Who can benefit?

• Finance and accounting employee

Course objective

• Recognize important financial accounting topics and how to report them on the financial statements.
• Properly account for assets, liabilities, equity, revenues and expenses.
• Utilize the annual report, management responsibilities for financial statements and auditors opinion.
• Determine the structure, presentation and disclosure of the financial statements.
• Interpret and report income and balance sheet accounts.

Course outline

• Financial Statements and Business Decisions

• Accounting Systems
• Four Key Financial Statements
• Relationship among the Financial Statements
• Management Uses of Financial Statements

• Reporting and Interpreting Sales Revenue, Receivables and Cash

• Accounting for Sales Revenues and Discounts
• Measuring and Reporting Receivables
• Cash and Cash Equivalents

• Reporting and Interpreting Cost of Goods Sold and Inventory

• Nature of Inventory and Cost of Goods Sold
• Inventory Costing Methods
• Inventory Systems

• Reporting and Interpreting Liabilities

• Liabilities Defined and Classified
• Contingent Liabilities

• Reporting and Interpreting Property, Plant and Equipment; Natural Resources and Intangibles

• Classifying Long-Lived Assets
• Measuring and Recording
• Accounting for Repair, Maintenance, and Additions
• Depreciating and Amortization
• Accounting for Disposal of Assets
• Reporting and Accounting for Intangibles

• Reporting and Interpreting Owners Equity

• Ownership of a Corporation
• Types of Capital Stock
• Accounting for Capital Stock
• Stock Splits and Dividends
• Treasury Shares

• Reporting and Interpreting Investments in Other Corporations
• Types of Investments
• Accounting for Investments
• Fair Value and Equity Methods