Audience

Managers and those within an organization involved in making business decisions with financial implications

Prerequisites

None

Course Aim

To discuss business stakeholders and their accounting needs, and to explain how and why financial statements are compiled

Learning Objectives

Distinguish between internal and external busness stakeholders. Identify the accounting information appropriate to external stakeholders. Identify the accounting information needed by internal managers. Operate in accordance with the Generally Agreed Accounting Principles (GAAP). Identify and interpret the four main financial statements. Explain how the four financial statements are compiled.

Topics Covered

The Financial Accounting Subsystem - Internal stakeholders - Hands-on: Identifying types of information - External stakeholders - Hands-on: Providing the right documents Financial Statements - Communicating events within the financial accounting subsystem - Hands-on: Identifying missing information How Statements Link - Preparing financial statements - Reporting operating events Business Finance Simulation - Understanding basic accounting concepts

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