Accounting Skills for New Supervisors
Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in business, particularly as a manager.
This course will help you get started in the accounting world.
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Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor.
The good news – financial terms are not as scary as they seem!
- Getting the facts straight
- The accounting cycle
- The key reports
- Keeping score
- A review of financial terms
- Understanding debits and credits
- Your financial analysis toolbox
- Identifying high and low risk companies
- The basics of budgeting
- Working smarter
- People and numbers
- Describe the art of finance and key financial terms
- Determine your role in company finances
- Find the rules and regulations for your area and industry
- Discuss various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
- Explain how a chart of accounts is created
- Tell the difference between cash and accrual accounting
- Explain single-entry and double-entry bookkeeping
- Differentiate between debits and credits
- Identify and analyse important financial data and make financial decisions
- Read annual reports
- Determine whether a company is financially high or low risk
- Recognise different types of organisational financial plans
- Explain what budgets are and how to prepare them
- Recognise what computer skills you need to make you a financial whiz
- Deal with financial situations that impact the people that work for you