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Everyday Accounting: Practical introduction

Accounting provides key information about the financial situation of a business or company. Understanding accounting terminology is important for financial information interpretation and decision-making. This hands-on practical introductory level course is designed for professionals without an accounting background, who need to understand the fundamental accounting principles and financial reporting standards and wants to improve overall accounting literacy.

Date: October 27 - 29, 2014
Time: 9:00 am – 5:00 pm
Location: 688 Sherbrooke Street West, Room to be confirmed
Fee: $1,095.00


Description

This practical course aims to introduce fundamental accounting principles that govern the financial accounting system. Participants will be introduced to various practical accounting concepts such as the income statement, balance sheets, conditions of transactions and Information Technology accounting systems which they encounter in a real-world business setting.


Who Should Attend

  • Small and medium businesses (SMB) managers and owners
  • Junior finance and accounting personnel
  • Administrators and managers of Non-profit organizations
  • Insurance professionals
  • Government employees
  • Professionals in transition

Objectives

At the end of this course the participant is able to:

  • Meet the minimum level of accounting literacy
  • Visualize how accounts are organized and which transactions are entered in
  • Understand how and when accounting information is entered in the accounting system
  • Link the accounting function to other business functions
  • Demonstrate an understanding of the accounting cycle and preparation of financial statements
  • Describe the technology supporting the accounting cycle
  • Use the organization accounting system

Topics Covered

  • Meet the minimum level of accounting literacy
    1. Revenues : current, deferred
    2. Expenses : current, deferred
    3. Margins, profit
    4. Assets : current, long term, inventory, amortization, accounts receivable
    5. Liabilities : current, long term, debt, accounts payable
    6. Equity : retained earnings, common stocks
  • Visualize how accounts are organized and which transactions are entered in:
    1. Income statement
    2. Balance sheet
    3. Statement of retained earnings
    4. Statement of cash flows
  • Understand how and when accounting information is entered in the accounting system
    1. Recognition principle
    2. Matching principle
    3. Capitalizing, expensing
  • Link the accounting function to other business functions
    1. Business cycle
    2. Accounting cycle
    3. Crossing points
  • Demonstrate an understanding of the accounting cycle and the preparation of financial statements
    1. Identifying, analyzing, recording, classifying, summarizing
    2. Journals
    3. General Ledger
    4. F/S
  • Describe the technology supporting the accounting cycle
    1. Accounting Information System (AIS) logic: collecting, managing and storing the financial information (records)
    2. AIS functions :accounts module, journals module, GL module
    3. Software
  • Use an organization’s accounting system
    1. Access, interface, reports
    2. Database queries
    3. Internal control and security measures

Facilitator

Messaoud AbdaMessaoud Abda, CFE, CGA, CICA, CSI, MBA, FICB is an experienced senior corporate manager and instructor with over 20 years of experience in various sectors of the financial market. Mr. Abda has extensive experience in finance and accounting with large Canadian corporations, including Caisse de depôt et placement du Québec and Hydro-Québec. Messaoud is currently a lecturer at McGill University Centre for Continuing Education, as well as professor and program manager at Université de Sherbrooke.


Cancellation Policy

All cancellation & substitution requests must be made in writing. The following Cancellation Policy applies:

Up to 14 days prior to the start date: Full refund
7 days prior to the start date: Refund minus $100 Cancellation fee
Within 7 days of the start date: No Refund, however suitable participation substitution will be permitted

If no notice is given prior to the start of the event(s) and you fail to attend, you will be liable for the full course fee.

McGill SCS reserves the right to cancel an event up to 5 days prior to its start.


Contact Information

Telephone: 514-398-5454

E-mail: pd [dot] conted [at] mcgill [dot] ca