Accounting for Non-Accountants

Day 1:

Introduction to Accounting for Non-Accountants 

• Overview of accounting and its importance in business

• Key accounting principles and concepts

• Understanding financial statements: balance sheet, income statement, and cash flow statement

• Analyzing and interpreting financial statements

• Practical exercises and case studies to reinforce learning

Day 2:

Recording Financial Transactions 

• The accounting cycle and its components

• Types of accounts and their classification

• Double-entry bookkeeping and debits/credits

• General ledger and chart of accounts

• Recording transactions through journal entries and posting to the general ledger

• Trial balance and adjusting entries

• Hands-on exercises and examples to practice recording transactions

Day 3:

Financial Statement Analysis

• Ratio analysis and its significance

• Liquidity, profitability, and solvency ratios

• Vertical and horizontal analysis of financial statements

• Interpreting financial ratios and trends

• Case studies and exercises to analyze financial statements

Day 4:

Cost Accounting and Budgeting 

• Introduction to cost accounting and its relevance

• Cost classifications: direct costs, indirect costs, fixed costs, variable costs

• Cost behavior and cost-volume-profit analysis

• Break-even analysis and decision-making

• Introduction to budgeting and its process

• Preparing budgets: operating budget, capital budget, cash budget

• Exercises and examples for cost accounting and budgeting

Day 5:

Communication and Collaboration with Accountants

• Effective communication with accounting professionals

• Understanding financial jargon and terminology

• Asking the right questions to gather financial information

• Interpreting financial reports and seeking clarifications

• Collaborating with accounting and finance teams

• Sharing financial information with non-financial colleagues

• Role-playing exercises and group discussions for effective communication and collaboration