PRACTICAL ACCOUNTING ACADEMY (PAA)
TARGET AUDIENCE
Undergraduates, Fresh graduates, small business owners, non-accountants interested in improving
their accounting knowledge, Accountants in small companies/start-ups.
AREAS COVERED
MODULE 1:
This module covers the following areas
- Excel for Accountants (EFA),
- Accounting Cycle in Practice (ACiP) &
- Preparation of mgt. accounts
Excel for Accountants
1.) Excel - shortcuts for enhancing efficiency
- Navigation
- Presentation
- Data manipulations
- Quick access toolbar
2) Working with excel functions
- Date and Time - date, edate, eomonth
- Text - find, replace, substitute proper
- Finance functions
- IF, AND, and OR
3.) Advance features
- Name manager
- Tables
- Goalseek
- Custom format
- Data validation
4.) Advance functions
- Index and match
- Small, large, max, min
- SUMIF(S), COUNTIF(S), AVERAGEIF(S)
- Vlookup
5.) Advance functions
- Offset
- Sumproduct
6.) Data analysis and visualization
- Dynamic charts and graph
- Pivot
7.) Case Study
This will cover the application of multiple functions that was taught during the program
Accounting Cycle in Practice (ACiP)
The training generally involves using Microsoft Excel to show participants how the accounting cycle
works in practice. The facilitator would be making use of Microsoft Excel to carry out the following:
- Building charts of accounts
- Creating General Ledgers (GLs)
- Posting common accounting transactions into the GL
- Creating trial balance (TB)
- Trial balance mapping
- Introduction to period end (month-end or year-end) closure.
- Demonstration of some accounting schedules maintained for the purpose of period end (either month-end or year-end) closure.
Preparation of management accounts
- Income statement with variance analysis
- Statement of financial position
- Statement of cash flows
- Dashboards
MODULE 2: FINANCIAL MODELLING
1.) Building a Startup Model from Scratch
Creating a Professional Template
Gathering data needed for the financial Model Build.
Extracting assumptions for the model build. '
Building out the Calculations Worksheet.
Forecasting the three financial statements [P&L, BS, and CF].
Scenarios & Sensitivity in Financial Modeling
2.) Investment Evaluation
Cost of Capital [WACC],
Net Present Value [NPV] and Internal Rate of Return Margins,
Ratio Analysis,
Payback Period [PBP] and
Break-Even Period
3.) Drivers of Financial Model
Extracting Historical Financials.
Analyzing the Historical Performance of a Business
Understanding drivers in Financial Modeling
4.) Restructuring and Normalization of Financial Statement
Accountant Structure & Analyst Structure of Financial Statement.
Restructuring Income Statement based on Drivers.
Restructuring Balance Sheet based on Drivers
5.) Model Assumptions and Forecasting Methods in Modeling
Model Assumptions and Forecasting Methods in Modeling
Techniques to getting assumptions for forecasting
Understanding Predictive Power of Drivers
6.) Building a 3 Statement Corporate Model from Scratch
Forecasting Income Statement Line Item
Building out the Balance Sheet Schedules
Forecasting Balance Sheet Line Item
Financing Calculations and Circularity in Model.
Incorporating Scenarios and Sensitivity
Revolver, overdraft
Modeling Audit
MODULE 3: TAX PRACTICE
Valued Added Tax (VAT)
Introduction and general overview of Value Added Tax (VAT) in Nigeria
Overview of the goods and services exempt from VAT
Explanation of input and output VAT VAT deduction at source and self-charge
Overview of the key changes in the Finance Act and VAT modification order
Approach to filing of VAT returns and payments
Recently decided cases on VAT in Nigeria
Case study on practical issues in VAT Preparing for tax audits relating to VAT
Withholding Tax (WHT)
Introduction and general overview of WHT in Nigeria
Understanding the applicable rate for transactions subject to WHT
Overview of transactions not liable to WHT Filing of WHT returns
Case study on practical issues in WHT
Preparing for tax audits relating to WHT
Companies' Income Tax (CIT) & Tertiary Education Tax (TEDT)
Introduction and legal bases
Taxable income, deductible expenses and tax-exempt income
Capital allowance computations - basis, rates, balancing adjustments
Basis period and the determination of assessable profits and taxable profits
Format for income tax computations
Compliance requirements (Filing requirements and payments)
Some practical and stay-awake issues
Education tax - rates, timeline for remittance
Case studies
Preparing for tax audits relating to CIT & TEDT
Personal Income Tax
Introduction to PIT
Chargeable Persons
Relevant Tax Authority and Place of Residence
Basis of Assessment
Chargeable Income and Exempted Income
Reliefs and Allowances
TRAINING DATES:
Module 1: April - May (then 1 month break in June to allow participants strengthen their knowledge of the Module and also allow those who wrote the ICAN May Diet join in)
Module 2: July (then a 1 month break in August to allow participants strengthen their knowledge of the Module)
Module 3: September
DURATION: 6 Months
TIME:
Saturdays (10am to – 2.30pm including a 30 minutes break from 12.30pm to 1pm)
Sundays (1pm to 4pm – including a 30 minutes break from 2.30pm - 3pm)
PRICE:
Virtual participants
Module 1: N25,000
Module 2: N15,000
Module 3: N10,000
If you wish to take all 3 modules you will enjoy a discount of 30% and pay N35,000
Physical participants
Module 1: N50,000
Module 2: N30,000
Module 3: N20,000
If you wish to take all 3 modules you will enjoy a discount of 30% and pay N70,000
Please see the link below to register for the upcoming training and claim your free accounting e-books and templates:
https://forms.gle/WLTP1rvpcPUnY6xUA
You can reach out to us for further details on:
WhatsApp chat to: +234 706 685 5973