Financial Fundamentals For Non-Financial People: The ABCs Of Finance

LEARNING OUTCOMES:

  • Understand the basic principles of finance, including accounting, budgeting, and financial analysis.
  • Learn how to read and interpret financial statements, such as balance sheets, income statements, and cash flow statements.
  • Understand the basic financial and accounting terminology.
  • Identify the differences between the cash and accrual accounting methods.
  • Keep track of your business by becoming familiar with accounts payable and accounts receivable.
  • Use a journal and general ledger to document business financials.
  • Utilize the balance sheet.
  • Identify different types of financial statements.
  • Uncover the reasons for and actually create a budget.
  • Be familiar with internal and external auditing.

 

COURSE OVERVIEW & CONTENT:

“You don’t have to be a finance expert to be financially aware.”

Financial awareness is the understanding of various financial concepts, including financial statements, payroll, budgeting, and Auditing. It is an essential skill that everyone should possess, regardless of their profession or financial situation. Financial awareness helps individuals make informed financial decisions and avoid financial pitfalls.

Attending our Financial Fundamentals for Non-Financial People workshop is an excellent way for non-financial professionals to gain financial knowledge and awareness and provide individuals with the knowledge and skills needed to make informed financial decisions, manage finances effectively, and reduce financial stress.

Basic Terminology (I)

  • Balance Sheet
  • Assets
  • Liabilities
  • Equity
  • Income Statement
  • Revenue
  • Cost of Goods Sold
  • Expenses
  • Accounting Period

Basic Terminology (II)

  • Accounts Receivable
  • Accounts Payable
  • Depreciation
  • General Ledger
  • Interest
  • Inventory
  • Journals
  • Payroll
  • Trial Balance

Accounting Methods

  • Cash Method
  • Accrual Method
  • Differences between Cash and Accrual
  • Review Questions

Keeping Track of Your Business

  • Accounts Payable
  • Accounts Receivable
  • The Journal
  • The General Ledger
  • Cash Management

Understanding the Balance Sheet

  • The Accounting Equation
  • Double-Entry Accounting
  • Types of Assets
  • Types of Liabilities
  • Equity

Other Financial Statements

  • Income Statement
  • Cash Flow Statement
  • Capital Statement
  • Budget vs. Actual

Payroll Accounting / Terminology

  • Gross Wages
  • Net Wages
  • Salary Deferrals
  • Employee Payroll
  • Employee Benefits
  • Tracking Accrued Leave

End of Period Procedures

  • Depreciating Your Assets
  • Reconciling Cash
  • Reconciling Investments
  • Working with the Trial Balance
  • Bad Debt
  • Posting Adjustments and Corrections

Financial Planning, Budgeting and Control

  • Reasons for Budgeting
  • Creating a Budget
  • Comparing Budget to Actual Expenses

Auditing

  • What is an Audit?
  • When and Why Would You Audit?
  • Internal
  • External

 

COURSE DURATION: THREE DAYS

Course Price:

$2,300.00