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Integrated Accounting, Financial Strategies, Taxation Essentials and Governance for Non-Financial Managers and Business Leaders

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Home / Integrated Accounting, Financial Strategies, Taxation Essentials and Governance for Non-Financial Managers and Business Leaders

Classroom Sessions:

Date Venue Fee
12-14 March 2025 The Protea Balalaika Hotel, Sandton, Johannesburg ZAR: 11999.00

Online Sessions:

Date Venue Fee
12-14 March 2025 Online via ZOOM ZAR: 8999.00

Overview

In today’s dynamic business environment, a robust understanding of accounting, financial strategies, taxation, and governance is crucial for effective decision-making and leadership. The ” Integrated Accounting, Financial Strategies, Taxation Essentials and Governance for Non-Financial Managers and Business Leaders” workshop is meticulously designed to equip non-financial managers with the fundamental and advanced financial knowledge necessary to drive organizational success. This comprehensive program delves into the core principles of accounting, providing participants with a clear understanding of financial statements, balance sheets, income statements, and cash flow statements. By mastering these basics, attendees will be able to interpret financial data, assess company performance, and make informed strategic decisions.

Beyond the fundamentals, this workshop emphasizes advanced financial management techniques critical for navigating complex business landscapes. Participants will explore sophisticated financial strategies, including budgeting, forecasting, and financial planning. The workshop also covers investment analysis, risk management, and capital structure optimization, ensuring managers can maximize shareholder value and sustain long-term growth. Real-world case studies and practical exercises will allow participants to apply these techniques in various scenarios, enhancing their ability to handle financial challenges and seize opportunities effectively.

Taxation is another pivotal aspect of this workshop, particularly in the context of South Africa’s regulatory environment. Non-financial managers will gain a thorough understanding of the South African tax system, including corporate tax, VAT, and other relevant tax regulations. The workshop will highlight practical applications and compliance requirements, helping managers to navigate tax planning and reporting processes efficiently.

Lastly, the workshop integrates governance strategies that encompass accounting, finance, and taxation, providing participants with the knowledge to implement comprehensive governance practices. By the end of the program, participants will not only be adept at managing financial and tax responsibilities but also capable of integrating these insights into their strategic planning, ensuring holistic and sustainable business growth.

12 Key Takeaways from the Workshop:

  • Mastery of fundamental accounting principles and transaction recording practices.
  • Ability to interpret and analyze financial statements for informed decision-making.
  • Proficiency in financial ratios and their application to assess business performance.
  • Competence in building and using financial models for budgeting and forecasting.
  • Understanding of investment appraisal techniques and capital budgeting principles.
  • Knowledge of cost analysis methods, including marginal costing and
  • Skills in advanced financial management strategies, including risk mitigation and hedging.
  • Insight into financial management for various types of organizations and governance structures.
  • Comprehensive understanding of the South African tax system and its business implications.
  • Practical knowledge of tax compliance requirements and governance frameworks.
  • Expertise in applying tax regulations to different entities and ensuring compliance.
  • Integrated governance strategies encompassing accounting, finance, and taxation for holistic business management.

Day One: Fundamentals of Accounting and Financial Statements

  • Grasp fundamental principles governing financial transactions and recording practices.
  • Comprehend the structure, components, and conventions of financial statements for effective analysis.
  • Develop skills to interpret financial statements and assess business health through ratios and financial modeling.

Day Two: Advanced Financial Management Techniques

  • Learn investment evaluation methods and costing analysis for effective decision-making.
  • Explore strategies to manage financial risk, implement management accounting techniques, and navigate financial challenges.

Day Three: Taxation Overview, Application in South Africa, and Governance Strategies

  • Understand various tax types, compliance requirements, and their implications on business operations.
  • Ensure adherence to tax regulations, filing, and compliance best practices.
  • Develop comprehensive governance strategies encompassing accounting, finance, and taxation.

Day One: Fundamentals of Accounting and Financial Statements

Session One: Basic Concepts of Accounting

Introduction to Accounting Principles:

  • Accrual vs. Cash Basis Accounting
  • Principles of Revenue Recognition and Matching
  • Overview of Accounting Standards (e.g., GAAP, IFRS)

Recording Financial Transactions:

  • Double Entry System and its Application
  • Journal Entries and Ledger Maintenance
  • Real-time Transaction Recording Exercise

Fundamentals of Financial Reporting:

  • Importance and Purpose of Financial Reports
  • Basics of Balance Sheet, Income Statement, and Cash Flow Statement
  • Understanding the Role of Footnotes in Financial Reporting

Session Two: Financial Reporting and Statements

Overview of Financial Statements:

  • Deeper Dive into Balance Sheet Components
  • Understanding Income Statement Structure and Components
  • Analyzing Cash Flow Statement: Operating, Investing, Financing Activities

Accounting Conventions and Concepts:

  • Matching Principle and Revenue Recognition
  • Depreciation Methods and Inventory Valuation
  • Impact of Accounting Policies on Financial Statements

Understanding Financial Statement Components:

  • Assets, Liabilities, and Shareholders’ Equity Analysis
  • Revenue and Expense Recognition Criteria
  • Workshop: Analyzing Statement Components in Case Studies

Session Three: Financial Statements Analysis and Ratios

Interpretation of Financial Statements:

  • Vertical and Horizontal Analysis Techniques
  • Assessing Financial Health through Trend Analysis
  • Identifying Red Flags in Financial Statements

