Introduction:

Welcome to the Accounting for Non-Accountants Training Program! This program is designed to provide participants with a comprehensive understanding of basic accounting principles and concepts. Whether you're a business owner, manager, or professional from a non-accounting background, this training program will equip you with the knowledge and skills necessary to navigate financial statements, interpret financial data, and make informed financial decisions. By the end of this program, you will gain confidence in discussing financial matters and communicating effectively with accountants and financial professionals.

Objectives:

By the end of this training program, participants will:

• Understand the fundamentals of accounting, including key terms, concepts, and principles.

• Interpret and analyze financial statements, such as the balance sheet, income statement, and cash flow statement.

• Apply basic accounting techniques, such as journal entries and ledger maintenance.

• Learn how to identify and track financial transactions accurately.

• Gain the skills to evaluate the financial health and performance of an organization.

• Enhance their ability to communicate and collaborate effectively with accounting and finance teams.

Target Audience:

This training program is ideal for:

• Managers and Supervisors: Non-accounting professionals responsible for budgeting, financial planning, and decision-making.

• Small Business Owners and Entrepreneurs: Individuals who want to understand and manage their financial records effectively.

• Professionals in Non-Financial Roles: Individuals from marketing, operations, human resources, or other departments who need to comprehend financial information.

• Project Managers: Professionals seeking to understand the financial implications and impacts of their projects.

• Start-up Founders: Entrepreneurs looking to develop a solid foundation in accounting principles for their business ventures.

• Anyone interested in gaining a practical understanding of accounting principles and financial statements.

Outlines:

Day 1:

Introduction to Accounting for Non-Accountants 

• Overview of accounting and its importance in business

• Key accounting principles and concepts

• Understanding financial statements: balance sheet, income statement, and cash flow statement

• Analyzing and interpreting financial statements

• Practical exercises and case studies to reinforce learning

Day 2:

Recording Financial Transactions 

• The accounting cycle and its components

• Types of accounts and their classification

• Double-entry bookkeeping and debits/credits

• General ledger and chart of accounts

• Recording transactions through journal entries and posting to the general ledger

• Trial balance and adjusting entries

• Hands-on exercises and examples to practice recording transactions

Day 3:

Financial Statement Analysis

• Ratio analysis and its significance

• Liquidity, profitability, and solvency ratios

• Vertical and horizontal analysis of financial statements

• Interpreting financial ratios and trends

• Case studies and exercises to analyze financial statements

Day 4:

Cost Accounting and Budgeting 

• Introduction to cost accounting and its relevance

• Cost classifications: direct costs, indirect costs, fixed costs, variable costs

• Cost behavior and cost-volume-profit analysis

• Break-even analysis and decision-making

• Introduction to budgeting and its process

• Preparing budgets: operating budget, capital budget, cash budget

• Exercises and examples for cost accounting and budgeting

Day 5:

Communication and Collaboration with Accountants

• Effective communication with accounting professionals

• Understanding financial jargon and terminology

• Asking the right questions to gather financial information

• Interpreting financial reports and seeking clarifications

• Collaborating with accounting and finance teams

• Sharing financial information with non-financial colleagues

• Role-playing exercises and group discussions for effective communication and collaboration