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Modern Techniques in Auditing and Financial Control

Classroom based course with study materials, lecturer support and CPD Hours included


London Training For Excellence

Summary

Price
£3,960 inc VAT
Study method
Online, self-paced
Duration
5 Days
Qualification
No formal qualification
Additional info
  • Tutor is available to students

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Overview

Learning Objectives: Identify and apply financial control and audit knowledge and skills. Appreciate how working capital might be optimized and controlled. Understand the need for close control and forecasting of cash flow. Analyze the need to identify cost accounting methods and techniques and appreciate their role in financial control and management. Review a variety of audit techniques and models. Use budgeting and project financial control methodologies. Carry out interpretation of accounting information analyses within the financial control context and audit. Appreciate the role of risk management in the financial control context and audit. Review the role of auditing and financial reporting from the point of view of the financial controller.

Description

Day 1 – 9am – 2pm

  • Introduction, financial policies and working capital management.
  • What is financial control and whose responsibility is it?
  • What financial control can do?
  • What financial control cannot?
  • Financial policies:
  • Examples.

Day 2 – 9am – 2pm

  • Monitoring and control.
  • Working capital management and control.
  • Stock control and inventory.
  • Debtors (receivables) control.
  • Creditors (payables) control.

Day 3 – 9am – 2pm

  • Working capital cycle.
  • Optimizing working capital.
  • Cash flow management, forecasting, budgeting and value chain analysis.
  • Cash flow management and control.
  • Elements of cash flow management.
  • Cash flow forecasting.
  • Cash flow budgeting.
  • Introduction of cost accounting methods and techniques.

Day 4 - 9am – 2pm

  • Absorption costing and Marginal costing.
  • Contribution analysis.
  • Cost volume profit (break even) analysis.
  • Forecasting, budgeting, project financial control and the interpretation of accounting information.
  • Variety and appropriate models:
  • Mathematical.
  • Non mathematical.

Day 5 - 9am – 2pm

  • Budgeting for financial control.
  • The financial control of projects.
  • Interpretation of accounting information.
  • Risk management, auditing and financial reporting.
  • Auditing and its role in financial control.
  • Financial reporting.

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