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CFAP (Certificate in Financial Accounting Professional)

The Certificate in Financial Accounting Professional (CFAP) aims to equip learners with the foundational knowledge and practical skills required to excel in the field of financial accounting.

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What you'll learn

The Certificate in Financial Accounting Professional (CFAP) aims to equip learners with the foundational knowledge and practical skills required to excel in the field of financial accounting. This program is meticulously designed to bridge the gap between theoretical principles and real-world applications, empowering participants to analyze, record, and present financial information accurately and effectively. The course seeks to: 1. Build a Strong Foundation in Accounting: Establish a solid understanding of accounting principles, concepts, and frameworks, enabling learners to comprehend the essential role of accounting in business operations. 2. Prepare Globally Competent Professionals: Provide insights into internationally recognized standards such as IFRS and IAS, ensuring learners are prepared to work in dynamic and globally interconnected financial environments. 3. Enhance Analytical and Problem-Solving Skills: Foster the ability to critically analyze financial data, identify discrepancies, and make informed decisions that add value to an organization. 4. Enable Practical Application of Knowledge: Develop the capability to prepare and interpret financial statements, perform reconciliations, and manage adjustments in compliance with professional standards. 5. Support Career Advancement: Offer a fast-track pathway to proficiency, designed for aspiring accountants, finance professionals, and entrepreneurs who aim to elevate their careers or businesses through enhanced financial acumen. By the end of the CFAP program, participants will not only master the technicalities of financial accounting but also cultivate the confidence and competence to contribute effectively to organizational success. This course serves as a stepping stone to further professional certifications, higher studies, or career opportunities in accounting and finance.

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Course Content

In this Module you'll learn Definition, Scope, and Importance of Financial Accounting, The Accounting Equation and its Role, Key Accounting Concepts and Conventions, Users of Financial Statements and Their Needs and Regulatory Environment and Framework

In this module you'll learn Principles of Double-Entry Accounting, Debits and Credits – Rules and Application, Journal Entries and General Ledger Maintenance, Chart of Accounts: Structure and Setup and Trial Balance Preparation and Error Rectification

In this module you'll learn Revenue and Expense Recognition Principles, Recording Sales and Purchases, Handling Discounts, Returns, and Allowances, Payroll and Employee Benefit Accounting and Accounting for Taxation and Other Liabilities

In this module you'll learn Accruals and Prepayments, Depreciation and Amortization Methods, Provisions and Contingencies, Adjustments for Bad Debts and Allowances and Adjusting Entries and their Impact on Financial Statements

In this section you'll learn about Introduction to the Income Statement, Balance Sheet: Assets, Liabilities, and Equity, Statement of Cash Flows – Direct and Indirect Methods, Notes to the Financial Statements and Statement of Changes in Equity

In this module you'll learn Overview of IFRS and IAS, Key IFRS Standards, Key IAS Standards, Applying Standards in Practical Scenarios, Recent Updates in Global Accounting Standards

In this module you'll learn Bank Reconciliation Statements, Control Accounts for Receivables and Payables, Suspense Accounts and Error Correction, Inventory Control and Valuation Methods, Internal Control Systems and Their Role

In this section you'll learn about Accounting for Non-Profit Organizations, Accounting for Partnerships: Formation and Dissolution, Company Accounting: Share Capital and Dividends, Consolidated Financial Statements (Basic Introduction) and Accounting for Foreign Transactions

In this section you'll learn about Ratio Analysis for Performance Evaluation, Trend Analysis and Comparative Statements, Horizontal and Vertical Analysis, Financial Health Indicators and Red Flags and Limitations of Financial Statement Analysis

In this section you'll learn about Real-World Case Studies in Financial Accounting, Hands-On Exercises on Preparing Financial Statements, Analyzing Common Mistakes and How to Avoid Them, Simulations of Financial Decision-Making Scenarios and Building and Presenting Professional Reports