Accounting for Non-Accountants Training Course

Why select this training course?

Accounting is critical to the success of any firm because it facilitates the gathering and analysis of quantitative financial data that investors and managers can utilize in making informed business choices. Accounting reveals precisely what your company has been up to in terms of money and helps you stay organized. Accounting for the Non-Accountants Training Course from Rcademy will ensure that professionals from a non-accounting background can successfully support their businesses and organization through advanced accounting knowledge. The course will offer practical guidelines for making informed decisions by understanding statements, budgets, and costs. It will provide the learners with up-to-date content that is relevant and can be used in the field, from the most basic principles to more advanced and technical knowledge.

What is accounting for non-accountants?

It is a practice that intends to give non-accountants technical knowledge and skills to perform accounting duties without fully being accountants. The training will focus on the main accounting concepts and establishing the correct accounting process in your organization and business. In addition, the training ensures that the participants can understand financial reports, accounting books, balance sheets, and other critical financial statements necessary for making informed decisions.

Is accounting easy to learn?

Taking up accounting as a study subject is a serious endeavor and may be challenging. Rcademy, however, has made sure that the material in this training course is easy to understand and instructs you in the fundamentals of accounting. It has an intense curriculum but is accompanied by improved methods of teaching that will ensure that learners emerge as competent accountants after finishing.

This Rcademy Accounting for Non-Accountants Training Course is well designed to ensure participants understand the main principles of accounting, master the accounting structure, and obtain meaningful information from accounting statements. After taking this course, learners will be competent in analyzing cash flow statements, preparing income statements, using debits and credits, accounting for business transactions, interpreting balance sheets, and applying international financial reporting standards. The course is packed with practical examples, case studies, and illustrations to ensure that you are job market-ready when you are through.

Who should attend?

Rcademy’s Accounting for Non-Accountants Training Course is ideal for professionals from various backgrounds:

• Departmental heads, Managers, and Team Leaders
• Financial officers and Accountants
• Procurement and logistics staff
• Administrators
• Divisional controllers
• Production and production control staff
• Emerging Entrepreneurs
• Project and Product Managers
• Professional from a non-financial background

What are the course objectives?

The main objectives of this Training Course from Rcademy are to enable participants to:

• Develop an understanding of the main ideas and principles of accounting
• Identify the significant rules of accounting under international standards
• Use financial information to make improved and better decisions
• Practice financial statements adjustments at the end of the year
• Gain a deep understanding of the income statement and how to analyze them correctly
• Demonstrate knowledge of the basic accounting equations and systems
• Interpret financial statements, including the importance of reporting cash flows
• Collect and analyze data to make strategic decisions
• Understand and differentiate prepayments, accruals, liabilities, intangible and tangible assets, and equity
• Understand accounting cycle

How will the course be presented?

Rcademy uses unique and well-tested methods to deliver the content of this course. The facilitators of this training course are experienced in teaching their domain areas. Therefore, they will be using their experiences to train you on relevant industrial skills that can be used to solve real-world problems. Some methods of delivering this training course include:

• Presentations and Management Games
• Group Discussions
• Assignments and interactive exercises
• Case studies, etc.

This Rcademy program will use highly skilled and experienced professionals to deliver the learning to the attendees.

What are the topics covered?

Module 1: Double-entry Accounting

• The chart of accounts
• The accounting equation
• The trial balance
• Assets as a liability
• The general ledger
• Traditional double-entry bookkeeping
• Modern bookkeeping with automation

Module 2: Preparing Accounting Statements

• Accounting for understanding sales
• The importance of understanding ratio analysis in accounting
• Adjusting for amortization and impairment
• Recognizing revenue
• Understanding depreciation and how to calculate it
• Identifying and valuing inventory
• Preparing the cash flow statement

Module 3: Introduction to Financial Statements and Accounting

• Unique methods of collecting, presenting, and analyzing financial data
• Users of accounting information
• Defining Accounting and what it entails
• The Corporation and what it means

Module 4: Applying International Standards in Financial Reporting

• Where to find the published analysis of companies
• What are group financial reports
• Reading Annual reports
• Preparing a simple group balance sheet
• The importance of financial reporting standards
• Tracing and finding helpful information in the annual financial report

Module 5: Understanding the Income Statement

• Gross profit and its meaning
• Defining expenditure and its recognition
• What is operating profit?
• Defining the income statement and what information is contained in it
• Net profit
• Revenue and its sources
• The income statement illustrations

Module 6: Data Analysis for Decision-Making in Management Accounting

• Collecting and classifying different costs
• Separating fixed and variable costs
• The purpose of management accounting
• Break-even analysis and applications
• Preparing product and service cost summaries
• Responsibilities of accounting
• Absorption costing vs activity-based costing

Module 7: What Accounting Entails?

• Adjusting for depreciation and inventory
• Developing an efficient accounting process
• The basics of financial accounting
• Preparing and understanding balance statements
• Recording entries in the accounting system
• What is the importance of accounting?
• The double-entry accounting method
• Control systems and reconciliations

Module 8: Accounting Statements

• Cash flow statement
  – Investing activities
  – Classification of cash flow
  – Defining the statement of cash flows
• Adjusting financial statements
  – Bad debts and accounting for it
  – The accruals concepts
  – Depreciation
  Provisions for contingencies
• Accruals and prepayments
  – Balance sheets
  – Equity
  – Assets and their components
  – The current vs non-current liabilities and assets
  – Defining the balance sheets
  – illustration of the balance sheet
  – Liabilities
• Net equity
  – Definition of treasury stock
  – Dividends differentiation from expenses
  – Retaining earnings as cash
  – Defining capital stock
  – Cash dividends, stock split, and stock dividends