Training Course
Syllabus:
Business people today cannot afford to ignore the principles of finance and accounting and expect to fulfill their daily responsibilities effectively. This three-day program, developed over a period of years, will cover key financial and accounting subject areas and issues that all department heads, managers and business leaders need to know. The seminar will contain extensive case studies and real world examples to reinforce the concepts presented.
In a simple, straightforward manner, the session will provide participants with a solid command of financial and accounting concepts and principles that affect their daily activities. Discussions will address the key elements of financial reports, balance sheets and income and cash flow statements. Participants will also learn how financial statements can be used to evaluate performance and risk, as well as the strengths and weaknesses of a business or investment.
In addition to regular course materials, each participant will receive a reference guide that explains the basic concepts of finance and accounting and provides a valuable glossary of terms commonly encountered by the participants.
Course Outline
1. Seminar Overview and Objectives
- How to understand and interpret the information presented on financial
statements
- How to use financial statements to evaluate the strength/weakness of your
company
- How to better manage the financial aspects of your own business/department
2. Accounting Concepts
- The Basic Financial Statements and The Accounting Process Flow
a. Discussion of the elementary components of and relationship between a balance sheet, statement of operations and cash flow statement.
b. Preparation of a set of personal financial statements as a reference point for the discussion of subsequent accounting topic.
- Accounting Concepts and Principles
a. Discussion of the relationship of assets, liabilities and equity
b. How to record accounting transactions using the accounting debit and credit convention
c. Discussion of the basic elements of generally accepted accounting principles
d. Use of actual client financial statements as a reference point
3. The Basic Financial Statements In Depth
a. What makes up a balance sheet and what does it show
- Assets
- Liabilities
- Equity
b. What goes on the statement of operations and what does it tell us
- Revenue recognition
- Cost of goods sold
- Selling and administrative expenses
- Fixed versus variable costs
c. The cash flow statement, the true picture of how well a company is performing
d. The buried treasures hidden in financial statement footnotes
e. Class exercise to prepare a set of financial statements for a new company
4. Asset Valuation
a. Impact of inventory valuation methods
b. What if we don't collect all those receivables
c. What is depreciation, how is it measured and how it measures fixed asset values
d. Class exercise to determine asset values under different scenarios
5. Debt and Equity Concepts and Instruments
a. Identify various kinds of debt and equity instruments
b. Equity–common stock, preferred stock, treasury stock, dividends
c. Debt—bonds, convertibles, coupons
d. Identify how to value and report each kind of instrument
e. Identify advantages/disadvantages of each
6. Course Wrap Up
a. Final Exercise
b. Course Summary
c. Course Evaluation
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