Fundamentals of Accounting and Finance

Service Description

Course Outline The course introduces participants to the fundamentals of accounting and finance. Key accounting aspects are discussed, such as the role of ethics and accounting principles. Participants will furthermore explore the process of analyzing business transactions and the preparation of elemental financial statements. Participants are also introduced to financial analysis, forecasting and budgeting. Course Objectives By the end of the course, participants will be able to: * Explain the purpose and importance of accounting * Explain generally accepted accounting principles and define and apply several of these principles * Analyze business transactions using the accounting equation * Identify and prepare basic financial statements and explain how they interrelate * Perform financial statement analysis using financial ratios * Design and use basic financial forecasting models in Excel * Identify and prepare the building blocks of a master budget Target Audience Managers, supervisors and staff from any function, entrepreneurs and anyone interested in accounting & finance. Key Topics The key topics covered in the course are: * The role of accounting in business * Fundamentals of accounting: ethics and accounting principles * Transaction analysis and the accounting equation * Inventoriable costs versus period expenses * Single-entry versus double-entry bookkeeping * The accounting equation * Preparing financial statements * Financial statement analysis using financial ratios * Use of financial statements and other information in forecasting * Financial forecasting using Microsoft Excel * Different approaches to the budgeting process * Master budget components * Steps in preparing budgets Examination * Final exam Certification * Certificate of Completion

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