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Accounting and Finance World Bank Compliant Seminar or Course - At the institution - London - Greater London
Part 1: A Conceptual Framework: Setting the Scene The Accountant and the Accounting Environment Ø Accounting – Defined;Ø The Development of a Conceptual Network;Ø External Reporting;Ø Internal Reporting;Ø Types of Business Entity:· Sole Trader;· Partnership;· Limited liability Company.Ø Formation of Business Entity;Ø Running the Business;Ø Accounting Information;Ø Meeting Obligations;Ø Users and Their Information Needs;Ø General and Specific Purpose;Ø Agency Theory. A System Approach to Financial Reporting: The Accounting Equation Ø Assets and Liabilities;Ø The Accounting Equation – Statement of Financial Position;Ø Alternative Ways of Expressing Accounting Equation;Ø Asset:· Definition;· Examples;· Recognition.Ø Liabilities:· Definition;· Examples;· Recognition.Ø Ownership Interest;Ø Changes in Ownership Interest;Ø Subtracting;Ø Causes of Changes in ownership Interest;Ø Revenue and Expense;Ø Net Impact of Business Transaction;Ø Equation for Change in Ownership Interest. Financial Statements from the Accounting Equation Ø Primary Financial Statements;Ø Financial Statement Preparation;Ø Statement of Financial Position – Balance Sheet;Ø Other Forms of Statement – Horizontal and Vertical;Ø Income Statement;Ø Statement of Cash Flows;Ø Subdivision of Cash Flows;Ø Profit Does Not Equal Cash;Ø Practical Illustration;Ø Debit and Credit Recording;Ø Analysis of Transaction;Ø Trial Balance. Ensuring the Quality of Financial Statements Ø Qualitative Characteristics;Ø Relevance and Reliability;Ø Measurement Principles;Ø Materiality;Ø Prudence;Ø Regulation;Ø Reviewing Published Financial Statements. Management Accounting Ø Introduction;Ø Meeting the needs of internal users;Ø Management functions;Ø Role of management accounting;Ø Judgments and decisions: case study illustrations;Ø Terminology of management accounting;Ø Cost:· Definition of a Cost;· The Need for Cost Classification;· The Meaning of 'Activity';· Variable Costs and Fixed Costs;· Direct Costs and Indirect Costs;· Product Costs and Period Costs;· Cost Classification for Planning, Decision-Making and Control;· Cost Coding;· Cost Selection and Reporting. Part 2: World Bank Overview and Its Financial Aspects Introduction to World Bank Ø Strategies:· Comprehensive Development Framework;· Country Assistance Strategies;· Poverty Reduction Strategies;· Non-lending Activities;· Debt Relief (HIPC);· Low Income Countries Under Stress. Ø Country Diversity:· Low Income Countries;· Middle Income Countries;· Fragile and Conflict-Affected Countries. Ø Development Effectiveness:· Harmonization;· Alignment;· Aid Effectiveness Review. Ø Project Database:· Country lending Summaries;· What is a Project?;· Project Major Sector;· Procurement Method;