1 / 42

FINANCIAL PLANNING FOR SENIOR MANAGERS

FINANCIAL PLANNING FOR SENIOR MANAGERS. ACCOUNTING METHODS AND FORMATION OF FINANCIAL STATEMENTS. FINANCIAL PLANNING FOR SENIOR MANAGERS. Fundamental requirement Show “true and fair view”. FINANCIAL PLANNING FOR SENIOR MANAGERS. Fundamental requirement Show “true and fair view”

licia
Download Presentation

FINANCIAL PLANNING FOR SENIOR MANAGERS

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. FINANCIAL PLANNING FOR SENIOR MANAGERS ACCOUNTING METHODS AND FORMATION OF FINANCIAL STATEMENTS

  2. FINANCIAL PLANNING FOR SENIOR MANAGERS • Fundamental requirement • Show “true and fair view”

  3. FINANCIAL PLANNING FOR SENIOR MANAGERS • Fundamental requirement • Show “true and fair view” • Prepared in accordance with: • Generally Accepted Accounting Principles (GAAP)

  4. FINANCIAL PLANNING FOR SENIOR MANAGERS • Fundamental requirement • Show “true and fair view” • Prepared in accordance with: • Generally Accepted Accounting Principles (GAAP) • Standard Statement of Accounting Practice (SSAP’s)

  5. FINANCIAL PLANNING FOR SENIOR MANAGERS • Fundamental requirement • Show “true and fair view” • Prepared in accordance with: • Generally Accepted Accounting Principles (GAAP) • Standard Statement of Accounting Practice (SSAP’s) • Financial Reporting Standards (FRS’s)

  6. FINANCIAL PLANNING FOR SENIOR MANAGERS • Four basic accounting concepts: • Going concern concept – assumes the business will continue

  7. FINANCIAL PLANNING FOR SENIOR MANAGERS • Four basic accounting concepts: • Going concern concept – assumes the business will continue • Accruals concept – income and costs matched

  8. FINANCIAL PLANNING FOR SENIOR MANAGERS • Four basic accounting concepts: • Going concern concept – assumes the business will continue • Accruals concept – income and costs matched • Consistency concept – same treatment one period to next

  9. FINANCIAL PLANNING FOR SENIOR MANAGERS • Four basic accounting concepts: • Going concern concept – assumes the business will continue • Accruals concept – income and costs matched • Consistency concept – same treatment one period to next • Prudence concept – full provision for all costs and losses

  10. FINANCIAL PLANNING FOR SENIOR MANAGERS • Accounting policies: • Sales income recognition

  11. FINANCIAL PLANNING FOR SENIOR MANAGERS • Accounting policies: • Sales income recognition • Depreciation of fixed assets

  12. FINANCIAL PLANNING FOR SENIOR MANAGERS • Accounting policies: • Sales income recognition • Depreciation of fixed assets • Stocks and work in progress

  13. FINANCIAL PLANNING FOR SENIOR MANAGERS • Accounting policies: • Sales income recognition • Depreciation of fixed assets • Stocks and work in progress • Research and development

  14. FINANCIAL PLANNING FOR SENIOR MANAGERS • Double entry bookkeeping • Each transaction represented by two entries

  15. FINANCIAL PLANNING FOR SENIOR MANAGERS

  16. FINANCIAL PLANNING FOR SENIOR MANAGERS • Double entry bookkeeping • Each transaction represented by two entries • Two simple rules apply:

  17. FINANCIAL PLANNING FOR SENIOR MANAGERS • Double entry bookkeeping • Each transaction represented by two entries • Two simple rules apply: • DEBIT the account of the receiver of value

  18. FINANCIAL PLANNING FOR SENIOR MANAGERS • Double entry bookkeeping • Each transaction represented by two entries • Two simple rules apply: • DEBIT the account of the receiver of value • CREDIT the account of the giver of value

  19. FINANCIAL PLANNING FOR SENIOR MANAGERS • Traditional structure of accounts

  20. FINANCIAL PLANNING FOR SENIOR MANAGERS • The Mega Toy Company

  21. FINANCIAL PLANNING FOR SENIOR MANAGERS • Types of accounting entries made • Trading and non-trading

  22. FINANCIAL PLANNING FOR SENIOR MANAGERS • Types of accounting entries made • Trading and non-trading • Cash and non cash

  23. FINANCIAL PLANNING FOR SENIOR MANAGERS

  24. FINANCIAL PLANNING FOR SENIOR MANAGERS

  25. FINANCIAL PLANNING FOR SENIOR MANAGERS

  26. FINANCIAL PLANNING FOR SENIOR MANAGERS

  27. FINANCIAL PLANNING FOR SENIOR MANAGERS

  28. FINANCIAL PLANNING FOR SENIOR MANAGERS

  29. FINANCIAL PLANNING FOR SENIOR MANAGERS

  30. FINANCIAL PLANNING FOR SENIOR MANAGERS

  31. FINANCIAL PLANNING FOR SENIOR MANAGERS

  32. FINANCIAL PLANNING FOR SENIOR MANAGERS

  33. FINANCIAL PLANNING FOR SENIOR MANAGERS

  34. FINANCIAL PLANNING FOR SENIOR MANAGERS

  35. FINANCIAL PLANNING FOR SENIOR MANAGERS

  36. FINANCIAL PLANNING FOR SENIOR MANAGERS

  37. FINANCIAL PLANNING FOR SENIOR MANAGERS

  38. FINANCIAL PLANNING FOR SENIOR MANAGERS

  39. FINANCIAL PLANNING FOR SENIOR MANAGERS

  40. FINANCIAL PLANNING FOR SENIOR MANAGERS

  41. FINANCIAL PLANNING FOR SENIOR MANAGERS

More Related