Description
Build a good foundation of the accounting process, financial statements, and other finance basics.Understanding the accounting process and being able to read financial statements are crucial to effectively managing a company. Without a good grasp of a business’s financial health, business leaders are illequipped to anticipate and assess the challenges opportunities they face. By learning how to correctly comprehend financial information, business leaders will not only be able to effectively plan for the future but also understand the effects of past events. This material will help give individuals a good foundation of the accounting process, financial statements, and other finance basics that will prepare them to make better decisions and effectively run their business.
Date: 2021-04-29 Start Time: End Time:
Learning Objectives
Introduction to the Accounting Process
• Accounting Cycle
• Accounting Entries • Understanding Debits and Credits
• Introduction to the Four Types of Financial Statements
How to Read Financial Statements
• Balance Sheet
• Income Statement
• Statement of Cash Flows
• Statement of Comprehensive Income
Other Elements of Financial Reports
• Notes to Financial Statements
• Independent Reports to Financial Statements
Types of Accounting Methods
• Accounting Methods: Accrual vs. Cash vs. Hybrid
• Accounting Frameworks: Generally Accepted Accounting Principles (GAAP) vs. Tax Basis
• Other Accounting Frameworks
Looking to the Future • How to Develop the Skills Learned Today
• Analyzing Financial Statements
• Developing a Financial Strategy
AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Mary Davis, CPA-BGBC Partners, LLP
