Accounting Fundamentals Course Description
Running any business requires expertise in a large and diverse set of areas: sales, marketing, creative, operations, finance. And in a small business, it’s not uncommon for a single individual to oversee them all.. A business can have the best product or service; but if the owner can’t manage cash flows or keep track of expenses, it will struggle to reach its potential. In a climate where nearly half of small businesses fail within the first 5 years, companies can position themselves for long-term profitability and sustainability with the proper accounting fundamentals. Small business success depends on you accurately knowing your margins on each of your offerings. This fundamentals course prepares you to know your financials like you know the rest of your business, putting you on a path towards long-term viability and profitability. Surgent has partnered with AME Learning to offer this interactive training program that will concentrate on giving small business owners the financial literacy they need to price their product, understand their costs, and operate at a profit. Plus, learn to implement successful business strategies that improve viability, helping your business to thrive. Delivered through AME’s powerful learning software, AME Engage™, you’ll experience hands-on, interactive Accounting Map™ tutorials that make small business accounting easy to understand.
This 25 hour course will cover:
- Linking Personal Accounting to Business Accounting
- Fundamentals of assets, liabilities, revenue, expenses, owner’s equity
- The Accounting Cycle: debits and credits, making a journal entry, the general ledger, adjusting entries at the end of the accounting cycles, financial statements
- Cash and Internal Controls: bank reconciliation and petty cash
- Basics of payroll accounting, sales tax and various payable accounts
- The meaning behind numbers in financial statements, various financial ratios and how they affect your small business
- Decision-making with accounting information to help plan and control your business
- The relationship between cost, volume and profit
- Business strategies and measuring business performance
Who Should Take This Course?
Small Business Owners and C-suite Executives without prior business education