Financial Management Training

Introduction

The course is aimed to deliver the effective training related to the financial management. This will cover all the aspects including the financial and nonfinancial skills needed for the post of the accountant

Milestone One: Job Requirements and Skills

The accountants have the role in providing the financial advice to their clients that can range from the single proprietor to the multinational firms. There are the specialization areas for these professionals, in which they excel. These can be the auditor, forensic accountancy, management consultancy and taxation. These have some prefaced duties, and these include the preparation of the accounts of the organization, which employs them. Preparing the payrolls, arrange and submit customer invoices, with the estimation of income and the expenditure. Preparation of the financial statements and preparation of projected budget, analysis of different financial opportunities for investment. Marking the insolvency cases and have they’re following up.

Compensation and Benefits

Employee compensation has a major role in the employee- employer relationship. This has the mutual importance for both the stakeholders. An employer can compensate the employer for wages, or by salaries and with the portion of the profit, sharing with them in the form of bonuses. This compensation will include the different health and other benefits. These depend upon the competitiveness of the employee about the market, prevailing advantages and salaries(Satiani, Nair, Starr & Samson, 2014). There are different compensation plans also for the accountants and salary s a good option in this case.

Career Development and Training

Accountants need the training first, and then they practice their skills professionally. Training is the basic requisite for this job, as a technical one. Then they professionally grow in simple firms and then in the international firms in their account departments and gain experience there.

References

Aamir, A., Jehanzeb, K., Rasheed, A., & Malik, O. M. (2012). Compensation Methods and Employees’ Motivation (With Reference to Employees of National Commercial Bank Riyadh). International Journal of Human Resource Studies, 2(3), 221.

Satiani, B., Nair, D. G., Starr, J. E., & Samson, R. H. (2014). Essentials of negotiating for employment in a changing environment. Journal of vascular surgery, 60(1), 253-259.