Accounting for Finance Professionals (Understanding Financial Statements)
Learn to build and analyze a set of historical financial statements
Accounting is the language of business and anyone working in a business environment should have a solid grasp of accounting concepts and financial statements. This course provides an interactive review of accounting principles from the perspective of a finance professional. Participants will have the opportunity to build a set of financial statements that incorporate simple and complex accounting concepts. Assignments, handouts and examples will be used throughout the course.
Review Accounting Concepts
- Discuss key accounting principles such as revenue recognition, the matching principle, double entry accounting and accrual accounting
- Learn to read the financial reports which are provided for investors
- Review a company’s key financial statements and understand how they relate to each other
Build Powerful Scenarios and Financial Statements
- Participants will create a set of financial statements that incorporate numerous accounting concepts, including:
- Revenue and costs – discuss issues related to recognition
- Depreciation – review various methodologies to allocate the cost of a fixed asset over its useful life
- EBITDA – a popular measure of a company’s financial performance
- Income tax – discuss common timing differences between accounting and government tax calculations
- Inventory – review different methods of inventory accounting such as FIFO, LIFO and Average Cost
- Fixed assets
- Subsidiary accounting – accounting treatment at various ownership levels
- Debt & equity – the key concepts and terms associated with various forms of capital
- Understand the links between each of the financial statements
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