All managers use resources to accomplish the goals and objectives of the organization. These resources include people, equipment and money. Organizations aim to use resources optimally in order to maximize shareholders wealth. Managers need to understand the basic accounting process which leads to the processing of revenue, expenses, profits, assets, liabilities and equity. This knowledge will enable managers render proper stewardship to their superiors and the owners of the firm.
- The meaning and purpose of Accounting
- Accounting principles and conventions
- Regulatory standards that govern the preparation of financial statements
- The accounting process
- Meaning of Revenue, Expenses, Assets, Liabilities and Equity
- Preparation of simple budgets
- The financial statements including Balance sheet, Income statement, notes to the accounts, Cash flow statement, Statement of changes in equity etc
For whom: All managers without an accounting background.