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Accounting Skills for New Supervisors

Mainstream Corporate Training
Training overview
Corporate / Group Training
Self-paced Online, Virtual Classroom, On-site
2 days

Start dates
Canada
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Online
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Course description

Accounting Skills for New Supervisors

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!

Learning Objectives

Over the course of this two-day workshop, participants will learn:

  • Describe the art of finance and financial management
  • Explain key financial terms
  • Determine your role in company finances
  • Find the rules and regulations for your area and industry
  • Discuss various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
  • Explain how a chart of accounts is created
  • Tell the difference between cash and accrual accounting
  • Explain single-entry and double-entry bookkeeping
  • Differentiate between debits and credits
  • Identify and analyze important financial data
  • Make financial decisions
  • Read annual reports
  • Determine whether a company is financially high or low risk
  • Recognize different types of organizational financial plans
  • Explain what budgets are and how to prepare them
  • Recognize what computer skills you need to make you a financial whiz
  • Deal with financial situations that impact the people that work for you

COVID-19 Update

In light of COVID-19, this provider is now delivering some or all of their courses online. Contact them for more information!

Training content

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.

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.

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.

Keeping Score

This session will explain the chart of accounts and single vs. double entry accounting.

A Review of Financial Terms

Day Two will start with a review exercise and an introduction to some additional financial terms.

Understanding Debits and Credits

This session will de-mystify two terrifying accounting terms: debits and credits.

Your Financial Analysis Toolbox

This session will give participants some sources for financial data as well as tips on weeding out useless information. We’ll also cover how to calculate common ratios, how to read an annual report, and some useful decision making tools.

Identifying High and Low Risk Companies

In this session, participants will learn about some guidelines for identifying high and low risk companies. Then, they will practice these guidelines in a case study.

The Basics of Budgeting

Next, participants will learn what a budget is, how their budget should fit into the big picture, and what the budgeting process should look like.

Working Smarter

This session will give participants a basic checklist of computer skills required for success. We’ll also talk about how to choose an accounting package.

People and Numbers

Dealing with finances isn’t all numbers. What if an employee’s expense report doesn’t look correct? Or what if you have to make cuts to someone’s pay? Participants will examine each situation in small groups, and then provide some tips on what to do.

Course delivery details

This course can be offered in the following formats:

  • On-site
  • Online
  • Webinar

Why choose Mainstream Corporate Training?

Serving Over 40 Business Verticals, across North America

98.8% Client Satisfaction, 99% citing they would refer our programs to others

ROI realized by clients as early as the first 3 months post training

About Mainstream Corporate Training

Mainstream Corporate Training -Engaging Interactive Professional Development

Mainstream is committed to providing quality training that is essential to successful professional and personal growth; our programs help learners maintain a competitive advantage through insightful and effective training topics. Information continues to change and develop our lives, therefore, our mission...


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Mainstream Corporate Training

1157 Ouellette Avenue
N9A4K1 Windsor

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mainstreamcorporatetraining.com

Reviews

Average rating 4

Based on 1 reviews.

Faye H.
What a great course! Like most, I used to find many of the elements of Accounting really difficult to understand and implement properly. Things like figuring out cash flow and budgets used to make me cringe! But after taking this course, I feel confident in my abilities. The course was laid out in easy to understand sections and the section on f...
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