Accounting Skills for New Supervisors

Financial Management and basic accounting knowledge are vital to the success of any leader within a business environment.

Course Details

Over the course of this two-day workshop, participants will learn about:

• The art of finance and financial management
• Key financial terms
• Your role in company finances
• Where to find the rules and regulations for your area and industry
• Various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
• How a chart of accounts is created
• Cash and accrual accounting
• Single and double entry bookkeeping
• Debits and credits
• Identifying and analyzing important financial data
• Making financial decisions
• Reading annual reports
• Determining whether a company is financially high or low risk
• Different types of organizational financial plans
• What budgets are and how to prepare them
• What computer skills you need to make you a financial whiz
• Dealing with financial situations that impact the people that work for you

Delivery Method

Instructor Led classroom based training. Scheduled classes are normally held in Kyalami, Midrand - near to Sandton in Johannesburg, Gauteng, South Africa. Stationary and textbook included. Refreshments, including 2 tea breaks and a cooked meal for lunch are provided for full time courses. Light finger meals are supplied for part time courses.

Audience

Aspiring or existing team leaders, managers and supervisors

Pre-Requisites

Sufficient numeracy skills and experience in the workplace

Course Duration

2 Days

Cost from 1st of March 2012

R 2,160.00 excl vat
R 2,462.40 incl vat

Note: information may change without notice.

Course Outline

You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.

1. Getting the Facts Straight
• The first session will go over basic financial terms. Then, participants will explore their role in company finances as well as important players in an organization's finances. To wrap up the session, participants will receive some resources for learning about the governing organizations in their area.
2. The Accounting Cycle
• Next, participants will learn about the four phases of the accounting cycle. They will also learn about key underlying concepts, including cash vs. accrual methods of accounting.
3. The Key Reports
• In this session, participants will take a close look at balance sheets and income statements. They will also review cash flow statements and statements of retained earnings. The session will conclude with a review activity.
4. Keeping Score
• This session will explain the chart of accounts and single vs. double entry accounting.
5. A Review of Financial Terms
• Day Two will start with a review exercise and an introduction to some additional financial terms.
6. Understanding Debits and Credits
• This session will de-mystify two terrifying accounting terms: debits and credits.
7. Your Financial Analysis Toolbox
• This session will give participants some sources for financial data as well as tips on weeding out useless information. We'll also cover how to calculate common ratios, how to read an annual report, and some useful decision making tools.
8. Identifying High and Low Risk Companies
• In this session, participants will learn about some guidelines for identifying high and low risk companies. Then, they will practice these guidelines in a case study.
9. The Basics of Budgeting
• Next, participants will learn what a budget is, how their budget should fit into the big picture, and what the budgeting process should look like.
10. Working Smarter
• This session will give participants a basic checklist of computer skills required for success. We'll also talk about how to choose an accounting package.
11. People and Numbers
• Dealing with finances isn't all numbers. What if an employee's expense report doesn't look correct? Or what if you have to make cuts to someone's pay? Participants will examine each situation in small groups, and then provide some tips on what to do.
12. Workshop Wrap-Up
• At the end of the day, students will have an opportunity to ask questions and fill out an action plan.

Scheduled Dates

There are currently no up and coming Accounting Skills for New Supervisors courses scheduled. We can schedule a course if we have at least 3 people. If you are interested please fill out the form below.

Course Enquiry

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