Accounting is often known as the “language of business” and accounting literacy is the key for developing business acumen. It is imperative for all managers and business owners to understand key financial principles and apply them in the real-world context.

Understanding accounting is an essential building block for a solid understanding of business. Therefore, it is a precursor to mastering the numbers game in business. This skill will enable all managerial level employees of each department to make better and more informed business decisions.

The ability to use numbers to the best advantage for business begins with the ability to read Financial Statements and to tell a business story from the numbers reflected in the Financial Statements. These skills are essentially required by non-finance professionals to manage their respective areas to become effective, all-rounded, and professional managers.   

This 2-day finance for the non-finance program will demonstrate that learning accounting is a lot easier by using real-life case studies and it is designed using layman terms and language to facilitate a better understanding of the key principles and concepts. Participants will learn how to interpret and communicate financial situations and events from the Financial Statements and make better business decisions. Take away this core competency for developing the necessary business acumen within you.  

On successful completion of this Finance for non Finance workshop, the participants are expected to be able to:

• Acquire sound understanding on accounting and financial principles and their applications in the business

• Achieve clear understanding on 5 elements of accounts and its structure in making up the financial statements.

• Learn how to read, interpret and analyze financial statements and tell a business
  story from them.

• Make use and apply financial information to better manage the business and make effective financial decisions.

• Improve your accounting and financial skills as the key building block to harness
  business acumen.

Module 1: Introduction to Accounting
Getting started on the right footing
Understanding Accounting and Finance
What are the 3 “L”s of Accounting?
The 5 Elements of Accounts
Getting the right perspective

Module 2: Understanding A Balance Sheet
Starting from Assets as the base
Sources of funds from Liabilities
Sources of funds from Equity
Deducing the Accounting Equation
Duality Concept of Accounting

Module 3: Understanding A Profit Loss Account
Revenue / Income as the sources of funds
Expenses as the sources of funds
Profit is generated equity
Accrual Concept of Accounting
The value cycle of the business

Module 4: Accounting Typical Business Transactions
Recording typical business transactions
Interpreting the Income Statement
Interpreting the Balance Sheet
Telling the business story through Financial Statements

Module 5: Understanding A Cash Flow Statement
Preparation and interpretation of Cash Flow Statement
The importance of cash flow management
Effective Cash Management

Module 6: Financial & Ratio Analysis
Financial Analysis, Trend line & Industry Benchmark
5 categories of financial ratios: Activity, Profitability, Efficiency, Liquidity &
Solvency

Module 7: Introduction to Finance
Differences between Accounting and Finance
How to obtain financing, its methods and sources
The concept of time value of money
Principles of finance

Module 8: Budgeting
Types of Budgets
Understanding budgeting process to control the business
Case Study

Interactive Presentation, Accelerated Learning, Business Driven Action Learning, Case Studies and Discussions

“I wasn’t too confident in reading financial information. I attended this online Interpreting Financial Statement course by iTrainingExpert and learned about the financial terms and important checks that I need to analyse on the forthcoming applications for loans. After completing the 2 days interactive webinar, I feel that I am more confident to comment on the financial statements of the applicants and am more precise in my work. I still need to practice along the way to continuously sharpen my skills.” Muhammad Azry, Business Building Manager, Malaysia Debt Ventures Berhad.

“I was very much looking forward to coming for the Interpreting Financial Statement course. I picked up the basics of financial statements, Balance Sheets, Profit &Loss, and Cashflow Statements as well as the various important ratios. I also learned to analyse the financial statements. I am now clearer and understand financial statements better. The trainer’s presentation was clear.” Audi Amalina Sinaga, Business Building Manager, Malaysia Debt Ventures Berhad.

“Before attending the course, I was not sure what financial indicators to focus on. During the course, I have a much clearer understanding of financial statements. After the course, I felt more confident to read Financial Reports. The trainer is very competent!.” Ong Kui Ann, Business Development Manager of Genesis Nutraceuticals Sdn Bhd

“Before attending the course, I was confused when reading the financial statements. This course helped me how to review and understand financial statements well. I have learned a lot during this training. The trainer is friendly and interesting.” PHOEBE FONG, Assistant Manager of Hitachi High-Tech IPC (Malaysia) Sdn Bhd