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You will learn in this exciting day of training:
- Accounting framework and fundamentals— Accounting is an art vs. science and guided by concepts and principles called Generally Accepted Accounting Principles (GAAP).
o The big picture of how transactions are transformed to
financial statements.
o Accounting concepts used as the framework.
o Accounting principles applied to transactions and
financial statements.
o How accounting principles are essential for
understanding the language of business.
· The Language of Business — The financial status of a business is expressed in three traditional statements
o Balance Sheet—Ongoing record of financial health
which shows what is “Owned” “Owed” and “Equity”.
o Income Statement—Record of profit or loss for any
given period as the difference in Revenue and
Expenses
o Cash Flow Statement-Sources and Uses of funds for:
· Investing
· Financing
· Operations
- Understanding and Analyzing Financial Statements— Statements are understood and analyzed using various ratios and calculations as a basis for making business decisions about the future of the enterprise.
o Key ratios and calculations to determine and analyze
liquidity, profitability, cash position, and capital
structure.
o How to use these ratios to make informed business
decisions.
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