Accounting for the Non-Finance Professional
Funding available for this course
In today’s business environment, accounting and finance functions are more than dealing with recording transactions and financing. It is crucial for all Executives, Managers, Department heads or entrepreneurs to grasp and apply fundamental financial management knowledge.
This workshop is to help those professionals who have little or no knowledge of finance and accounting to have better understanding of business or organisational finance matter and financial awareness in order to agree and manage budgets effectively and appreciate core finance principles.
At the end of this workshop, participant will be able to:-
- Understand accounting and finance terms and concepts
- Explain their impact on organisational finances and interpret key facts
- Understand financial terms and confidently discuss issues that affect company finance
- Interpret the three key financial statements – Profit & Loss, Balance Sheets and Cash Flow
- Plan, Implement and Monitor a Budget
- What is an Audit?
- Compliance Requirements in Singapore
- Non-finance Managers
- Human Resource
- Marketing and Sales
- GMs, Heads of department
- Project Managers
- Those taking on senior management roles
- Entrepreneurs and business heads
Interactive and practical approach to learning based on a case study and a group discussion.
An Introduction to Finance Basics
- What is accounting
- The difference between Finance and Accounting
- Understanding Financial Terms
Key Financial Statements
- Structure & Elements of Financial Statements
- Balance Sheet
- Relationship between the Balance Sheet & Income Statements
- Trial Balance
- Statement of Changes in Equity
The Profit & Loss Statement (Income Statement)
- Company’s Performance & Achievements
- Profit & Loss elements
- What profit & loss tells you?
The Balance Sheet
- Balance Sheet Overview
- Balance Sheet Terms
- Assets and Liabilities
- Fixed vs Current Assets
- Liabilities and Equity
- Company’s Financial Health
- What are the Inflows and outflows?
- The critical difference: Cash vs. profit
The Cash Flow Statement
- Direct Method & Indirect Method of Presenting Cash Flow
- The Cash Budget
- Sources & Uses of Cash
Budgeting - Plan, Implement and Monitor
- Know the basics of budgeting
- Why is it important to Budget?
- Planning a Budget
- Types of Budgeting
- Monitoring Budget