doing" exercises rather than theory recited in the abstract.

It also goes a step further by looking at how accounting supports financial decision-making, how reporting systems function inside an organisation, and the conceptual debates behind accounting estimates — including how consumption itself gets measured and recorded, and how that measurement ripples through to cash flows and taxes.

Who Should Attend?

• Supervisory agencies and central banks.
• Financial institutions, commercial and investment banks, and housing and savings associations.
• Investment funds, brokering companies, and stock exchanges.
• Insurance companies, multinational corporations, accounting and consulting firms, law firms, rating agencies, and multilateral financial institutions.

Knowledge and Benefits:

After completing the course, participants will be able to:

• Apply accounting concepts, the accounting equation, and accounting rules to register transactions.
• Modify and correct commercial records, and prepare and analyse financial statements.
• Settle accounting records accurately.

Module 1: Understanding Consumption Accounting

• Methods of accounting for consumption, and how consumption is measured and recorded.
• The effect of consumption on cash flows and income taxes.

Module 2: Accounting Theory and Financial Reporting

• Accounting under ideal conditions, and the usefulness of decision theory in the intellectual framework behind financial reports.
• Effective stock markets, access to information in decision-making theory, and methods of measurement and estimation.

Module 3: Standard-Setting and Economic Consequences

• The economic consequences of accounting choices, and how conflicts and disputes between contracting parties arise.
• Standard-setting from both an economic and a political perspective.

Module 4: From Transaction to Financial Statement

• Understanding the accounting framework, process, and completion cycle.
• Transaction analysis and registration, ledger posting, balancing accounts, and preparing the audit balance.
• Analysing financial statements, settling cash flows and bank balances, and recordkeeping.

Module 5: Inventory and Bookkeeping Foundations

• Basics of inventory accounting, inventory systems, and evaluation methods, and how inventory affects financial statements.
• Principles and terms of bookkeeping, accounting for transactions, and reconciling debtor and creditor control accounts and bank statements.
• Functions and areas of sub-accounting, account types, and discount and credit rules.