Staff Development Courses
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FIN - Financial Administration module |
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Financial Accounting - Basic Concepts |
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| Duration: | 0.5 days |
| Target population: | Administrative personnel with a financial role |
| Prerequisite: | FIS 301 - Intro to Finance and Minerva or FIS 330 - Processing Financial Transactions |
| Cost: | $0 |
| Course objectives: | |
| Managing or participating in the management of funds is a critical and challenging role. The first step in ensuring that financial management is being effectively executed is to gain a better understanding of basic financial accounting concepts. This workshop, designed for administrative personnel with a financial role, provides the tools required in understanding basic accounting concepts and their relevance in executing financial tasks. Topics Covered: *Introduction of basic financial accounting concepts and theory, *Provide the tools required in effectively executing financial tasks, *Increase skills and comfort level with financial management policies and procedures. By the end of the course, participants will be able to… *Understand the difference between an income statement and a balance sheet, *Distinguish between a debit and a credit, *Use T-Accounts to understand the flow of financial transactions, *Know when to use accrual accounting, *Understand the impact financial transactions have on the four Banner ledgers: Operating, General, Encumbrance, and Grant, *Comprehend the difference between a pre-determined budget and cash basis budget. |
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| Prerequisite | |
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