SMEs Accounting and Financial Management Training Course

Course Outline

Module 1: Introduction to Accounting & Finance for SMEs

ü  The role of finance and accounting in SME success

ü  Basic accounting concepts and terminology (Assets, Liabilities, Equity, Revenue, Expenses)

ü  Accrual vs. Cash basis accounting – implications for SMEs

ü  Introduction to the Chart of Accounts for SMEs

ü  Practical Session: Designing a simple Chart of Accounts suitable for a small service or trading business

Module 2: Essential Bookkeeping and Record Keeping for SMEs

ü  Importance of accurate record-keeping

ü  Understanding double-entry bookkeeping principles

ü  Recording common business transactions (sales, purchases, expenses, cash)

ü  Bank reconciliation process and importance

ü  Practical Session: Recording sample transactions in journals/ledgers and performing a basic bank reconciliation using templates

Module 3: Preparing Financial Statements for SMEs

ü  Overview of key financial statements: Income Statement, Balance Sheet, Cash Flow Statement

ü  Step-by-step preparation using adjusted trial balance data

ü  Understanding simplified reporting standards (e.g., IFRS for SMEs overview if applicable, or local GAAP)

ü  Common pitfalls in SME financial statement preparation

ü  Practical Session: Preparing a basic set of financial statements (Income Statement, Balance Sheet) from provided SME transaction data

Module 4: Understanding and Analyzing SME Financial Statements

ü  Reading and interpreting the Income Statement, Balance Sheet, and Cash Flow Statement

ü  Key financial ratios for SMEs (Liquidity, Profitability, Solvency, Efficiency)

ü  Trend analysis: comparing performance over time

ü  Benchmarking against industry averages (where available)

ü  Practical Session: Calculating and interpreting key financial ratios using an SME case study financial statements

Module 5: Budgeting and Forecasting for SME Growth

ü  Why budgeting is crucial for SMEs

ü  Types of budgets (Operational, Sales, Expense, Cash Budget)

ü  Steps in creating a simple budget

ü  Introduction to financial forecasting

ü  Practical Session: Developing a simple 6-month sales and expense budget for a sample SME

Module 6: Effective Cash Flow Management in SMEs

ü  Understanding the cash flow cycle in an SME

ü  Techniques for managing accounts receivable and payable

ü  Preparing a cash flow forecast/budget

ü  Strategies for managing cash shortages and surpluses

ü  Practical Session: Creating a simple monthly cash flow forecast based on budgeted income and expenses

Module 7: SME Taxation: Compliance and Planning Essentials

ü  Overview of major taxes affecting SMEs (e.g., VAT/Sales Tax, Income Tax, Payroll Taxes)

ü  Understanding registration and filing requirements

ü  Record-keeping for tax purposes

ü  Basic tax planning strategies for SMEs

ü  Practical Session: Calculating estimated income tax liability for a simple SME scenario

Module 8: Managing Working Capital Effectively in SMEs

ü  Understanding the components of working capital (Inventory, Receivables, Payables)

ü  Strategies for optimizing inventory levels

ü  Techniques for effective credit control and receivables management

ü  Managing supplier payments and payables

ü  Practical Session: Analyzing the working capital cycle of an SME case study and identifying areas for improvement

Module 9: Financing Options and Accessing Capital for SMEs

ü  Overview of funding sources: Debt (loans, overdrafts) vs. Equity

ü  Bank financing: requirements and application process

ü  Alternative financing: Microfinance, Angel Investors, Venture Capital (brief overview)

ü  Government support schemes and grants for SMEs (if applicable locally)

ü  Practical Session: Evaluating the pros and cons of different financing options for an SME expansion scenario

Module 10: Basic Financial Controls and Risk Management for SMEs

ü  Why internal controls are important even for small businesses

ü  Simple, cost-effective controls for key areas (cash handling, purchasing, sales)

ü  Segregation of duties in an SME context

ü  Identifying common financial risks faced by SMEs

ü  Practical Session: Designing basic internal control procedures for handling cash receipts and payments in a small business

About the Trainers

Our trainers are highly experienced professionals and academics with extensive backgrounds in accounting, finance, auditing, and specifically working with or within SMEs. They possess practical industry knowledge combined with strong facilitation skills to deliver an engaging and impactful learning experience relevant to the SME environment.

Quality Statement

We are committed to providing high-quality training that is relevant, practical, and up-to-date for SMEs. Our course materials are meticulously developed, and our methodologies are designed to maximize participant engagement and learning retention, ensuring you receive the best value.

Admission Criteria

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254737566961

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254720272325 / +254737566961 or Email training@phoenixtrainingcenter.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737566961