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Accounting for non-accountants

This course is for those who want to be able to interpret financial reports. It takes you through the three basic phases of financial accounting – the bookkeeping process, i.e. the recording of transactions, preparation and presentation and analysis of financial reports, and a case study on the development of a master budget. Information in this course is essential for business owners.

Entry Requirements

None

Student Instructions

Please bring a notebook and pen.

Topics

The following topics are covered:

• the bookkeeping process:

source documents
journals
posting to accounts in the ledger
balancing accounts in the ledger
subsidiary ledgers
the trial balance
The course does not cover the actual recording of transactions in these records as this is the focus of a bookkeeping course.

• The preparation of financial reports:

The profit and loss statement
The balance sheet
The cash flow statement
The following aspects are included:
The theory and purpose behind the reports
The jargon used
The significance of the groupings of information used in the reports
The static information provided by the report
The dynamic information provided through financial analysis

• The preparation of a master budget which includes:

A revenue budget
An expenses budget
A capital budget
A cash flow budget
A budgeted profit and loss statement
A budgeted balance sheet

Career Prospects

The course will assist anyone who is working in a financial environment but who has not received any formal financial training or education.

Delivery Style

The course is an information course and is delivered on a lecture/class interaction basis.
Case studies are used for:
The bookkeeping process
The preparation and analysis of financial reports
The preparation of the master budget.

Outcomes

Students who are working in a financial environment will understand:
How financial transactions are recorded
The information contained in a profit and loss statement, balance sheet and cash flow statement
How to analyse these statements to obtain further information
How to compile a master budget.