Principles of Accounting and Finance for Non-financial Professionals

Overview/Description
Finance and accounting are at the heart of every business. These functions deal with recording, summarizing, and analyzing financial information across all departments for decision making, directing, and controlling their resources and activities. Every activity or non-activity in an organization has financial implications and financial acumen is expected at every organizational level. Professionals and functional managers in every department and functional area should have a certain amount of comfort and familiarity with the basic accounting and financial concepts, processes and practices so that they can use it to better manage and control their activities and make decisions that support organization's larger goals. This course aims at familiarizing non-financial professionals with basic accounting and financial concepts. You are introduced to key finance and accounting terms and concepts such as the accounting equation, accrual-based accounting, financial risks and returns, and basic accounting principles. This course also takes you through the steps in the accounting process and helps you recognize how business transactions affect various financial statements and the bottom-line of your business.

Target Audience
Non-financial professionals who wish to gain understanding or refresh their knowledge of finance and accounting

Prerequisites
Basic knowledge of accounting and finance

Expected Duration (hours)
1.0

Lesson Objectives

Principles of Accounting and Finance for Non-financial Professionals

recall the basic accounting equation

identify the key differences between cash- and accrual-based accounting

match phases of the accounting process with actions that are performed at each phase

match each basic accounting principle to its description

recognize how a business transaction affects a financial statement in given examples

identify four types of financial risks