Certified Associate in Financial Management is a basic course for professionals with a non-finance background. This course easily simplifies the terms and gives a practical understanding of the Key Financial Principles and tools.
This course will give a basic understanding and the working knowledge of Finance helping the managers to make informed decisions.
- Closed Book
- 75 Questions, 1 mark each
- 75 minutes
There are no pre-requisites for this course.
Anyone with a non Finance Background who wish to understand Financial Management
Module 1: Financial/ Accounting Term and Techniques
- Objectives, advantages and limitations
- Types of Accounting information; users of Accounting information and their needs
- Business transaction, account, capital, drawings, liability (Non - current and current) asset; (Non - current; tangible and intangible assets and current) assets
- Receipts (capital and revenue), expenditure (capital, revenue and deferred expense, income, profits, gains and losses, purchases,purchases returns, sales, sales returns,stock Trade receivables debtors and bills receivable),
- Trade payables(creditors and bills payable), goods, cost, vouchers, discount - trade and cash
Module 2: Concepts and Convention of Accounting
- Fundamental accounting assumptions: going concern, consistency and accrual.
- Accounting principles (GAAP): accounting entity, money measurement, accounting period, full disclosure, materiality, prudence, cost concept, matching concept and dual aspect.
Module 3: Accounting Process
- Accounting equation: analysis of transactions using accounting equation.
- Rules of debit and credit: for assets, liabilities, capital, revenue and expenses.
Module 4: Taxation
- Meaning of tax and taxation
- Tax Terms
- Types of Tax
Module 5: Concepts of Business law
- Meaning of Business Law
- Types of Business law - Small Business Law ; Business Formation Laws; Zoning Law; License Laws; Tax Laws; Employee Laws; Health, Fire and Air, and Water Pollution Department Las; Intellectual Property Laws.
Module 6: Principles and Function of Management
- State the meaning, nature and significance of principles of management.
- Explain Taylor’s principles and technique of Scientific Management.
- Fayol’s principles of Management.
- Functions of Management : Planning ,Organising, Staffing ,Directing and Controlling
Module 7: International Financial Reporting Standard
- Meaning of IFRS
- History of IFRS
- Objective of financial Statement
- The qualitative characteristics of Financial statement
- Elements of Financial statement
- Requirements of IFRS
- Adaption of IFRS