Basic Accounting Concepts for Non-financial Professionals


Overview/Description
Target Audience
Prerequisites
Expected Duration
Lesson Objectives
Course Number
Expertise Level



Overview/Description
Finance and accounting are at the heart of every business. Even if your role isn't directly related to finance, your activities may still have financial implications. This course explains the basics of finance for non-finance professionals, and covers key accounting and finance essentials and concepts: the basic accounting equation, accrual-based accounting, and basic accounting principles. It explores business finance, including how business transactions affect financial statements and the bottom line. You'll walk through the four-step accounting process, and you'll learn the fundamental principles of cash flow management and the four types of financial risk.

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

Prerequisites
None

Expected Duration (hours)
0.5

Lesson Objectives

Basic Accounting Concepts for Non-financial Professionals

  • recall the basic accounting equation
  • recognize the characteristics of cash- and accrual-based accounting
  • match financial activities to the appropriate phase of the accounting process
  • match each basic accounting principle to its description
  • classify examples of cash flow as operating, investing, or financing activities
  • recognize how to calculate the potential cash gain by reducing Economic Float
  • recognize the effect an increase or decrease in working capital has on cash flow
  • match each type of financial risk to a description
  • Course Number:
    fin_08_a01_bs_enus

    Expertise Level
    Everyone