Basic Finance

Module One: Getting Started

• Icebreaker
• Housekeeping Items
• The Parking Lot
• Workshop Objectives

Module Two: Basic Terminology (I)

• Balance Sheet
• Assets
• Liabilities
• Equity
• Income Statement
• Revenue
• Cost of Goods Sold
• Expenses
• Accounting Period
• Review

Module Three: Basic Terminology (II)

• Accounts Receivable
• Accounts Payable
• Depreciation
• General Ledger
• Interest
• Inventory
• Journals
• Payroll
• Trial Balance
• Review

Module Four: Accounting Methods

• Cash Method
• Accrual Method
• Differences between Cash and Accrual
• Module Four: Review Questions

Module Five: Keeping Track of Your Business

• Accounts Payable
• Accounts Receivable
• The Journal
• The General Ledger
• Cash Management
• Module Five: Review Questions

Module Six: Understanding the Balance Sheet

• The Accounting Equation
• Double-Entry Accounting
• Types of Assets
• Types of Liabilities
• Equity
• Module Six: Review Questions

Module Seven: Other Financial Statements

• Income Statement
• Cash Flow Statement
• Capital Statement
• Budget vs. Actual
• Module Seven: Review Questions

Module Eight: Payroll Accounting / Terminology

• Gross Wages
• Net Wages
• Employee Tax Withholding”s
• Employer Tax Expenses
• Salary Deferrals
• Employee Payroll
• Employee Benefits
• Tracking Accrued Leave
• Government Payroll Returns/Reports
• Review

Module Nine: End of Period Procedures

• Depreciating Your Assets
• Reconciling Cash
• Reconciling Investments
• Working with the Trial Balance
• Bad Debt
• Posting Adjustments and Corrections
• Module Nine: Review Questions

Module Ten: Financial Planning, Budgeting and Control

• Reasons for Budgeting
• Creating a Budget
• Comparing Budget to Actual Expenses
• Module Ten: Review Questions

Module Eleven: Auditing

• What is an Audit?
• When and Why Would You Audit?
• Internal
• External
• Module Eleven: Review Questions

Module Twelve: Wrapping Up

• Words from the Wise
• Parking Lot
• Action Plans and Evaluations