Accounting for non-accountants

In today’s demanding and fast-paced business world, it is considered imperative that non-accounting professionals and management staff have the necessary skills and knowledge to interpret accounting and financial data. The trainers of the seminar aim to provide participants with the basic skills and knowledge required to understand financial statements. They will also give participants the opportunity to familiarise themselves with the financial and investment appraisal factors, comprehend the process regarding how to prepare financial projections and gain basic knowledge on business valuations.

By the end of the training, participants will be able to:

• Acknowledge the basic tools for investment analysis and appraisal
• Explain the process of preparing financial projections
• Share the dates for tax and financial statements submission
• Apply the basic accounting and financial principles
• Check financial statements by calculating and explaining key financial ratios
• Encourage a risk basis approach to resolve and handle successfully any issues that may arise
• Adopt an approach to understanding simple accounting subjects from a non-accountant perspective.

The training is addressed to management staff, directors of departments and other relevant professionals with no or basic accounting knowledge, do not deal with in depth accounting matters or do not hold a qualification in accounting, like lawyers, legal advisors, doctors, officers/managers of financial institutions (such as Banks, Insurance Companies, etc.) and small business owners (hotel owners, restaurant owners, retail industry business owners).

All participants should be currently employed.

*The number of participants is restricted to 28.

1. Introduction: Seminar’s objectives (15 min)

• Assist participants to comprehend the basic principles of accounting
• Improve participants’ capacity in understanding the basic financial principles

2. Accounting and Finance (1 hr & 15 min)

• “Accounting”, “Finance” and other useful definitions
• Fair values
• Revenue
• Business combinations
• A set of financial statements: contents
• Financial risks and credit risks

3. Financial Statements (1 hr)

• Requirement to prepare financial statements
• A set of financial statements: contents
• Management report
• Auditors report

4. Financial ratios and investment appraisal (1 hr & 30 min)

• Comprehending and investigating the balance sheet statement, profit or loss, other comprehensive income statement and cash flow statement.
• Key financial ratios/indicators
• Ratio analysis and practical examples
• Investment appraisal and practical examples

5. Budgeting and forecasting (1 hr)

• Business life cycle
• Preparation of forecasts and budgets and practical examples

6. Corporate Finance (1hr)

• Business life cycle
• Business valuation – basic principles
• Creditworthiness and ability to borrow

7. Regulatory environment: Briefing on general tax framework (30 min)

• Briefing on general tax framework
• Brief description of tax income
• Tax compliance timeframe for legal entities
• Conclusion.

Our services include:

• Handouts, including the hard copy presentation, examples, case studies, exercises, and additional notes, if applicable.
• Stationery, such as pads, pens, and files.
• Drinks (coffee, tea, etc.) and a buffet lunch.
• A fully equipped training room with WiFi access.
• Certificate of completion.

If you wish to register for the seminar, please complete the registration form.

Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the seminar’s date for your registration to be confirmed.

The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available, therefore enroll in this seminar as soon as possible.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.

Cost

€260 Net investment after subsidy from the HRDA of €130: €130 for all eligible participants*

€260 + VAT (19%) for all participants who are non-eligible for the HRDA subsidy.

*Last Date for 10% Early Bird Discount: 08/10/2024

Note

We do not provide a soft copy of the presentation for face-to-face seminars. However, if you would like to request one, please contact us. We may be able to provide it, subject to approval. In this case, the cost of the soft copy will be €50 for participants who have already attended the relevant training, or €100 for those who have not.
 

HRDA Note

For HRDA approved trainings, all individuals who wish to attend our training courses should not only fill out our registration form, but also complete the registration process through the ERMIS platform in order to be approved by the HRDA. Please reach out to the HRDA Ermis officers on 22 390 300 for more details regarding this process. Kindly also note that each participant regardless if they are claiming the HRDA subsidy or not, will need to complete their registration through ERMIS as a physical person and choose our training in order to be able to attend (either as an employee whose company is claiming the subsidy or as an individual not claiming the subsidy).
 

Discounts available

• For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enroll in the same seminar, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• For individuals/legal entities who/which register in more than two (3+) seminars during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enroll in more than two (3+) seminars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early bird discount and the HRDA subsidy, when applicable. For more information on our alumni scheme, click here.
• There is a 10% early bird discount on selected seminars for participants who enroll in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
• HRDA subsidy for all HRDA approved seminars. 
• Please note that while participants may qualify for multiple discounts, a maximum of two discounts, up to a total of 20%, can be applied per registration.

Contact

For any queries, please contact Vasiliki Sioziou on +357 22 207 460 or at academy@kpmg.com.cy

CPD

This seminar may contribute to Continuing Professional Development requirements. At the end of the seminar participants will be given a certificate of attendance confirming the total number of training hours (6,5 CPD).

Pangratios Vanezis
Board Member, IFRS 9 and IFRS 17 implementation leader, Audit, KPMG in Cyprus

Pangratios joined KPMG in Cyprus in 2003 and became a Board Member in 2017. He holds a BA in Accounting & Finance from Lancaster University and is an Associate member of the Institute of Chartered Accountants in England and Wales.

Pangratios possesses versatile industry experience deriving from sectors such as the financial services, consumer products, airline transport industry, agriculture and food and beverages. In 2014, he was pivotal in the creation of the KPMG Enterprise and Startups team of KPMG in Cyprus, for which he acts as the team leader.

He is actively involved in the group which offers training and support within KPMG in Cyprus, as well as in the DPP (Accounting) of KPMG in Cyprus, which provides insights, consultation and training on financial reporting issues both internally and externally. Pangratios is the implementation leader and contact person on IFRS 17 and IFRS 9 matters of KPMG Cyprus IFRS Helpdesk team. 

Katerina Papanicolaou
Board Member, Direct Tax services, KPMG in Cyprus

Katerina graduated with a bachelor’s degree (Hons) in economics from the University of East Anglia in the UK. She is a Fellow Member of the Association of Chartered Certified Accountants (FCCA) and an ADIT graduate. Additionally, she is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC) and a certified “Trainer of Vocational Training” by the HRDA.

Katerina joined KPMG in Cyprus in 1995, where she worked in the Audit department prior to moving to Tax Services. Her portfolio of clients consists of companies listed in the Cyprus Stock Exchange, as well as medium and large companies, both local and international.

Katerina possesses experience in the Investment, Real Estate, Insurance and Retail industries. She is experienced in direct tax compliance services and actively participates in assisting clients during their tax examination by the Tax department, for identifying and settling their tax liabilities.

Christos Miltiadous

Manager, Accounting Advisory Services department, KPMG in Cyprus

Christos joined KPMG in Cyprus in 2022. He holds a BSc in Accounting and Finance from Lancaster University in the UK, and he has been a member of the Institute of Chartered Accountants in England and Wales since 2019. Christos also holds an MBA from the University of Limassol (formerly Cyprus International Institute of Management).

Christos possesses versatile industry experience deriving from several sectors, such as the financial services, shipping industry, rental properties, and food and beverages.

Christos is currently at the Accounting Advisory Services department, providing technical accounting guidance on the correct application of IFRSs requirements for complex transactions. Furthermore, Christos has been involved in the delivery of various presentations to KPMG staff and clients on IFRS matters such as IFRS Updates and IFRS 17.