Every business organisation is required to collect data on all its financial transactions and report this on a regular basis in the form of company accounts. The ability to interpret the contents of company accounts is essential for financial managers, investors and other stakeholders.
In this module, we look at the process of bookkeeping and show how it is used to gather information for the preparation of formal accounts. The overview provided will allow you to see how each individual transaction is recorded and how, in turn, each one influences the overall financial picture provided by the accounts.
The preparation of the three key financial statements is described in detail and a number of examples are suggested for study. The interpretation of these statements is explained, mainly through the use of a range of ratios which indicate the effectiveness of the financial management of the business and its stability. With reference to these statements, the effects that budgets have on operations are described, along with the topics of depreciation and the importance of working capital management.
The final section of the module discusses the importance of a set of globally adopted accounting standards, without which it would be almost impossible to make useful comparisons between companies operating in different countries or markets.
Learning Outcomes Are
- Analyse the different methods commonly used to report financial information
- Develop an understanding of the techniques used to gather financial information.
- Investigate the use of each of the key financial statements for decision making
- Evaluate the financial stability and performance of an organisation using appropriate financial ratio calculations
- Understand the role played by international accounting standards as a means of producing uniform accounting methods
The Postgraduate Certificate Courses are short online courses that can be completed between 5 hours - 3 months. The courses can be started at anytime and the study time is also flexible.
Candidates are expected to have a minimum of 50% in their test assessment for them to have successfully completed the programme after which they will be issued a soft copy of their certificate via mail.
However, candidates who do not meet up to the 50% pass mark will have to repeat the test and pay a resit fee of N10,000 before their certificate can be issued.
Since the PGC Programme is a Postgraduate (MBA Pathway), candidates have the option of completing all the modules + eight (8) assignments to acquire the Level 7 PGD Certificate.