ACCOUNTING for NON-ACCOUNTANTS

Workshop Description

Many managers and key persons of a business have had no training in accounting but their jobs require that they track the P&L statements and other reports produced by the accountants. Where do these reports come from? How are they constructed? How can I use them to full advantage? This is a 2 day course designed to answer these questions.

At the end of the workshop, you will all about debits and credits and how they work. You will be able to speak accounting, the main language for business transactions. You will also be able to translate financial events that occur in a business, e.g. selling, purchasing etc., into transaction entries using accounting journals.

This workshop aims to give participants with hands on experience as to how financial statements are organized, prepared, and analyzed along the firm’s different phases of growth.

Outline of the Workshop

Day 1:

• Basic bookkeeping
• Records and Reports
• Financial Statements

Day 2:

• Principles of Financial Management
• Financial Planning
• Capital Budgeting, Cost Volume Profit Analysis, Working Capital
• Practice Session: Comprehensive Case

Course Requirements:

Please bring your own laptop or note book in order to participate fully in the exercises.

Every lesson above will be accompanied by mini-cases and exercises that participants are expected to accomplish. This is to test for the basic concepts, principles, and techniques that must be understood in order to complete each topic.

The practice session gives participants a feel of how to prepare a company’s financial statements from scratch. Materials will be provided to them, such as a bank statement, check register, deposit and/or sales information, payroll reports, and any other pertinent items. Like an accountant, the participants will review this information, and will organize and input them into their own computers and then run a set of financial statements.

Secondly, they will learn how to gauge the value of a business for purposes of buying one. They will make a set of books starting from sole proprietorship, to a partnership and finally, as a corporation. Monthly financial statements will be prepared with an assumed time frame of 12-months each for sole proprietorship, to a partnership and as a corporation. The books will be closed at the end of every year. An analysis of the enterprise’s financial performance for three years should also be performed.

Who Should Attend

• Managers who need a good understanding of financial reports and how to best utilize information presented
• Business owners who need to make sure that they are tracking the correct business numbers
• Bookkeepers or accounts clerks who want need a better grounding in accounting terminology and processes
• Professionals who need to use and understand financial reports

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