Understanding Finance & Accounting By Non-Accountants
Available in English & in Arabic
It is quite understood that the 21st century is the time of amazing opportunity and a time of great change, it is about integration and velocity. Technologies and strong competitions in this world of business will be the only constant
feature. This world will be the host of a man of innovation, a man of productivity, and a man of multi-skills. Therefore, individual productivity is a must to meet regional and global competition.
We are in the information age, where economy values knowledge as a tangible asset, where customers are considered to be prosumers (active participants in commerce), where organizations are integrated networks as opposed to hierarchical structure, where technology is digital as opposed to analog, where employees are shifted from skilled laborers to knowledge workers, those who have the information have the knowledge and hence have the power.
Accounting which is considered to be a field that belongs to Finance, was in the past open to those whom careers depended on (core business process). It was not unfortunately exposed to the non-accountants and that was due to the system that promotes the process of specialization (skilled laborers). Today, as we mentioned, economy values knowledge as a tangible asset and those who have the knowledge have the power. With the blessings of the 21st century, accounting today is no longer a secretive, exclusive process, but a highly interactive knowledge that is made available to all people. Although, accounting goes back to hundreds (100s) of years, not much was happening to change it, not until the 12th century, when a true accounting system & records were created. Today, we basically have the same accounting system that exist long time ago with the exception of computerized accounting systems that are well integrated.
Because of this great global fascinating science, it deems necessary for our people to understand it and become well aware of its knowledge (language & culture). Accounting is considered to be the heart of Financial Systems. Debit and Credit play a major role, just as Assets & Liabilities and therefore, understanding it, is one of the essential skill, our employees should possess. Enhancing and strengthening our assets and becoming cost conscious (turning liabilities to assets, such as turning our weaknesses to strengths), is one of the primary objective of this training. Just, imagine the revitalization process our companies will go through when employees turn their weaknesses into strengths and this is what I call it “A VEHICLE OF TANGIBLE ASSETS”.
1. Understanding The Fundamentals
2. Finance & Its Role In Business
3. Accounting & The Good Starting
4. The Audit Process & The Rules
5. Accounting & Management
6. Understanding Debit & Credit (The Traditional Nomenclature - Classification)
7. The Double-entry Bookkeeping System And How It Works (Understanding Assets & Liabilities - A Real Application Exercise)
8. Looking At The Trial Balance
9. Cost Estimating & Cost Accounting
10. Direct & Indirect Costs- Fixed & Variable Costs
11. The Balance Sheet
12. The Assets (Current & Fixed)
13. The Liabilities (Current & Long Term)
14. The Income Statement
15. Trade Discount & Cash Discount
16. Analyzing Financial Statements
17. The Fields Of Economics, Finance, & Accounting
18. The Power Of Computerized Financial Systems