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Accounting Overview for Non-Accountants (NONACT) This one-day course is for non-accountants. It provides and excellent overview of accounting and financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP). Non-accountants often have a difficult time understanding the basic financial statements and the accounting "magic" that created them. This course takes the "mystique" out of accounting. It starts with the basic accounting equation (Assets = Liabilities + Owners’ Equity) and shows how various economic activities (transactions) are handled (i.e. recorded) by accountants. It explains in simple easy-to-understand terms the meaning of each basic financial statement (balance sheet, income statement, statement of cash flows) and their elements (assets, liabilities, equity, revenue, expense, net income, operating activities, financial activities, investing activities etc.). The course is an interesting, informative and useful "adventure" for the non-accountant. Consistently, this course proves to be an enlightening, favorable learning exercise for attendees who are interested in GAAP financial statements.
Category: Financial Statement Involvement
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