Management >> Costing Finance and Accounting
Accounting for Non-Accountants
MF127
Location
Duration
Date
Fee inclusive of VAT
Course Overview
In today's data-driven business world, professionals across all functions must understand financial information to contribute effectively to decision-making and organizational success. This course equips non-accountants with the essential tools of accounting, empowering them to grasp financial statements, comprehend the impact of business activities, and communicate more effectively with finance teams.
Course Objective
- Understand the principles and structure of the accounting cycle under IFRS.
- Apply double-entry bookkeeping and record financial transactions accurately.
- Analyze and interpret the main financial statements for informed business decisions.
- Identify key adjustments in financial reporting, including accruals and depreciation.
- Distinguish between different accounting standards (IFRS vs. GAAP) and their implications.
Who Should Attend?
- Department Managers and Supervisors
- Non-Finance Professionals in Sales, Operations, or HR
- Junior Finance Staff transitioning to broader roles
- Business Owners or Entrepreneurs
Course Outline
Module 1: Introduction to Accounting and Financial Statements
- What is accounting?
- Users of accounting information
- Overview of the four basic financial statements
- The corporate structure and financial reporting
- Business entity formats and accounting presentation
Module 2: International Accounting Standards
- Introduction to IFRS
- IFRS vs. US GAAP: Key differences
- Importance of global standards
Module 3: Double-Entry Bookkeeping Fundamentals
- The accounting equation
- Structure of double-entry system
- Understanding the chart of accounts
- Practical examples of entries
Module 4: The Recording Process
- General journal and ledger
- Trial balance construction
- Automation in bookkeeping systems
Module 5: Income Statement Components
- Defining revenues and recognition criteria
- Expense classifications
- Calculating net profit and equity
- Understanding capital stock and dividends
Module 6: Balance Sheet Fundamentals
- Structure and components of the balance sheet
- Classification of assets and liabilities
- Equity section explained
- Sample balance sheet interpretation
Module 7: Statement of Cash Flows
- Purpose and components of the cash flow statement
- Operating, investing, and financing activities
- Interpreting cash flow data
Module 8: Financial Statement Adjustments
- Accrual accounting concepts
- Prepayments, depreciation, and bad debts
- Provisions and contingent liabilities
Module 9: Integrated Financial Analysis
- Linking income statement, balance sheet, and cash flows
- Ratio analysis basics
- Evaluating business performance
Module 10: Review and Assessment
- Interactive case study analysis
- Group discussion and scenario exercises
- Final quiz and wrap-up discussion
Training Methodology
The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.
Terms & Conditions
ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy
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