Programme Objectives

By the end of the programme, participants will be able to:

• Describe the importance of the accounting process in proper business financial management.
• Describe the context and purpose of financial reporting.
• List the qualitative characteristics of financial information.
• Describe the context and usefulness of conceptual framework.
• Describe and illustrate the accounting principles.
• Explain the main provisions for financial reporting as those derive from accounting standards.
• Choose the appropriate accounting policies as per the guidance of relevant reporting standards.
• Explain the requirements of the main accounting standards.
• Develop financial statements in compliance with financial reporting standards.
• Encourage themselves to apply simple methods that provide meaningful financial results.
• Share their view regarding the importance of conceptual and regulatory frameworks for financial reporting.
• Discuss the importance of having and using a budget for corporate value creation.
• Discuss the role and purpose of the financial management function.

Programme Outline

• The financial reporting framework
• Anatomy of a balance sheet
• Controlling cash -The Cash Flow Statement
• Managerial Accounting: Reporting to management
• Budgeting: A business plan in numbers
• Financial management function
• Business analysis and valuation tools
• Investment appraisal
• Business finance
• Long term and short-term decision making
• The Cyprus Tax System
• Special contribution for the defence
• Capital gains tax

Who Should Attend

The programme is ideal for individuals engaging in accounting and finance at any level that are engaged in business decision making or engage in any way to the financial of the organization and would like to acquire a thorough overview of the topic.

Training Style

• Illustration of key terms and concepts
• Preparation and discussion of practical examples, including mini cases
• The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
• Activities and Break-out groups

Knowledge Test

At the completion of the knowledge areas, participants will be assessed via the form of Multiple-Choice Questions which will consist of questions related to the material taught. The aim of the assessment is to examine participants’ overall attention and knowledge of material taught as well as their competencies towards the implementation of practical cases.

CPD Recognition

This programme may be approved for up to 40 CPD units in Accounting and Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.