Accounting Essentials

Course Length: 1 day

Course Overview:
Introductory course that teaches the basics of finance, accounting, and economic strategies in an easy-to-follow, easy-to-understand format complete with glossaries, diagrams, and self-tests.

Course Outline:
•Part 1: Getting The ‘Right’ Numbers
oQualitative Vs. Quantitative Decision-Making
oStandards
oEffective And Efficient Decisions
oConstraints

•Part 2: Review Of The Financial Statements
oThe Balance Sheet And Income Statement
oStatement Of Cash Flow
oWhat The Financial Statements Do Not Tell You

•Part 3: Making Money
oMaximizing Profit Or Minimizing Cost
oThinking In Units
oDefining Cost

•Part 4: Identifying Costs And Their Behaviors
oFixed, Variable, And Mixed Costs
oRelevant Range
oCost Per Unit
oCost Categories On The Income Statement
oDiscerning Variable Costs
oDiscerning Mixed Costs

•Part 5: Controlling Costs
oContribution Margin On The Income Statement
oActivity-Based Costing
oNon-Value-Added Activity

•Part 6: Am I Breaking Even?
oThe Cost-Volume-Profit Graph
oThe Contribution Margin Approach To Break-Even
oCalculating ‘What If’ Profit
oMargin Of Safety

•Part 7: Operating Leverage
oDefining Operating Leverage
oOperating Leverage And The Bottom Line

•Part 8: Influences On Pricing
oPricing In Line With The Competition
oTrade-Offs Between Price And Demand
oElasticity Of Demand Illustrated
oMarket And Cost Influences On Pricing
oQualitative Factors In Relation To Price

•Part 9: Making The Numbers Work For You
oResponsible Decision-Making
oQuality Management