M04 - Accounting Principles for Non-accountants

Management & Professional Development Skills Courses (3 CPD Hours)

This course introduces participants to the basic principles of accounting and financial management for small businesses. It is designed for small business owners/managers that are not accountants but would like to have a basic appreciation of how the accounting process works.

The table of contents for this course includes the following: 

Introduction to accounting
  • Users of accounting information
  • Branches of accounting
  • Accounting conventions
The accounting process
  • What is financial accounting?
  • Accounting transactions
  • Books of prime entry
  • Double entry
  • The trial balance
  • Summary of the accounting process
Trading Profit & Loss A/C and Balance Sheet
  • Trading, Profit and Loss a/c file Format of Trading, Profit and Loss a/c file Balance Sheet
  • Format of Balance Sheet
  • What is a budget?
  • The budgeting process
  • The purpose of budgets
Cash flow
  • Importance of cash flow
  • Cash flow forecast
  • Cash flow forecast - format
  • Cash flow forecast format - expanded
  • Debtors and creditors management
  • Overhead payments file Stock control
Costs and revenues
  • Fixed costs
  • Variable costs
  • Total costs
  • Reducing costs
  • Total revenue
  • Calculating breakeven point
  • Breakeven point
  • Increasing revenue
  • Maximising profit
From the course you can download relevant notes and documents for your own use, you can also link to other relevant websites and resources.

Course author:  Dr. John Wall, Head of School for Education and Professional Development, 3rd Level Institute

About the author: 
Dr. John Wall is Head of School for Education and Professional Development in a leading Irish Third Level Institution. He has vast experience in designing and delivering courses in business related subjects. John also has a particular interest in the delivery of continuing professional development through an elearning platform and has recently completed his doctoral thesis in this area.