Accounting Skills for New supervisors
No prerequisites are required for this course.
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 business, particularly as a manager. This course will help you get started in the accounting world.
In this course, you will learn the basics of accounting, including financial terms, generally accepted accounting principles, the accounting cycle, key financial reports, financial analysis tools, and budgeting.
After you complete this course, you will be able to:
- 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 a 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.
- After completing this course you will be able to print your certificate of completion which may allow you to claim against your professional development activities. Please contact your relevant professional body.