Accounting Skills for New Supervisors
Details
- The art of finance and financial management
- Key financial terms
- Their role in company finances
- Where to find the rules and regulations for their area and industry
- Various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
- How a chart of accounts is created
- Cash and accrual accounting
- Single and double entry bookkeeping
- Debits and credits
- Identifying and analyzing important financial data
- Making financial decisions
- Reading annual reports
- Determining whether a company is financially high or low risk
- Different types of organizational financial plans
- What budgets are and how to prepare them
- What computer skills they need to make you a financial whiz
- Dealing with financial situations that impact the people that work for them
Outline
The first session will go over basic financial terms. Then, participants will explore their role in company finances as well as important players in an organization’s finances. To wrap up the session, participants will receive some resources for learning about the governing organizations in their area.
Next, participants will learn about the four phases of the accounting cycle. They will also learn about key underlying concepts, including cash vs. accrual methods of accounting.
In this session, participants will take a close look at balance sheets and income statements. They will also review cash flow statements and statements of retained earnings. The session will conclude with a review activity.
This session will explain the chart of accounts and single vs. double entry accounting.
Day Two will start with a review exercise and an introduction to some additional financial terms.
This session will de-mystify two terrifying accounting terms: debits and credits.
This session will give participants some sources for financial data as well as tips on weeding out useless information. We’ll also cover how to calculate common ratios, how to read an annual report, and some useful decision making tools.
In this session, participants will learn about some guidelines for identifying high and low risk companies. Then, they will practice these guidelines in a case study.
Next, participants will learn what a budget is, how their budget should fit into the big picture, and what the budgeting process should look like.
This session will give participants a basic checklist of computer skills required for success. We’ll also talk about how to choose an accounting package.
Dealing with finances isn’t all numbers. What if an employee’s expense report doesn’t look correct? Or what if you have to make cuts to someone’s pay? Participants will examine each situation in small groups, and then provide some tips on what to do.
Our focus is on the development of real skills and practical solutions that are easy to apply immediately following the training session. Our programs are high impact and interactive sessions that are devoted to getting participants to reach peak performance. Real skills are sustainable, hype is short-lived.
Our training programs have been meticulously developed with a strategic team that included professional content writers, research specialists, in-field executive professionals and certified human resource professionals. Our premium quality content ensures high impact results. We invite you to browse our complete inventory of training programs on our website.
Why is Training Critical?
People are essential to the growth and success of any business. The greatest asset that any company has is the abilities of its team. Leading organizations understand that effective and consistent training will ensure continuous success and growth.
Effective training is focused on enhancing the inherent skills of an individual. It provides solutions that will increase productivity, performance and even personal growth, such as: behaviours, communication skills, better business practices and increased motivation. ...