Duration 5 days – 35 hrs
Overview
The “Fundamentals of Finance and Accounting for Non-Financial Managers” training course is designed to equip non-financial managers with a solid understanding of financial principles, terminology, and the critical skills needed to interpret and utilize financial data effectively. This course aims to enhance the participant’s ability to make informed business decisions based on financial insights and improve their ability to communicate with finance professionals.
Objectives
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- Understand the basic concepts and principles of finance and accounting.
- Interpret and analyze financial statements and reports.
- Develop budgeting and forecasting skills.
- Gain insights into financial decision-making and its impact on business performance.
- Communicate more effectively with finance professionals.
Audience
- Non-financial managers and professionals
- Department heads and team leaders
- Small business owners and entrepreneurs
- Anyone interested in gaining a better understanding of finance and accounting
Pre-requisites
- Basic proficiency in Microsoft Excel
- Familiarity with general business operations
- Willingness to engage in financial discussions and activities
Course Content
Day 1: Introduction to Accounting and Bookkeeping
Module 1: Overview of Accounting
- Definition and importance of accounting
- Key accounting principles and concepts
- The accounting equation: Assets = Liabilities + Equity
Module 2: Financial Statements
- Introduction to financial statements
- Understanding the balance sheet
- Analyzing the income statement
- Exploring the cash flow statement
Module 3: Basic Bookkeeping
- The role of bookkeeping in accounting
- Recording transactions: Debits and credits
- Maintaining a general ledger
- Introduction to trial balance
Day 2: Deep Dive into Financial Statements and Transactions
Module 4: Financial Statement Preparation
- Steps to prepare financial statements
- Adjusting entries and closing entries
- Preparing a post-closing trial balance
Module 5: Financial Statement Analysis
- Ratio analysis
- Trend analysis
- Interpreting financial performance and position
Module 6: Accounting for Business Transactions
- Revenue and expense recognition
- Accounting for assets and liabilities
- Depreciation and amortization
- Inventory accounting
Day 3: Practical Applications and Decision-Making
Module 7: Using Accounting Software
- Introduction to popular accounting software
- Practical exercises in using accounting software
- Benefits and limitations of accounting software
Module 8: Budgeting and Forecasting
- Importance of budgeting in business
- Preparing a budget
- Forecasting techniques
- Variance analysis
Module 9: Decision-Making Using Financial Data
- Cost analysis and control
- Break-even analysis
- Making strategic business decisions based on financial data
