Accounting for Non-Accountants

Course Objectives:
1. Understand the basic principles and concepts of financial accounting.
2. Learn how to read and interpret financial statements.
3. Gain knowledge of key accounting terms and terminology.
4. Develop skills in analyzing financial data and making informed decisions.
5. Understand the role of accounting in business operations and decision-making.

Course Outline:
– Introduction to Accounting
• Overview of accounting principles and practices
• Importance of accounting in business
• Basic accounting terms and concepts

– The Accounting Equation and Financial Statements
• The accounting equation: Assets = Liabilities + Equity
• Overview of financial statements (balance sheet, income statement, cash flow statement)
• Understanding the components of each financial statement

– Recording Financial Transactions
• Double-entry accounting system
• Journal entries and posting to ledgers
• Accrual vs. cash basis accounting

– Analyzing Financial Statements
• Ratio analysis: liquidity, profitability, solvency, and efficiency ratios
• Interpreting financial statements for decision-making
• Common financial statement errors and red flags

– Budgeting and Forecasting
• Importance of budgeting in business planning
• Types of budgets: operating, capital, and cash budgets
• Forecasting techniques and methods

– Cost Accounting Basics
• Introduction to cost accounting principles
• Types of costs: direct, indirect, variable, and fixed costs
• Cost behavior and cost-volume-profit analysis

– Internal Controls and Fraud Prevention
• Importance of internal controls in accounting
• Common internal control measures and procedures
• Fraud detection and prevention techniques

– Special Topics in Accounting
• Overview of managerial accounting concepts
• Accounting for taxes: income tax, sales tax, etc.
• Accounting for non-profit organizations