BUSINESS & PROFESSIONAL PROGRAMS

Accounting Overview for Non-Accountants | Pg. 1

Accounting Overview for Non-AccountantsDon’t be baffled by “accounting-speak.” Whether you are a new supervisor, manager, or just want to understand accounting better, this class is for you! This is a hands-on introduction to financial and managerial accounting. You will be introduced to the accounting equation, accounting techniques, budgeting, terminology, and the general accounting processes.

Who should take this course?This course is designed for students who do not have an accounting background and wish to familiarize themselves with the basics of accounting.

Course Objectives• Relate the accounting system and reports to various business activities, define the accounting

period and identify the role of various accounting institutions• Identify the main accounting reports, including balance sheet, income statement and cash

flow• Identify the accounting equation, asset types, and the methods of accounting for current and

noncurrent assets• Calculate the present and future values of cash flows, including annuities and bonds

Course Details• Length: 18 hours• Classroom Type: Lecture• Prerequisites: Basic arithmetic skills (addition, subtraction, multiplication, division) and basic

algebra skills (solve a simple arithmetic equation for one unknown) The above prerequisites are considered to be the basic skills and knowledge needed prior to taking

this class. Instructors will assume your readiness for the class materials and will NOT use class time to discuss prerequisite materials.

BUSINESS & PROFESSIONAL PROGRAMS

Accounting Overview for Non-Accountants | Pg. 2

Course Contents

Accounting is the Language of Business

• Define Accounting System• Relate Accounting System to business activities• Identify the institutions that establish accounting principles for business• Examine accounting for assets, including current and long term• Examine accounting for liabilities and stockholder’s equity

Identify the main accounting reports

• Income statement• Balance sheet• Statement of cash flows• Statement of stockholder’s equity

Examine accounting for major assets

• Examine accounting for receivables• Identify inventory costs and reporting• Identify various methods of depreciation• Define internal control system

Calculate the present and future values of cash flows, including annuities and bonds

• Calculate the present and future values of cash flow• Calculate the interest rate and maturity rate of a security using Time Value of Money• Calculate the present and future values of ordinary annuity and annuity due• Calculate present and future value of bonds