Accounting Fundamentals

This course is designed to provide an insight into the fundamentals of accounting aimed at providers and users of accounting information who have little or no accounting knowledge. An enjoyable and well-proven short course, it is designed to help managers, executives and any users of accounting information better understand the language of accounting. More importantly what accounting reports really mean.

We begin with some basics of accounting, then move quickly into the format, content, and meaning of accounting reports applicable to small, medium and large businesses.

The course aims to address questions like:

• How can you make informed business decisions from financial reports that you don’t understand?
• What should I be looking for in financial statements?
• How would your work life be different if you were comfortable understanding your organisation’s reports and the implications those reports have on both your day to day business along with the long term goals of your organisation?

Topics covered

The course covers the following main topics:

• The language of accounting (concepts and terms)
• The accounting process and the importance of timing
• The Statement of Financial Performance. What the numbers tell us from (revenues, expenses, and net profit, or net loss)
• The Statement of Financial Position (assets liabilities, and shareholder’s equity)
• The Statement of Cash Flow. How cash flows differ from measuring profit
• Relevant case studies providing hands on practise

Outcomes

You will:

• Understand some of the terminology used by accountants
• Be able to explain how the accounting process works
• Be familiar with the structure and presentation of accounting reports
• Know how to read company financial
• Understand how accounting reports are linked

Your organisation will:

• Gain better informed staff on financial matters
• Have staff who can engage more confidently in financial discussions
• Gain more knowledgeable staff who have a greater appreciation for financial information