Accounting for Non-Accountants

Course outlines

Module One:

Introduction to Accounting and Accounting Systems 

• Why Accounting is Important?
• The Basics of Financial Accounting
• The Double-entry Accounting Method
• Developing the Accounting System for Large-scale Application
• Recording Entries in the Accounting System – A Case Study
• Control Systems and Reconciliations
• Adjusting for Depreciation and Inventory
• Preparing the Income Statement and Balance Sheet

Module Two:

Preparing Accounting Statements  

• Types of Business Entity
• The Structure and Format of Accounting Statements
• Understanding Depreciation and How it is Calculated
• Adjusting for Amortization and Impairment
• Identifying and Valuing Inventory
• Accounting for Sales Taxes and Profit Taxes
• Recognizing Revenue
• Preparing the Cash Flow Statement
  

Module Three:
Financial Reporting – Applying the Standards  

• The Importance of Financial Reporting Standards
• The Financial Reports of Listed Public Companies
• Finding Useful Information in the Annual Financial Report
• What are Group Financial Reports?
• Preparing a Simple Group Balance Sheet
• Interpreting the Financial Statements using Common-size Analysis
• Interpreting the Financial Statements using Ratio Analysis
• Where to Find Published Analysis on Companies

Module Four:
Management Accounting – Data Analysis for Decision Making  

• The Purpose of Management Accounting
• Responsibility Accounting
• Collecting and Classifying Costs
• Preparing Product and Service Cost Summaries
• Absorption Costing vs. Activity-Based Costing
• Separating Fixed and Variable Costs
• Break-even Analysis and Applications

Module Five:
Preparing and Using Budgets – for Efficiency and Profitability  

• Budgets and Budgetary Control
• Developing the Annual Budgets
• The Benefits and Limitations of Budgets
• Preparing Functional Budgets
• Preparing a Cash Budget
• Alternative Budgeting Methods