The Basics of Accounting
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 ill-equipped 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.
Who should attend?
This live webinar is designed for
- business owners and managers
- bookkeepers and accountants.
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
Certification / Credits
- You will be able to define the major components of each of the four types of financial statements.
- You will be able to identify the elements of a financial report, including the four financial statements, the notes to the financial statements, and an independent report to the financial statements.
- You will be able to discuss the difference between the accounting methods and common accounting frameworks.
- You will be able to explain the accounting cycle and how to prepare basic accounting entries.
Contact this provider
Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...