BUS3091 - Basic Principles of Accounting

Course Description

Are you seeking a career in finance? If you're interested in learning about accounting or how finance works, this course introduces bookkeeping fundamentals, accrual accounting, accounting principles and industry practices used to record and report financial information. Methods of valuing assets, liabilities, and equity of an organization will be analyzed. You'll also be introduced to the purpose and fundamentals of ethics and internal controls. Using this foundational accounting knowledge, you'll learn to prepare and read financial statements, as well as understand and analyze key information that organizations use to make strategic financial decisions.

This program includes live online sessions. We will use Zoom (online conferencing software) to hold discussions and practice hands-on skills. To attend the live online sessions in Zoom, the following equipment is recommended:

• Access to a more recent model desktop or laptop, either Windows, Mac or Android or Apple mobile device
• Supported Operating Systems for desktop and laptop: Mac OS X with Mac OS 10.7 or later, Windows 10 or Windows 8 or 8.1 OR Supported Operating Systems for mobile devices: iOS 7.0 or later, iPad OS 1.3 or later, Android 4.0x or later, Kindle Fire HD
• Reliable high-speed (cable or DSL), internet connection
• Internet browser such as Firefox, Chrome, Edge, or Safari
• Recommended: webcam, headset with microphone, if your device does not already have a webcam and microphone

The following recommended courses can also enhance your financial skills:

• Microsoft Office Suite (Excel, Word, and PowerPoint)
• Google Suite (Alternative to Microsoft Office applications)
• Communication Skills for Success
• Effective Business Writing (for written reports)

Course Outline

Principles of Accounting (16 hours):

I. Bookkeeping basics

A. Cash

B. Accounts Receivable

C. Inventory

D. Payroll

II. Reading financial statments

A. Preparation

B. Reading and understanding financial statements

C. Analysis, decision-making, and strategic planning

Learner Outcomes

By the end of the program, participants will be able to:

1. Complete the accounting cycle for an organization using current accounting standards.
2. Identify and apply basic internal control principles and accounting ethics in a business setting.
3. Post journal entries to the general ledger.
4. Prepare financial statements.
5. Read financial statements to analyze the effects of business transactions.
6. Formulate strategic financial decisions.

Recommendations

• Knowledge of global geography, politics and economies.
• Effective verbal, non-verbal, and written communication skills with respect to similarities and differences within cultures and languages.
• Knowledge and application of global business etiquette and protocol.
• Awareness of social and business trends.
• Awareness of current news and events that may impact global business and economies.