• To understand the basic accounting concepts, principles and standards
  • To identify the user of financial statements
  • To introduce the regulatory framework guiding the preparation of financial statements
  • To apply the principles and procedures of double entry bookkeeping
  • To Prepare financial statements according to IFRSs and IPSAs
  • To explain the relevance of management accounting in day to day activities of a manager
  • To identify the type of costs and their relevance in decision making
  • To apply the concept of differential analysis in decision making
  • To understand why organizations budget and the process they use to create budgets in both private and public institutions
  • Evaluating the acceptability of an investment project using different evaluation techniques


This module introduces the trainees to financial and managerial accounting. This aim of the module is to ensure that trainees understand the role, function and basic principles of financial accounting and master the rules of double entry bookkeeping. Trainees also develop the ability to prepare, analyze and report on financial statements for basic reporting entities in accordance with International Financial Reporting Standards (IFRSs) as well as International Public Sector Accounting Standards (IPSAS). The module further focuses on key managerial issues that trainees will need to use in the day to day activities. It focuses on fundamental principles of managerial accounting with a main focus on planning, control and decision making.


Session 1

General Framework of accounting, regulatory and non regulatory framework

Session 5

Managerial Accounting and Cost Concept

Session 2

Double Entry, Trial Balance, and introduction to financial statements

Session 6


Session 3

Adjustments on Financial Statements and use of international standards in preparation of financial statements

Session 7

Differential Analysis: The Key To Decision Making

Session 4

Introduction To Management Accounting – Overview

Session 8

Capital budgeting decisions


Financial and Management accounting module is relevant to any trainee whether you end up working for a large corporation, a small entrepreneurial firm, a nonprofit organization, or a governmental entity, you will need to know how to plan for the future, how to make progress toward achieving goals, how to make intelligent decisions as well as how to record, organize, summarize and report the financial position and performance. So this module is relevant to officers, Junior Staffs, Middle Level Managers as well as Top Managers.


Visit www.rmi.rw for the detailed Training Calendar. The venue and time may be adjusted according to the trainees' request, terms and conditions apply.