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Accounting Essentials

In this course, students will learn about accounting fundamentals.

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Learning Objectives

Upon successful completion of this course, students will understand cash and accrual accounting, basic recordkeeping, ledger and journal entries and financial statement preparation.

 

Course Details

Course Outline

1 - Getting the 'Right ' Numbers
  • Qualitative vs. Quantitative Decision-Making
  • Standards
  • Effective and Efficient Decisions
  • Constraints
  • 2 - Review of the Financial Statements
  • The Balance Sheet and Income Statement
  • Statements of Cash Flow
  • What the Financial Statements Do Not Tell You
  • 3 - Making Money
  • Maximizing Profit or Minimizing Cost
  • Thinking in Units
  • Defining Cost
  • 4 - Identifying Costs and Their Behaviors
  • Fixed, Variable, and Mixed Costs
  • Relevant Range
  • Cost Per Unit
  • Cost Categories on the Income Statement
  • Discerning Variable Costs
  • Discerning Mixed Costs
  • 5 - Controlling Costs
  • Contribution Margin on the Income Statement
  • Activity-Based Costing
  • Non-Value-Added Activity
  • 6 - Am I Breaking Even?
  • The Cost-Volume-Profit Graph
  • The Contribution Margin Approach to Break-Even
  • Calculating 'What If' Profit
  • Margin of Safety
  • 7 - Operating Leverage
  • Defining Operating Leverage
  • Operating Leverage and the Bottom Line
  • 8 - Influences on Pricing
  • Pricing in Line with the Competition
  • Trade-Offs Between Price and Demand
  • Elasticity of Demand Illustrated
  • Market and Cost Influences on Pricing
  • Qualitative Factors in Relation to Price
  • 9 - Making the Numbers Work for You
  • Responsible Decision-Making
  • Quality Mangement
  • Actual course outline may vary depending on offering center. Contact your sales representative for more information.

    Who is it For?

    Target Audience

    This course is intended for non-financial individuals who want to gain basic knowledge of accounting fundamentals.

    Accounting Essentials

    $395
    Course Length : 1 Day
     

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