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Welcome to Finance Train’s online course on Accounting Skills for Managers. You are about to learn one of the most important skills that you need to help you manage your business successfully.
As a business owner or manager, you need to understand the basics of finance and accounting. Even though you will not be directly involved in day to day accounting and record keeping, this information will help you understand your business better and help achieve the financial goals you have set for it. You will know where the money is coming from, and where it is going, which will help you make more efficient decisions. It will also reduce your dependency on others to make sense of the crucial financial information that you always need to keep a track of. Finally, you will become more confident while dealing with your accounting personnel and reduce the chances of any wastage of money, lacunae in processes, or accounting fraud within your business.
The objective of this course is to teach you how to speak the language of accounting. It will not train you to become an accountant, but it will provide you with enough knowledge in understanding how accounting is done within a business. This will complement your core business skills and other talents.
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|Section 1: Introduction|
Introduction video about Finance Train’s online course on Accounting Skills for Managers.
|Section 2: Accounting Concepts|
In this lecture, you will learn about the important concepts and principles of accounting and how the accounting system works.
|Lecture 3||2 pages|
|Reference Case Study used throughout the course for explaining various accounting principles.|
In this lecture, we go in depth into the business transactions and learn about how they affect different accounts, and how to apply the rules of debit and credit in different situations.
|Lecture 6||1 page|
|This cheat sheet provides a list of comon transactions in a business along with their accounting treatment.|
The efficiency of the accounting process starts with accurate and well-organized data; therefore a clear understanding of procedures is important. In this lecture, we will learn about the books of accounts maintained by a business and how transactions are recorded in these books.
|Lecture 8||6 pages|
|The case study with complete solution containing the completed books of accounts of Web Design Inc.|
|Section 3: Financial Statements|
|Lecture 9||17 pages|
|This lecture provides an overview of the key financial statements prepared by a business, namely, Balance Sheet, Income Statement, Statement of Cash Flow, and the Statement of Owner's Equity.|
|Lecture 10||38.2 kB|
An excel spreadsheet providing the Financial Statements of a fictitious company used for explaining the financial statements.
Finance Train provides financial education and career resources for anyone who seeks to learn about finance. The objective of Finance Train is to provide free as well as affordable premium finance training for everyone. Our collection of tutorials can help deepen anyone’s understanding and grasp of financial topics. In addition, we also provide tools (calculators, templates) to enable a practical application of concepts.