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: Fall 2016
Duration: 3 days
Time: 9:00 am – 5:00 pm
Location: 688 Sherbrooke Street West, Room to be confirmed
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
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
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
3. General Ledger
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
Use an organization’s accounting system:
1. Access, interface, reports
2. Database queries
3. Internal control and security measures
Mr. Messaoud Abda, Adm.A., CFE, CPA, CICA, FICB, MBA, CSI
Mr. Abda has 25 years of diverse professional experience in finance and accounting.
A graduate of HEC Montréal, he partners with institutions and universities in finance and accounting mandates, serving as a lecturer at HEC Montréal, Université de Montréal and McGill University, as well as a chartered training provider for the Québec Bar Association and an instructor at several professional associations.
Mr. Abda runs his own advisory firm, working with large institutions like Hydro-Québec and Caisse de dépôt et placement du Québec, as well as governments and international organizations. He is an expert in governance, ethics, compliance, risk management, financial strategy and financial crime issues, serving as an expert witness in fraud cases. He is often invited to provide media comments on ethics and governance cases, as well as serving as a guest speaker for professional associations and institutions.
Mr. Abda is a CFE member of the ACFE (Association of Certified Fraud Examiners), a Fellow of the Institute of Canadian Bankers, and a CPA member of Chartered Professional Accountants, where he’s actively involved in training and coaching CPA candidates in the CPA Professional Education Program.
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.
E-mail: pd [dot] conted [at] mcgill [dot] ca