Key Ratios for Financial Analysis:

  • Liquidity, Solvency, and Efficiency Ratios
  • Profitability and Market Ratios
  • Hands-on Application: Calculating and Interpreting Key Ratios

Evaluating Business Performance Through Ratios:

  • Benchmarking Against Industry Standards
  • Assessing Company Performance Using Ratios
  • Case Studies: Applying Ratios for Financial Health Assessment

Session Four: Financial Modelling and Case Study

Introduction to Financial Modelling:

  • Purpose and Importance of Financial Models
  • Types of Financial Models: Forecasting, Budgeting, Scenario Analysis
  • Building a Simple Financial Model Exercise

 

Case Study: Financial Modelling Exercise:

  • Analyzing Real-world Financial Scenarios
  • Forecasting Cash Flows and Creating Projections
  • Workshop: Hands-on Financial Modelling Practice

Day Two: Advanced Financial Management Techniques

Session Five: Capital Appraisal and Investment Decisions

  • Investment Appraisal Techniques:
  • Payback Period, Net Present Value (NPV), Internal Rate of Return (IRR)
  • Evaluating Risk in Investment Projects
  • Capital Budgeting Principles

Capital Budgeting and Investment Decision Methods:

  • Understanding Capital Expenditures
  • Strategic vs. Tactical Investment Decision-making
  • Workshop Case Study: Assessing Investment Viability

 

 Evaluating Investment Opportunities:

  • Cost of Capital and its Significance
  • Capital Asset Pricing Model (CAPM)
  • Real Options in Investment Decision-making

Session Six: Costing and Analysis

Marginal Costing Principles:

  • Variable vs. Fixed Costs
  • Contribution Margin Analysis
  • Break-Even Analysis Techniques

Cost Volume Profit Analysis (CVP):

  • Understanding Cost-Volume-Profit Relationships
  • Impact of Sales Mix on Profitability
  • Implementing CVP Analysis in Decision-making

Budgeting and Standard Costing:

  • Importance of Budgeting in Financial Management
  • Setting Standards and Variance Analysis
  • Integrating Budgets with Overall Business Strategy

Session Seven: Financial Management

Advanced Financial Management Strategies:

  • Working Capital Management
  • Financial Derivatives and Hedging
  • Managing Financial Risks

Financial Risk Mitigation:

  • Identifying and Managing Financial Risks
  • Risk-Return Tradeoff in Financial Decision-making
  • Case Studies: Implementing Advanced Financial Strategies

Management Accounting Techniques:

  • Activity-Based Costing (ABC)
  • Responsibility Accounting
  • Workshop Case Study: Implementing Advanced Management Accounting Techniques

Day Three: Taxation Overview, Application in South Africa, and Governance Strategies

Session Eight: Overview of Tax in South Africa

Types of Taxes:

  • Corporate Income Tax, VAT, PAYE, UIF, SDL
  • Tax Planning Strategies
  • Understanding Tax Implications on Business Operations

Taxation Basis: Residents vs. Non-Residents:

  • Determining Tax Residency
  • Tax Treaties and Cross-Border Transactions
  • Case Studies: Applying Taxation Principles in Scenario Analysis

Understanding Tax Compliance and Governance:

  • Compliance Requirements for Businesses
  • Governance Framework in Taxation
  • Workshop Case Study: Ensuring Compliance with Tax Regulations

Session Nine: Tax and Financial Compliance

Brief Overview of Tax Filing and Returns:

  • Key Components of Tax Returns
  • Filing Deadlines and Penalties
  • Ensuring Accuracy in Tax Filings

Tax Implications for Business Operations:

  • Impact of Taxation on Financial Statements
  • Tax Credits and Incentives
  • Workshop: Hands-on Tax Compliance Exercise

Ensuring Compliance with Tax Regulations:

  • Internal Controls for Tax Compliance
  • Role of Financial Statements in Tax Compliance
  • Case Studies: Demonstrating Effective Tax Compliance Measures

Session Ten: Tax Considerations for Various Entities

Tax Implications for Different Types of Organizations:

  • Exemptions and Concessions for Specific Entities
  • Reporting Requirements for Tax-Exempt Entities
  • Workshop Case Study: Applying Tax Regulations to Different Entities

Session Eleven: Governance in Accounting, Finance, and Taxation (Part 1)

Governance in Accounting:

  • Principles of Corporate Governance in Accounting
  • Role of Internal Controls and Audit in Financial Governance
  • Ethical Considerations and Professional Standards

Financial Governance:

  • Board Responsibilities in Financial Oversight
  • Strategic Financial Planning and Governance
  • Governance in Financial Reporting and Disclosure
  • Case Studies: Governance Failures and Best Practices
  • Workshop: Developing Governance Frameworks for Accounting and Finance

Session Twelve: Governance in Accounting, Finance, and Taxation (Part 2)

Tax Governance:

  • Governance Frameworks in Taxation
  • Compliance, Risk Management, and Reporting
  • Role of the Board and Executives in Tax Governance

Integrating Governance Across Functions:

  • Aligning Accounting, Finance, and Taxation Strategies
  • Implementing Holistic Governance Practices
  • Ensuring Transparency and Accountability
  • Case Studies: Successful Governance Integration
  • Workshop: Crafting Comprehensive Governance Strategies for Organizations