Accounting for Non-Accountants
Course Overview
Recording transactions is the fundamental process allowing companies to make enhanced decisions and for management to effectively achieve results. Professionals need to understand the two most important pillars of Accounting; Recording Transactions and Reporting Results. Your takeaways are clear, structured, and practical. This is a hands-on course allowing you to learn by doing.
Key Takeaways
Course Outline
• Introducing accounting and financial statements
o Definition of accounting
o Users of accounting information
o Basic financial statements
• The corporation defined
• Presentation of accounting information by different business entities
• International financial reporting standards (IFRS)
o Introduction to IFRS
o Main differences between IFRS and US Generally Accepted Accounting Principles (GAAP)
• Double-entry accounting
• The accounting equation
• Traditional double-entry bookkeeping
• Your asset is his liability
• The chart of accounts
• The general journal
• The general ledger
• The trial balance
• Modern bookkeeping: automating transactions
• Income statements
o Defining the income statement
o Defining revenue and its recognition
o Defining expenditures and their classifications
o Calculating profit
o Gross profit
o Operating profit
o Net profit
• Net equity
• What is capital stock?
• Dividends are not an expense
• Cash dividends, stock dividends, and stock split
• Definition of treasury stock
• Retained earnings: not the same as cash
• The balance sheet and its components
o Defining the balance sheet
o Assets
o Liabilities
o Equity
o Current versus non-current assets and liabilities
• The balance sheet illustrated
• Cash flow statement
o Defining the statement of cash flows
o Cash and cash equivalents
o Classification of cash flows
o Operating activities
o Investing activities
o Financing activities
• The cash flow statement illustrated
• Adjustments to financial statements
o The accrual concepts
o Accruals and prepayments
o Depreciation
o Bad debts
o Provisions for contingencies
Who Should Attend?
Managers, supervisors and staff from any function including the accounting department who need to improve understanding and application and techniques of the language of numbers.
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- Review:IAMM Internal Audit Maturity ModelIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal KutbiCountry Learning & Development Manager at IKEA Saudi Arabia
- Review:Certified Professional in Quality and Patient SafetyDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. AlsahaanDir L&D, Talent Management at Mobily, Etihad Etisalat Company
- Review:Certified Professional in Quality and Patient SafetySince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad AlrajihVP, Business Winning at BAE Systems Saudi Development & Training
- Review:Certified Professional in Quality and Patient SafetyWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-SubaieSr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
