Basic accounting concepts for non-financiers

Overview

Finance and accounting are at the heart of every business. Even if your role is not directly related to funding, your activities may still have financial implications. This course explains the basics of finance for non-financial professionals and covers essential concepts of accounting and finance: basic accounting formula, accrual accounting and basic accounting principles. It explores the area of business finance, including how business transactions affect financial statements and the end result. You will go through the four-step accounting process and learn the basics of cash flow management and the four types of financial risk.

Objectives

•  recall of the basic calculation formula
• recognition of the characteristics of cash-based accounting and commitments
• correlation of financial activities with the corresponding phase of the accounting process
• correlation of each basic accounting principle with its description
• classification of examples of cash flow, such as operational activities, investment or financial
• recognition of the calculation of potential cash receipts by reducing the financial surplus
• recognition of the effect that the increase or decrease of working capital has on the cash flow
• correlation of each type of financial risk with its description