Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem!
This one-day workshop teaches participants to:
- The art of finance and financial management
- Key financial terms
- Their role in company finances
- Where to find the rules and regulations for their area and industry
- Various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
- How a chart of accounts is created
- Cash and accrual accounting
- Single and double entry bookkeeping
- Introduction to debits and credits
Lesson 1: Course Overview
You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.
Lesson 2: Getting the Facts Straight
The first session will go over basic financial terms. Then, participants will explore their role in company finances as well as important players in an organization’s finances. To wrap up the session, participants will receive some resources for learning about the governing organizations in their area.
Lesson 3: The Accounting Cycle
Next, participants will learn about the four phases of the accounting cycle. They will also learn about key underlying concepts, including cash vs. accrual methods of accounting.
Lesson 4: Keeping Score
This session will explain the chart of accounts and single vs. double entry accounting. Introduction to the accounting equation.
Lesson 5: The Key Reports
In this session, participants will take a close look at balance sheets and income statements. They will also review cash flow statements and statements of retained earnings. The session will conclude with a review activity.
Need to request this course on a Different Day?
LANTEC is very responsive to local client needs and unique or custom class demands. If you require a delivery date option for a class title on our schedule, please submit your specific request for immediate consideration. We can often accommodate countless additional courses NOT available on our public schedules, please inquire for personal assistance.