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Basic Accounting Concepts for Non-financial Professionals


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


Overview/Description
In this course, you'll learn about key finance and accounting terms and concepts such as the basic accounting equation, accrual-based accounting, and basic accounting principles. This course also takes you through the steps in the accounting process to help you recognize how business transactions affect various financial statements and the bottom line of your business.

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