Accounting for Non-Accountants
Program Description: Accounting is the language of business and many professionals are not bilingual. In today’s rapidly changing business climate those who possess an understanding of the accounting concepts and allocations will have a greater financial impact on their organization. This workshop will emphasize accounting concepts that underlie the four financial statements and discuss financial concepts of day-to-day management decisions
Program Abstract: This is an all day workshop designed at discussing the key points in financial and cost accounting. The first half of the day is spent focusing on financial accounting. Accounting theory and principles will be discussed to establish a solid foundation. Components of the four financial statements will be outlined, discussed, dissected and analyzed. The second half of the day will focus on cost accounting. A through examination about cost behavior and the allocation of overhead to products will establish a solid foundation when discussing of margins and pricing. A discussion of the budgeting process, time-value of money, and capital budgeting will wrap up the session.
Learning Outcomes:
- Describe why accounting in the language of business
- Define Generally Accepted Accounting Principles (GAAP) and the conceptual framework
- Discuss the Convergence project underway with FASB and IASB
- Differentiate between the Balance Sheet, Income Statement, Statement of Changes in Owner’s Equity, and Statement of Cash Flows
- Demonstrate the concept of Time Value of Money
- Calculate a financial statement analysis
- Describe the various cost behaviors
- Discuss how overhead is allocated
- Illustrate the concepts of Cost-Volume-Profit Analysis to various management decisions
- Summarize the importance of budgeting
- Illustrate the importance of a differential analysis in decision making.
- Explain how to calculate a Capital Budget Analysis.
Program Delivery: This workshop is offered as a full day session.
To book one of Pete Margaritis’ workshops
Contact Megan Eufinger at The Ohio Society of CPAs 1-800-686-2727 X372 or e-mail MEufinger@ohio-cpa.com>